Maxim Financial Advisors LLC

CRD#139366
Investment Advisor Firm

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Learn more about Maxim Financial Advisors LLC

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

    • Overview

    Maxim Financial Advisors LLC is located at 300 Park Ave, New York, NY. The firm employs 33 financial advisors to manage client portfolios and provide financial guidance. Maxim Financial Advisors LLC is not a registered broker-dealer.

    Maxim Financial Advisors LLC oversees $371.2 million in assets under management across 754 accounts, of which 352 are discretionary and 402 are non-discretionary. The services offered include portfolio management for individuals and small businesses, portfolio management for institutional clients, and selection of other advisers. The firm caters to retail investors, high net worth investors, pension plans, and corporations, with retail investors being the largest client type by accounts. The fee structure at Maxim Financial Advisors LLC is asset-based. The firm has 354 high net worth clients and maintains affiliations with a broker-dealer or securities dealer.

    Maxim Financial Advisors LLC is registered in the states of Arizona, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, North Carolina, California, and Massachusetts.

    Assets Under Management

    $371.2 million

    Number of Advisors

    33

    Disclosures

    No

    Office Location

    300 Park Ave
    New York, NY 10022

    Maxim Financial Advisors LLC by the Numbers

    Total Assets Under Management

    $371.2 million

    National Average: $8.6 billion
    Total Number of Employees

    41

    National Average: 64
    Total Number of Accounts

    754

    National Average: 375,227
    Average Account Size

    $492.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Maxim Financial Advisors LLC offers a number of services, which can include portfolio management for individuals and small businesses, portfolio management for institutional clients, and selection of other advisers. However, Maxim Financial Advisors LLC did not provide any of its clients with financial planning services in the previous fiscal year. The Company is not engaged in selling products or offering services apart from investment advice to its investment advisory customers.

    Core Advisor Services

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      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.

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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

    • 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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      Educational Seminars/Workshops

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

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    Fee Structure

    Fees for financial advice largely depend on the type of services offered. Fees billed by Maxim Financial Advisors LLC typically consist of the following fee structure: asset-based.The firm participates in a wrap fee program, in which the firm offers a bundle of services for a single 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 works with retail investors, high net worth investors, pension plans, and corporations. Out of its 4 clients, Maxim Financial Advisors LLC's largest client group by number of accounts is high net worth investors, but it also serves 354 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 47.33%
    • Other Individuals - 50.53%
    • Corporations - 2.14%
    • 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

    Maxim Financial Advisors LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Maxim Financial Advisors LLC

    Thomas Filomena
    New York, NY
    Jonathan Shapero
    New York, NY
    Kevin Allen
    New York, NY
    Larry Mazzoni
    Woodbury, NY
    Keren Savitzky
    New York, NY
    Sean Carmody
    New York, NY
    Eric Kesselman
    New York, NY
    Beny Lee
    New York, NY
    John Conover
    New York, NY

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