Egi Financial, Inc

CRD#120607
Investment Advisor Firm

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Learn more about Egi Financial, Inc

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

    • Overview

    Egi Financial, Inc is a financial advisor company that has its headquarters in Akron, Ohio. The company handles $205.5 million in assets under management over 297 customer accounts, placing it in the mid-tier of firms in the United States by assets under management (AUM). The firm has a small group, including 8 financial advisors. Egi Financial, Inc does not act as a registered broker-dealer, meaning the company cannot 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 tradable fiscal assets such as bonds, equities and options.

    Egi Financial, Inc oversees 285 of its accounts in a discretionary manner. Discretionary management signifies that a portfolio manager makes buy and sell judgments for the client's account without needing to seek the client's approval. The firm also has 12 non-discretionary accounts with a total of $15.4 million in assets under management. The firm oversees roughly $691,837 in assets for every account. The typical financial advisor at Egi Financial, Inc oversees around 37 client accounts, making it about average in terms of personalization.

    The company's central office is located at 50 South Main Street, Akron, Ohio 44308-1831. It is permitted to serve clients throughout a number of states, including Massachusetts and Ohio.

    Assets Under Management

    $205.5 million

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    50 South Main Street
    Akron, OH 44308-1831

    Egi Financial, Inc by the Numbers

    Total Assets Under Management

    $205.5 million

    National Average: $8.6 billion
    Total Number of Employees

    8

    National Average: 64
    Total Number of Accounts

    297

    National Average: 375,227
    Average Account Size

    $691.8 thousand

    National Average: $23.0 thousand
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    Products and Services

    Services offered by Egi Financial, Inc include financial planning services and portfolio management for individuals and small businesses. In the past financial year, the company provided 1-10 of its accounts with financial planning services. The company does not sell products or offer services apart from investment advice to its investment advisory accounts. The company is affiliated with a number of other service providers in the financial services industry, 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

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    Fee Structure

    Fees charged by financial advisors are based on which services the firm provides the client. However, fees billed by the company may include the following fee types: asset-based or hourly. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company.

    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.

    • Offered by 21% of firms

      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.

    Unavailable

    • 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

    It works with retail investors and high net worth investors. Out of its 297 clients, Egi Financial, Inc's biggest client type is retail investors, but it also serves 59 high-net-worth individuals. The SEC defines a high-net-worth individual as a person 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 company's clients are non-U.S. persons.

    • High-Net-Worth Individuals* - 19.87%
    • Other Individuals - 80.13%
    • 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

    Egi Financial, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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