First Affirmative Financial Network LLC

CRD#109036
Investment Advisor Firm

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Learn more about First Affirmative Financial Network LLC

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

    • Overview

    First Affirmative Financial Network LLC is a financial advisory firm based in Colorado Springs, Colorado. The firm oversees $695.2 million in assets over 2,412 client accounts, placing it among the larger financial advisory firms in the nation by assets under management (AUM). It has a small team, including 12 financial advisors. First Affirmative Financial Network LLC is not a registered broker-dealer, meaning the firm cannot buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets such as bonds, equities and options.

    First Affirmative Financial Network LLC manages more than half of the company's accounts in a discretionary manner. Discretionary management means that an investment advisor makes buy and sell decisions for the client's account without needing client authorization. The firm also manages 79 non-discretionary accounts totaling $195.9 million in assets. The advisory firm's average account size is $288,217. The typical advisor at First Affirmative Financial Network LLC oversees around 201 client accounts.

    The company's central office is located at 5475 Mark Dabling Boulevard, Colorado Springs, Colorado 80918. It is legally permitted to serve customers throughout 33 U.S. states and territories.

    Assets Under Management

    $695.2 million

    Number of Advisors

    12

    Disclosures

    No

    Office Location

    5475 Mark Dabling Boulevard
    Colorado Springs, CO 80918

    First Affirmative Financial Network LLC by the Numbers

    Total Assets Under Management

    $695.2 million

    National Average: $8.6 billion
    Total Number of Employees

    25

    National Average: 64
    Total Number of Accounts

    2,412

    National Average: 375,227
    Average Account Size

    $288.2 thousand

    National Average: $23.0 thousand
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    Products and Services

    First Affirmative Financial Network LLC provides a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers, publication of newsletters and educational seminars. In the last financial year, the company provided 11-25 of its clients with financial planning services. The firm is not involved in selling products or offering services other than investment advice to its investment advisory accounts. The firm is also affiliated with a number of other service providers in the financial services industry, including with an 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

    • 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.

    • Offered by 3% of firms

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

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

    Back to Overview

    Fee Structure

    Fees charged by financial advisors usually depend on which service is provided. Fees charged by First Affirmative Financial Network LLC may include some combination of the following fee types: asset-based, hourly or fixed. First Affirmative Financial Network LLC does participate in a wrap fee program, in which the company offers a bundle of services for a comprehensive 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.

    • 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 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.

    Back to Overview

    Types of Clients

    The firm works with a number of different clients. It works with retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 2,412 clients, First Affirmative Financial Network LLC's largest client group by number of accounts is high net worth investors, but it also caters to 1,283 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone 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 the company's customers reside abroad.

    • High-Net-Worth Individuals* - 53.21%
    • Other Individuals - 41.02%
    • Corporations - 1.91%
    • Charitable Organizations - 3.86%

    * 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

    First Affirmative Financial Network LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at First Affirmative Financial Network LLC

    Laura Harrison
    Toledo, OH
    David Behnke-Seper
    Eau Claire, WI
    Robert Pajak
    West Newton, MA
    Brenda Lenz
    Lawrence, KS
    James Horlacher
    Lenexa, KS
    Stephen Siegel
    Baltimore, MD
    George Gay
    Colorado Springs, CO
    Sigurd Bue
    Westport, CT

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