Advice And Planning Services

CRD#20472
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

    Advice And Planning Services operates as a financial advisory company based in New York, New York. The firm oversees $30.9 billion in assets throughout 76,892 client accounts, making it one of the biggest firms in the United States by assets under management (AUM). Advice And Planning Services has a very large team, including 949 financial advisors. Advice And Planning Services is not a registered broker-dealer, signifying that it 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 such as options, stocks and bonds.

    Advice And Planning Services administers all of its accounts on a discretionary basis. Discretionary management means that transaction decisions for the client's account are made by a portfolio manager without needing to seek the client's authorization. The firm's average account size is $401,951. An average advisor at Advice And Planning Services oversees around 81 client accounts.

    The firm's central office is at 730 Third Avenue, New York, New York 10017-3206. The firm is legally allowed to serve clients throughout 51 U.S. states and territories.

    Assets Under Management

    $30.9 billion

    Number of Advisors

    949

    Disclosures

    No

    Office Location

    730 Third Avenue
    New York, NY 10017-3206

    Advice And Planning Services by the Numbers

    Total Assets Under Management

    $30.9 billion

    National Average: $8.6 billion
    Total Number of Employees

    1,235

    National Average: 64
    Total Number of Accounts

    76,892

    National Average: 375,227
    Average Account Size

    $402.0 thousand

    National Average: $23.0 thousand
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    Products and Services

    Advice And Planning Services offers a variety of financial services, including financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the past fiscal year, Advice And Planning Services provided financial planning services to 86000 of its customers. The company does not sell products or offer services other than investment advice to its investment advisory customers. It is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant and commodity pool advisor.

    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

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial management depend on the services provided. Fees billed by Advice And Planning Services most likely are comprised of some combination of the following fee types: asset-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Advice And Planning Services.

    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 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    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 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.

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    Types of Clients

    The company provides services to retail investors, high net worth investors, charitable organizations and corporations. Out of its 76,892 clients, Advice And Planning Services's biggest client type is high net worth investors, though it also manages money for 47,319 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 61.54%
    • Other Individuals - 38.39%
    • Corporations - 0.04%
    • Charitable Organizations - 0.03%

    * 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

    Advice And Planning Services does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Advice And Planning Services

    Christopher Hendryx
    Grand Rapids, MI
    Michael Doody
    Charlotte, NC
    Keval Amin
    Charlotte, NC
    Cara Sanchez
    Chicago, IL
    David Toms
    Charlotte, NC
    Jesse Dusablon
    Ames, IA
    Patricia Lee
    Roseland, NJ
    Anthony Roselli
    Roseland, NJ
    Ross Lloyd
    Atlanta, GA

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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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