Groove Financial Advisors, LLC

CRD#287554
Investment Advisor Firm

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Overview

Groove Financial Advisors, LLC is an advisory company located in Stamford, Connecticut. It has a small group of one employee who is a financial advisor. Groove Financial Advisors, LLC does not act as a registered broker-dealer, signifying that the company cannot buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer company to do so. Securities are defined as exchangable financial investments such as bonds, equities and options.

Groove Financial Advisors, LLC's main office is located at 43 Harbor Drive, Stamford, Connecticut 6902. Groove Financial Advisors, LLC is legally registered to serve investors in the state of Connecticut.

Editorial note: In certain cases, firms can register as exempt reporting advisors with the SEC, meaning they file an abbreviated version of the Form ADV. As a result, this is all of the available information for Groove Financial Advisors, LLC. Please visit the SEC website for more information at https://www.sec.gov

Number of Advisors

1

Disclosures

No

Office Location

43 Harbor Drive
Stamford, CT 06902

Groove Financial Advisors, LLC by the Numbers

Total Number of Employees

1

National Average: 29

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Fee Structure

Financial management fees typically are based on which service is offered. However, fee types billed by the firm typically consist of non-traditional fee structures. The firm does not provide a wrap fee program, in which the company offers a service bundle for a single fee.

Available

  • Offered by 12% of firms

    Other

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

Unavailable

  • Find one of the 74% of firms that offer this fee type

    Percentage of Assets

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    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.

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

    Hourly

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    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 2% of firms that offer this fee type

    Commissions

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    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

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    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 40% 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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Disclosures

Groove Financial Advisors, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Groove Financial Advisors, LLC

John Darer
Stamford, CT

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This content was compiled from the SEC and FINRA