Nbs Financial & Insurance Services Inc (Westlake Village)

Name: Nbs Financial & Insurance Services Inc
Address: 340 N Westlake Blvd, Westlake Village, CA, 91362
Telephone: 805.497.2497

Nbs Financial & Insurance Services Inc is a large advisory firm based in Westlake Village. It manages $223.95 million of regulatory assets for 450 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Nevada, and Texas.

Nbs Financial & Insurance Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Nbs Financial & Insurance Services: assets under management

The assets under management (AUM) of Nbs Financial & Insurance Services Inc is $223.95 million. The firm's AUM has grown by 220% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $221.24 million in discretionary accounts and $2.71 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $494.95 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $903.14 thousand.

Nbs Financial & Insurance Services has custody of $49 million in cash and securities for 105 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 70% of the total AUM. The second-largest asset type is exchange traded securities, which make up 20% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Nbs Financial & Insurance Services Inc for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joseph John Crossan serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Joseph John Crossan is high net worth individuals with 56 clients and $171.47 million of assets under management. Among the 9 most similar advisory firms, Nbs Financial & Insurance Services has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $215.91 million for 162 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Nbs Financial & Insurance Services doesn't advise any private funds.

Careers at Nbs Financial & Insurance Services Inc

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Joseph John Crossan has been acting as President since 1 Jan 1995. Susan Yvonne Crossan joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Joseph Crossan	President	1 Jan 1981	50% - 75%	716904
Joseph John Crossan	President	1 Jan 1995	75% - 100%	1449271
Susan Yvonne Crossan	Chief compliance officer	1 Oct 2004	Other	4781441

Based in Westlake Village

The principal office where Nbs Financial & Insurance Services Inc performs its advisory services is located at 340 N Westlake Blvd, Westlake Village, CA 91362, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 805.497.2497 or by fax 805.497.3383. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at nbscompanies.com.