Advice And Planning Services

CRD#20472
Investment Advisor Firm

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Overview

Advice And Planning Services operates as a financial advisory company based in New York, New York. The firm oversees $30.9 billion in assets throughout 76,892 client accounts, making it one of the biggest firms in the United States by assets under management (AUM). Advice And Planning Services has a very large team, including 949 financial advisors. Advice And Planning Services is not a registered broker-dealer, signifying that it cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets such as options, stocks and bonds.

Advice And Planning Services administers all of its accounts on a discretionary basis. Discretionary management means that transaction decisions for the client's account are made by a portfolio manager without needing to seek the client's authorization. The firm's average account size is $401,951. An average advisor at Advice And Planning Services oversees around 81 client accounts.

The firm's central office is at 730 Third Avenue, New York, New York 10017-3206. The firm is legally allowed to serve clients throughout 51 U.S. states and territories.

Assets Under Management

$30.9 billion

Number of Advisors

949

Disclosures

No

Office Location

730 Third Avenue
New York, NY 10017-3206

Advice And Planning Services by the Numbers

Total Assets Under Management

$30.9 billion

National Average: $8.6 billion
Total Number of Employees

1,235

National Average: 64
Total Number of Accounts

76,892

National Average: 375,227
Average Account Size

$402.0 thousand

National Average: $23.0 thousand
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Products and Services

Advice And Planning Services offers a variety of financial services, including financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the past fiscal year, Advice And Planning Services provided financial planning services to 86000 of its customers. The company does not sell products or offer services other than investment advice to its investment advisory customers. It is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant and commodity pool advisor.

Core Advisor Services

  • Offered by 31% 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 46% 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 20% 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.

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    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 management depend on the services provided. Fees billed by Advice And Planning Services most likely are comprised of some combination of the following fee types: asset-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Advice And Planning Services.

Available

  • Offered by 69% 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 10% of firms

    Other

    Show Explanation

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

Unavailable

  • Find one of the 21% 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 1% 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 26% 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 0% 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 32% 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.

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Types of Clients

The company provides services to retail investors, high net worth investors, charitable organizations and corporations. Out of its 76,892 clients, Advice And Planning Services's biggest client type is high net worth investors, though it also manages money for 47,319 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 61.54%
  • Other Individuals - 38.39%
  • Corporations - 0.04%
  • Charitable Organizations - 0.03%

* 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

Advice And Planning Services does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Advice And Planning Services

David Arndt
Lewisville, TX
Ryan Brown
Durham, NC
Rasheed Defense
New York, NY
Anthony Roselli
Roseland, NJ
Keval Amin
Charlotte, NC
Christopher Hendryx
Grand Rapids, MI
Braden Danielson
Spokane, WA
Joy Massimi
Philadelphia, PA
Noah Krebs
Minneapolis, MN

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.