Advice And Planning Services
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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
Number of Advisors
Advice And Planning Services by the Numbers
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
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.
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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This is the hosting of seminars or workshops to educate investors on financial concepts.
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.
Offered by 69% of firms
Percentage of AssetsShow 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
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Find one of the 21% of firms that offer this fee type
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
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
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
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 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.
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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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
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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.