The Main Street Group
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Overview
The Main Street Group operates as a financial advisor company headquartered in Glen Allen, Virginia. It handles $224.1 million in assets under management over 1,648 accounts, placing it in the mid-tier of firms in the country by assets under management (AUM). The company has a small team, including 9 financial advisors. The Main Street Group does not act as a registered broker-dealer, signifying that the company is not able to buy and sell securities for its customers' and own accounts and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable financial assets like stocks, options and bonds.
The Main Street Group oversees all of the firm's accounts on a discretionary basis. Discretionary management is a structure in which transaction choices are made by an investment advisor without requiring client authorization. The investment advisory firm's typical account size is $135,994. The typical financial advisor at The Main Street Group oversees about 183 client accounts.
The company's central office is at 4510 Cox Road, Glen Allen, Virginia 23060. The Main Street Group is legally permitted to provide services to investors across 6 states, including Florida, Louisiana, Maryland, North Carolina, Texas and Virginia.
Assets Under Management
Number of Advisors
Disclosures
Office Location
The Main Street Group by the Numbers
$224.1 million
13
1,648
$136.0 thousand
Products and Services
Services offered by The Main Street Group can include financial planning services and portfolio management for individuals and small businesses. In the last fiscal year, the firm provided financial planning services to 11-25 of its accounts. It does not sell products or offer services aside from investment advisory services to its investment advisory customers.
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
A financial advisor's fees largely are based on which services are provided. However, fees charged by the firm most likely include the following fee structures: asset-based, hourly or fixed. The company does not supply a wrap fee program, in which the company offers a service bundle for a comprehensive fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The company works with retail investors, high net worth investors, pension plans and charitable organizations. Out of its 1,648 clients, The Main Street Group's largest client type by number of accounts is retail investors, although it also caters to 101 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 in AUM 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 its customers are from outside of the U.S.
- High-Net-Worth Individuals* - 12.35%
- Other Individuals - 86.92%
- Corporations - 0.24%
- Charitable Organizations - 0.49%
* 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
The Main Street Group does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at The Main Street Group
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
Glen Allen, VA
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