Wellspring Financial Advisors, LLC

Wellspring Financial Advisors, LLC is an independent personal wealth management and multi-family office firm established in February 2007. They specialize in providing holistic financial services to high net worth individuals and families, offering services such as investment advisory, income tax planning, financial and estate planning, risk management, and multi-family office services. The firm's principal owner, Michael Novak, owns more than 25% of the company. Wellspring operates as a fee-only advisor, charging fees based on a tiered asset-based pricing structure. The annual fee rates range from 0.75% for the first $3,000,000 of assets under management to 0.15% for amounts over $20,000,000. Clients can choose to have fees deducted directly from their accounts or be invoiced quarterly. The firm provides personalized services tailored to individual client needs, including family consulting, life planning, personal financial and tax management, estate and wealth transfer planning, strategic philanthropy, and business succession planning. Wellspring follows an open architecture investment philosophy, focusing on long-term value, tax efficiency, and minimizing expenses to maximize after-tax returns. Clients have the option to grant Wellspring investment discretion, allowing the firm to make decisions on their behalf. The firm conducts periodic account reviews, provides ongoing performance reports, and offers investment advice based on clients' risk tolerances, objectives, and preferences. Wellspring does not engage in performance-based fees, side-by-side management, or accept compensation for the sale of securities.