Transamerica Financial Advisors, Inc

CRD#16164
Investment Advisor Firm

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Overview

Transamerica Financial Advisors, Inc is a financial advisory firm located in Saint Petersburg, Florida. Transamerica Financial Advisors, Inc administers $1.0 billion in assets across 45,703 customer accounts, placing it among the larger investment advisory firms in the country by assets under management (AUM). It has a very large team of 1,271 employees, all of whom are financial advisors. Transamerica Financial Advisors, Inc is not a registered broker-dealer, meaning the company is not able to buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets like stocks, options and bonds.

Transamerica Financial Advisors, Inc oversees 11,800 of the company's accounts on a discretionary basis. Discretionary management signifies that an investment advisor has the discretion to make buy and sell judgments without needing client authorization. It also administers 33,903 non-discretionary accounts totaling $254.0 million in assets. Transamerica Financial Advisors, Inc supervises roughly $22,222 for every account. The typical advisor at Transamerica Financial Advisors, Inc administers about 36 client accounts, making it about average in terms of personalization.

The firm's central office is located at 570 Carillon Parkway, Saint Petersburg, Florida 33716-1202. It is registered to serve customers throughout 50 U.S. states and territories.

Assets Under Management

$1.0 billion

Number of Advisors

1,271

Disclosures

No

Office Location

570 Carillon Parkway
Saint Petersburg, FL 33716-1202

Transamerica Financial Advisors, Inc by the Numbers

Total Assets Under Management

$1.0 billion

National Average: $3.3 billion
Total Number of Employees

1,271

National Average: 31
Total Number of Accounts

45,703

National Average: 1,935
Average Account Size

$22.2 thousand

National Average: $1.7 million

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Products and Services

Transamerica Financial Advisors, Inc provides a variety of financial services, including portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers and educational seminars. Notably, Transamerica Financial Advisors, Inc did not provide any of its customers with financial planning services in the prior financial year. The firm does sell products or offer services other than investment advisory services to its customers. The firm also has a number of financial industry affiliations, including with a broker-dealer or securities dealer, trust company, insurance company or agency, pension consultant, real estate broker or dealer and commodity pool advisor.

Core Advisor Services

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    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 61% of firms

    Portfolio Management

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

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    Market Timing Services

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

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advisory services largely depend on which services the firm provides the client. However, fee types billed by Transamerica Financial Advisors, Inc can include any combination of the following fee types: asset-based or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are provided by Transamerica Financial Advisors, Inc.

Available

  • Offered by 72% 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 2% of firms

    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.

Unavailable

  • Find one of the 35% of firms that offer this fee type

    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.

  • 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 39% of firms that offer this fee type

    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.

  • 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

Transamerica Financial Advisors, Inc works with a number of different investors. Transamerica Financial Advisors, Inc caters to retail investors, high net worth investors, pension plans, charitable organizations, corporations and other. Out of its 45,703 customers, Transamerica Financial Advisors, Inc's biggest client type by number of accounts is retail investors, although it also manages money for 556 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's customers are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 1.22%
  • Other Individuals - 98.62%
  • Corporations - 0.15%
  • Charitable Organizations - 0.02%

* 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

Transamerica Financial Advisors, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Transamerica Financial Advisors, Inc

Byung Kim
Flushing, NY
Avi Crane
Laguna Hills, CA
Amanda Ryba
San Jose, CA
Richard Christman
Duluth, GA
John Belanger
Calabasas, CA
Juan Aguilar
Renton, WA
Weijun Zhang
Plainsboro, NJ
James Ritchie
Dayton, OH
Litonya Allen
Portland, OR

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This content was compiled from the SEC and FINRA