Advice And Planning Services

CRD#20472
Investment Advisor Firm

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Overview

Advice And Planning Services is a financial advisory company headquartered in New York, New York. Advice And Planning Services manages $25.2 billion in assets under management across 69,021 accounts, placing it among the biggest financial advisory firms in the nation by assets under management (AUM). The firm has a very large group of 1,988 employees, nine hundred twenty of whom are financial advisors. Advice And Planning Services is not a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments such as bonds, options and equities.

Advice And Planning Services oversees all of the company's client assets on a discretionary basis. Discretionary management means that transaction decisions for the client's account are made by an investment advisor without requiring client consent. The company's average account size is $364,861. The typical advisor at Advice And Planning Services manages around 75 client accounts.

The company's main office is located at 730 Third Avenue, New York, New York 10017-3206. The company is permitted to serve investors across 51 U.S. states and territories.

Assets Under Management

$25.2 billion

Number of Advisors

920

Disclosures

No

Office Location

730 Third Avenue
New York, NY 10017-3206

Advice And Planning Services by the Numbers

Total Assets Under Management

$25.2 billion

National Average: $3.3 billion
Total Number of Employees

1,988

National Average: 31
Total Number of Accounts

69,021

National Average: 1,935
Average Account Size

$364.9 thousand

National Average: $1.7 million

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Products and Services

Services offered by Advice And Planning Services can include financial planning services and portfolio management for individuals and small businesses. In the last fiscal year, it provided 114000 of its accounts with financial planning services. The firm does not sell products or offer services aside from investment advice to its investment advisory accounts. It also has a number of financial industry affiliations, including with a broker-dealer or securities dealer, banking or thrift institution, insurance company or agency, pension consultant, real estate broker or dealer and commodity pool advisor.

Core Advisor Services

  • Offered by 44% 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 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

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Fee Structure

Financial advisory fees largely vary depending on which services the firm provides the client. Fees billed by Advice And Planning Services likely are comprised 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 the company.

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 12% 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 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 2% 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 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.

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Types of Clients

The firm provides services to retail investors, high net worth investors, charitable organizations and corporations. Out of its 69,021 accounts, Advice And Planning Services's biggest client type is high net worth investors, though it also manages money for 41,822 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 more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are non-U.S. persons.

  • High-Net-Worth Individuals* - 60.59%
  • Other Individuals - 39.27%
  • Corporations - 0.08%
  • Charitable Organizations - 0.06%

* 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

Mark Durrenberger
Evanston, IL
Robert Nicolosi
Palo Alto, CA
Janet Kang
New York, NY
Mauro Maich
Denver, CO
Kelly Director
Portland, OR
Francisco Ornelas
Denver, CO
Robert Lee
Newtown, PA
Kandi Rudolph
Charlotte, NC
Jeffrey Withington
Hanover, NH

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This content was compiled from the SEC and FINRA