Financial Security Advisory Inc

CRD#110746
Investment Advisor Firm

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

    • Overview

    Financial Security Advisory Inc is an advisory company headquartered in Virginia Beach, Virginia. The firm controls $1.1 billion in total assets across 5,136 accounts, placing it among the bigger financial advisory firms in the nation by assets under management (AUM). The company has a small group, including 24 financial advisors. Financial Security Advisory Inc is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer firm to do so. Securities are exchangable fiscal investments such as stocks, bonds and options.

    Financial Security Advisory Inc oversees more than half of its accounts in a discretionary manner. Discretionary management means that buy and sell judgments for the client's account are made by a portfolio manager without needing to seek client permission. The firm also manages six non-discretionary accounts with a total of $437,117 in assets under management. The advisory firm's typical account size is $218,227. An average advisor at Financial Security Advisory Inc oversees about 214 client accounts.

    Financial Security Advisory Inc's central office is located at 575 Lynnhaven Parkway, Virginia Beach, Virginia 23452. The firm is registered to provide services to investors throughout 14 U.S. states and territories.

    Assets Under Management

    $1.1 billion

    Number of Advisors

    24

    Disclosures

    No

    Office Location

    575 Lynnhaven Parkway
    Virginia Beach, VA 23452

    Financial Security Advisory Inc by the Numbers

    Total Assets Under Management

    $1.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    32

    National Average: 64
    Total Number of Accounts

    5,136

    National Average: 375,227
    Average Account Size

    $218.2 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial Security Advisory Inc provides a number of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses and portfolio management for institutional clients. In the last financial year, the firm provided financial planning services to 2000 of its customers. The firm does sell products or offer services different than investment advisory services to its customers. Financial Security Advisory Inc also has a number of financial industry affiliations, including with a broker-dealer or securities dealer and insurance company or agency.

    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 depend on which service is provided. Fee types charged by the company likely are comprised of the following fee types: asset-based or hourly. The firm does not participate in a wrap fee program, in which the company offers a service bundle 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.

    • 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

    The company does business with a number of different clients. It works with retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 5,136 clients, Financial Security Advisory Inc's largest client by number of accounts is retail investors, though it also manages money for 303 high-net-worth individuals. A high-net-worth individual is defined by the SEC 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). None of its clients are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 13.56%
    • Other Individuals - 78.7%
    • Corporations - 6.94%
    • Charitable Organizations - 0.81%

    * 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

    Financial Security Advisory Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Financial Security Advisory Inc

    Matthew Farrell
    Virginia Beach, VA
    Susan Shum
    Virginia Beach, VA
    Alison Rodriguez
    Virginia Beach, VA
    Tyler Neese
    Virginia Beach, VA
    Kevin Joyce
    Newport News, VA
    Jessica Wyman
    Virginia Beach, VA
    Brittany Mccormick
    Virginia Beach, VA
    Samuel Watson
    Virginia Beach, VA
    Jessica Harris
    Newport News, VA

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