Strategic Financial Services
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Overview
Strategic Financial Services is a financial advisor firm located in Utica, New York. The firm handles $1.7 billion in assets under management throughout 2,950 customer accounts, placing it among the biggest investment advisory firms in the nation by assets under management (AUM). Strategic Financial Services has a small group, including 20 financial advisors. Strategic Financial Services is not a registered broker-dealer, meaning it cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer firm to do so. Securities are tradable financial assets such as options, bonds and equities.
Strategic Financial Services administers more than half of the company's accounts on a discretionary basis. Discretionary management is a structure in which an investment advisor makes transaction decisions for the client's account without needing to seek client authorization. It also manages 18 non-discretionary accounts totaling $118.6 million in assets under management. The firm's typical account size is $563,703. The average financial advisor at Strategic Financial Services administers around 148 client accounts.
The company's headquarters is located at 114 Business Park Drive, Utica, New York 13502. It is legally permitted to provide services to investors across 17 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Strategic Financial Services by the Numbers
$1.7 billion
35
2,950
$563.7 thousand
Products and Services
Strategic Financial Services provides multiple services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients and pension consulting services. In the prior financial year, Strategic Financial Services provided 1000 of its accounts with financial planning services. Strategic Financial Services is not engaged in selling products or offering services other than investment advisory services to its investment advisory accounts. It also has a number of financial industry affiliations, including with a lawyer or law firm.
Core Advisor Services
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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.
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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
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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.
Fee Structure
Fees for financial management usually are based on which services the firm provides the client. Fees billed by the firm likely consist of any combination of the following fee structures: asset-based or commission-based. Strategic Financial Services does not participate in a wrap fee program, in which the company offers a bundle of services for a single fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 1% of firms
Commissions
Unavailable
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Find one of the 21% of firms that offer this fee type
Hourly
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Find one of the 26% of firms that offer this fee type
Performance-based
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Find one of the 0% of firms that offer this fee type
Subscription
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Find one of the 32% of firms that offer this fee type
Fixed
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Find one of the 10% of firms that offer this fee type
Other
Types of Clients
Strategic Financial Services works with a broad range of clients. The company provides services to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 2,950 clients, Strategic Financial Services's biggest client type by number of accounts is retail investors, but it also manages money for 420 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM 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 accounts are non-U.S. persons.
- High-Net-Worth Individuals* - 35.96%
- Other Individuals - 57.36%
- Corporations - 6.25%
- Charitable Organizations - 0.43%
* 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
Strategic Financial Services does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Strategic Financial Services
Utica, NY
Utica, NY
Utica, NY
Utica, NY
Utica, NY
Rochester, NY
Utica, NY
Utica, NY
Utica, NY
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