Lifemark Securities Corp

CRD#16204
Investment Advisor Firm

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Learn more about Lifemark Securities Corp

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

    • Overview

    Lifemark Securities Corp is an advisory company located in Rochester, New York. Lifemark Securities Corp administers $256.3 million in total assets throughout 1,963 client accounts, placing it in the mid-tier of firms in the country by assets under management (AUM). The company has an average-sized team, including 70 financial advisors. Lifemark Securities Corp 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 customers' and instead must go through a broker-dealer firm to do so. Securities are exchangable fiscal assets such as stocks, bonds and options.

    Lifemark Securities Corp oversees more than half of its client assets in a discretionary manner. Discretionary management signifies that buy and sell choices are made by an investment advisor without requiring the client's permission. The company also administers 853 non-discretionary accounts totaling $79.7 million in AUM. The firm's average account size is $130,585. The typical financial advisor at Lifemark Securities Corp oversees about 28 client accounts, making it about average in terms of personalization.

    The firm's headquarters is at 400 West Metro Park, Rochester, New York 14623. It is allowed to provide services to customers across 46 U.S. states and territories.

    Assets Under Management

    $256.3 million

    Number of Advisors

    70

    Disclosures

    No

    Office Location

    400 West Metro Park
    Rochester, NY 14623

    Lifemark Securities Corp by the Numbers

    Total Assets Under Management

    $256.3 million

    National Average: $8.6 billion
    Total Number of Employees

    70

    National Average: 64
    Total Number of Accounts

    1,963

    National Average: 375,227
    Average Account Size

    $130.6 thousand

    National Average: $23.0 thousand
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    Products and Services

    Lifemark Securities Corp provides a variety of services, which can consist of financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the last financial year, the firm provided financial planning services to 26-50 of its clients. It is not engaged in selling products or offering services apart from investment advisory services to its investment advisory customers. Lifemark Securities Corp also has a number of financial industry affiliations, including with a broker-dealer or securities dealer.

    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.

    • Find a firm that offers this service

      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.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    A financial advisor's fees largely depend on which services the firm provides the client. Fees charged by Lifemark Securities Corp typically consist of the following fee type: asset-based. The firm does not supply a wrap fee program, in which the firm offers a bundle of services 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

    The firm caters to retail investors. Out of its 1,963 clients, Lifemark Securities Corp's largest client type by number of accounts is retail investors. None of its clients are from outside of the U.S.

    • High-Net-Worth Individuals* - 0%
    • Other Individuals - 100%
    • 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

    Lifemark Securities Corp does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Lifemark Securities Corp

    Angelo Odore
    Pearl River, NY
    Jon Heddleson
    North Canton, OH
    Ronald Drake
    Rochester, NY
    Patrick Durst
    Littleton, CO
    Samuel Galatioto
    Rochester, NY
    Joshua Lipson
    Pearl River, NY
    Loren Bailey
    New York, NY
    Gerald Plachta
    Ocala, FL
    Kevin Hackett
    Ocala, FL

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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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