Money Management Concepts Inc

CRD#111485
Investment Advisor Firm

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Learn more about Money Management Concepts Inc

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Money Management Concepts Inc operates as an advisory firm headquartered in Melbourne, Florida. Money Management Concepts Inc oversees $98.4 million in total assets throughout 298 customer accounts. It has a small team, including 2 financial advisors. Money Management Concepts Inc does not act as a registered broker-dealer, meaning the company is not able to buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer company to do so. Securities are defined as tradable fiscal investments such as bonds, options and equities.

    Money Management Concepts Inc oversees all of the firm's client assets on a discretionary basis. Discretionary management is a structure in which an investment advisor has the discretion to make buy and sell judgments without needing to seek the customer's authorization. The advisory firm administers roughly $330,336 in assets for each client account. The average advisor at Money Management Concepts Inc manages about 149 client accounts.

    Money Management Concepts Inc's main office is located at 6767 N. Wickham Road, Melbourne, Florida 32940. The firm is allowed to serve investors across a number of states, including Florida and Texas.

    Assets Under Management

    $98.4 million

    Number of Advisors

    2

    Disclosures

    No

    Office Location

    6767 N. Wickham Road
    Melbourne, FL 32940

    Money Management Concepts Inc by the Numbers

    Total Assets Under Management

    $98.4 million

    National Average: $8.6 billion
    Total Number of Employees

    2

    National Average: 64
    Total Number of Accounts

    298

    National Average: 375,227
    Average Account Size

    $330.3 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Financial management fees are based on which services the firm provides the client. Fees charged by Money Management Concepts Inc typically consist of the following fee type: asset-based. The firm does not participate in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

    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.

    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.

    • Find one of the 10% 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 works with retail investors and high net worth investors. Out of its 298 accounts, Money Management Concepts Inc's largest client group by number of accounts is retail investors, but it also serves 29 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor 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). None of its customers are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 30.21%
    • Other Individuals - 69.79%
    • Corporations - 0%
    • 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

    Money Management Concepts Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Money Management Concepts Inc

    Thomas Prudente
    Melbourne, FL
    Jeffrey Wegner
    Melbourne, FL

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