What Hennion & Walsh does

Hennion & Walsh, founded in 1990 and headquartered in Parsippany, New Jersey, is a privately held, full-service investment firm built around tax-free municipal bonds and comprehensive wealth management for individual retail investors, particularly those planning for or already in retirement. The firm delivers advice under a fiduciary standard of care through a dedicated in-house team that includes CFP professionals, CFA charterholders, bond experts, annuity professionals, and an internal fixed-income trading desk, organized around what it calls the 'H&W Experience' client philosophy. Its product line spans Comprehensive Wealth Management (customized portfolios under a single, transparent fee), Tax-Free Municipal Bonds (its heritage specialty since 1990), and an 'Other Investments' shelf encompassing taxable municipal bonds, corporate bonds, zero coupon bonds, certificates of deposit, and insurance products. Supporting tools include a free Bond Guide, a live Bond Center inventory search tool, a Market Outlook commentary series, and a complimentary Second Opinion service designed to convert holders of outside accounts.

The firm generates revenue primarily through recurring advisory and management fees on a fee-based model, with no management fee charged on fixed income — a deliberate pricing feature used as both a differentiator and a client acquisition lever. Securities are offered through Hennion & Walsh Inc. (a FINRA and SIPC member, with excess coverage from Lloyd's of London syndicates via First Clearing), while advisory services are delivered through Hennion & Walsh Asset Management. Distribution is direct-to-client via phone (800-836-8240), an online account portal, and two physical offices in Parsippany, NJ and Boca Raton, FL; marketing is content-led through the website, educational articles, and lead magnets that feed a funnel closing via the Second Opinion consultation. The co-founders, Richard Hennion and William Walsh, remain in leadership roles 35 years in, the firm has taken no disclosed external funding, and it was named by USA Today as one of the Top Financial Advisory Firms for 2026.

Name

Hennion & Walsh

Legal name

Hennion & Walsh, Inc.

Website

https://hennionandwalsh.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Short description

Hennion & Walsh is a privately held, Parsippany, NJ-based full-service investment firm founded in 1990 that delivers fiduciary wealth management and tax-free municipal bonds to individual retail investors through dedicated in-house specialists and offices in NJ and FL.

Ownership category

akta.pro rank

Product category

Wealth Management and Investment Advisory

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Government Bonds & Agencies (Sovereigns, Supras, Munis) (FSAAAHAA)

akta.pro secondary industries

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Private Banking & UHNW Wealth Advisory (FSAEABAC)

Keywords

• Wealth management services
• Tax-free municipal bonds
• Retirement planning advisory
• Fixed income investing
• Fiduciary investment management

Headquarters

HQ city

Parsippany

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Advisory and Management Fees: Fee-based investment advisory services under fiduciary standard of care. Securities offered through Hennion & Walsh Inc. (member FINRA/SIPC) and advisory services through Hennion & Walsh Asset Management. Operates on a simple, transparent single fee structure with no management fee on fixed income.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hennion & Walsh is a full-service investment firm that delivers Comprehensive Wealth Management under a fiduciary standard of care for a single transparent fee, anchored by its 35-year heritage specialty in tax-free municipal bonds. The firm also provides related fixed-income and growth investments (taxable municipal bonds, corporate bonds, zero coupon bonds, certificates of deposit, and insurance) along with complimentary Second Opinion consultations on outside investment accounts.

Product overview

Hennion & Walsh is a full-service investment firm offering a complete range of wealth management services and investment products. The core offering consists of Comprehensive Wealth Management (fiduciary-based investment management for a single fee) and Tax-Free Municipal Bonds (their heritage specialty since 1990). Additional products include Other Investments (taxable municipal bonds, corporate bonds, zero coupon bonds, CDs, insurance). The firm provides supporting services including a free Second Opinion consultation, Bond Guide educational resources, and a live Bond Center search tool. All services are delivered under 'The Hennion & Walsh Experience' philosophy featuring dedicated teams of specialists including CFP professionals, CFA charterholders, and an internal fixed-income trading team.

Differentiator

Problem solved

Functional benefit

Products and services

• Comprehensive Wealth Management Full-service investment management under a fiduciary standard of care for a single and simple fee. Offers customized portfolios and investment process tailored to individual client needs planning for or in retirement.
• Tax-Free Municipal Bonds Municipal bond specialty practice since 1990, offering tax-free income, historically low risk, and potential regular income for investors. The firm's heritage and primary area of expertise.
• Other Investments Additional fixed income and growth investment products including Taxable Municipal Bonds, Corporate Bonds, Zero Coupon Bonds, Certificates of Deposit, and Insurance products for individual investors.
• Second Opinion Consultation A complimentary consultation service providing investors with a free second opinion on all investment accounts not held at Hennion & Walsh, helping identify opportunities they may be missing.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Edward Jones: Large U.S. financial advisory firm focused on individual investors, particularly those planning for and in retirement, with a heavy fixed-income orientation. Most directly comparable to Hennion & Walsh on customer segment (retail retirement investors), advisory-led model, and bond-heavy portfolio construction.
• Stifel Financial: Mid-size U.S. broker-dealer and wealth manager serving individual investors with a strong fixed-income and municipal bond franchise through its institutional fixed-income desk. Comparable to H&W in client base (mass-affluent and HNW individuals), municipal bond focus, and fee-based advisory structure.
• Raymond James Financial: Diversified financial services firm with a large Private Client Group serving individual investors through a network of financial advisors. Closely comparable on target customer (retail retirees and HNW individuals), advisor-driven delivery model, and significant fixed-income / municipal bond offering.
• Janney Montgomery Scott: Independent, employee-owned Philadelphia-based broker-dealer and RIA serving individual investors and institutions with a strong fixed-income and municipal bond capability. Highly comparable to H&W on independent ownership, advisor-led model, municipal bond heritage, and individual-investor retirement focus.
• Robert W. Baird: Privately held, employee-owned wealth management and investment bank serving individual investors, institutions, and corporations. Comparable to H&W in private ownership, individual-investor wealth management orientation, and significant fixed-income offerings.
• Hilltop Securities: Texas-based broker-dealer and registered investment advisor with a particularly strong municipal bond underwriting and trading desk. Most directly comparable to H&W on municipal bond specialization and individual-investor fixed-income focus.
• Oppenheimer & Co. Privately held investment bank and wealth manager with a Private Client Division focused on HNW individuals and families. Comparable to H&W on independent ownership, fee-based wealth management for HNW individuals, and fixed-income offerings including municipal bonds.

Broad incumbents

• Cetera Financial Group: Large network of independent broker-dealer firms serving individual investors with retirement and wealth management solutions. Comparable to H&W on individual-investor advisory model but operates at much larger scale as a multi-firm IBD platform rather than a single RIA.
• Charles Schwab: National brokerage and wealth management platform serving individual investors with self-directed and advisor-led channels. Comparable to H&W as a competing destination for retail investors seeking fixed-income and retirement solutions, but operates at vastly larger scale and with proprietary products.
• Fidelity Investments: One of the largest U.S. asset managers and broker-dealers offering wealth management, brokerage, and retirement products to individual investors. Comparable to H&W on serving retail retirement investors but with materially larger scale, broader product menu, and integrated technology platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/hennionandwalsh
• Facebookfacebook.com/hennionandwalsh

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hennion & Walsh