Harmony Asset Management LLC

CRD#116069
Investment Advisor Firm

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Overview

Harmony Asset Management LLC operates as a financial advisor company located in Scottsdale, Arizona. Harmony Asset Management LLC oversees $101.5 million in assets across 339 customer accounts, placing it in the mid-tier of investment advisory firms in the country by assets under management (AUM). It has a small group of one employee who is a financial advisor. Harmony Asset Management LLC is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal investments such as equities, bonds and options.

Harmony Asset Management LLC manages more than half of the firm's accounts in a discretionary manner. Discretionary management is a structure in which buy and sell judgments are made by an investment advisor without needing the client's approval. The company also oversees 40 non-discretionary accounts with a total of $13.8 million in assets. The investment advisory firm administers an average of $299,436 in assets for every account. Under $100,000 of their financial planning investments were in securities, with under $100,000 invested in non-securities. An average financial advisor at Harmony Asset Management LLC oversees about 339 client accounts.

Harmony Asset Management LLC's main office is located at 7337 E. Doubletree Ranch Road, Scottsdale, Arizona 85258. Harmony Asset Management LLC is permitted to provide services to investors throughout 3 states, including Arizona, Florida and New York.

Assets Under Management

$101.5 million

Number of Advisors

1

Fee Structure

Asset-based, Hourly, Fixed

Disclosures

No

Office Location

7337 E. Doubletree Ranch Road
Scottsdale, AZ 85258

Harmony Asset Management LLC by the Numbers

Total Assets Under Management

$101.5 million

National Average: $3.3 billion
Total Number of Employees

1

National Average: 4,943
Total Number of Accounts

339

National Average: 2,522
Average Account Size

$299.4 thousand

National Average: $1.3 million

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Products and Services

Harmony Asset Management LLC provides multiple financial services, including financial planning services, portfolio management for individuals and small businesses and portfolio management for institutional clients. However, it did not provide any of its customers with financial planning services in the previous fiscal year. Harmony Asset Management LLC does not sell products or offer services other than investment advice to its investment advisory clients.

Core Advisor Services

  • Offered by 45% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 63% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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Fee Structure

Financial management fees largely vary depending on which services the firm provides the client. However, fee types billed by the company most likely include the following fee structures: asset-based, hourly or fixed. The company does not supply a wrap fee program, in which the company offers a service bundle for a comprehensive fee. It is able to withdraw the fees directly from client accounts.

Available

  • Offered by 75% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 37% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 3% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

It caters to retail investors, high net worth investors, pension plans and corporations. Out of its 339 clients, Harmony Asset Management LLC's biggest client type is retail investors, but it also manages money for 42 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 2% of the company's clients reside abroad.

  • High-Net-Worth Individuals* - 35.9%
  • Other Individuals - 59.83%
  • Corporations - 4.27%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Harmony Asset Management LLC does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA