Advance Capital Management Inc

CRD#110767
Investment Advisor Firm

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Overview

Advance Capital Management Inc is an advisory firm based in Southfield, Michigan. It administers $3.6 billion in total assets over 13,699 customer accounts, placing it among the biggest financial advisory firms in the nation by assets under management (AUM). Advance Capital Management Inc has an average-sized group, including 29 financial advisors. Advance Capital Management Inc does not act as a registered broker-dealer, meaning the company cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets like options, equities and bonds.

Advance Capital Management Inc administers more than half of its accounts in a discretionary manner. Discretionary management signifies that transaction decisions are made by an investment advisor without requiring client permission. It also has 639 non-discretionary accounts totaling $40.8 million in assets. The company oversees about $260,598 for every customer account. The typical advisor at Advance Capital Management Inc manages around 472 client accounts.

The firm's central office is at One Towne Square, Southfield, Michigan 48076. The company is legally allowed to serve investors throughout 36 U.S. states and territories.

Assets Under Management

$3.6 billion

Number of Advisors

29

Disclosures

No

Office Location

One Towne Square
Southfield, MI 48076

Advance Capital Management Inc by the Numbers

Total Assets Under Management

$3.6 billion

National Average: $8.6 billion
Total Number of Employees

54

National Average: 64
Total Number of Accounts

13,699

National Average: 375,227
Average Account Size

$260.6 thousand

National Average: $23.0 thousand
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Products and Services

Advance Capital Management Inc provides multiple services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients and pension consulting services. In the last fiscal year, Advance Capital Management Inc provided 13500 of its clients with financial planning services. The firm is engaged in selling products or offering services other than investment advisory services to its clients.

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 for financial management largely depend on which services the firm provides the client. Fee types billed by the company can be comprised of the following fee structures: asset-based or fixed. 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 32% of firms

    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.

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 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 company works with a broad range of customers. The company caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 13,699 accounts, Advance Capital Management Inc's biggest client is retail investors, though it also serves 940 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of at least $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 customers are from outside of the U.S.

  • High-Net-Worth Individuals* - 13.79%
  • Other Individuals - 85.25%
  • Corporations - 0.73%
  • Charitable Organizations - 0.22%

* 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

Advance Capital Management Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Advance Capital Management Inc

Ian Smith
Dallas, TX
Samantha Williams
Southfield, MI
Patrick Cummins
Grand Rapids, MI
Derek Van Solkema
Southfield, MI
Vincent Vitale
Southfield, MI
Chad Theisen
Southfield, MI
Mark Wayton
Southfield, MI
Daniel Mchugh
Southfield, MI
Lara Mazek
Southfield, MI

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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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