Financial Management Strategies, Inc. (Independence)

Name: Financial Management Strategies, Inc.
Address: 6200 Rockside Road, Independence, OH, 44131
Telephone: 216-642-7878

Financial Management Strategies, Inc. is a large advisory firm based in Independence. It manages $354.67 million of regulatory assets for 1,176 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of California, Florida, Michigan, and 6 other states.

Financial Management Strategies provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Financial Management Strategies: assets under management

The assets under management (AUM) of Financial Management Strategies, Inc. is $354.67 million. The firm's AUM has grown by 1038% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $228.77 million in discretionary accounts and $125.9 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $220.82 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $899.32 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 65% of the total AUM. The second-largest asset type is exchange traded securities, which make up 31% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Financial Management Strategies, 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 Jeffrey Charles Knox serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Jeffrey Charles Knox is individuals with 917 clients and $162.19 million of assets under management. Among the 7 most similar advisory firms, Financial Management Strategies has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $354.67 million for 1,176 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.

Financial Management Strategies doesn't advise any private funds.

Careers at Financial Management Strategies, Inc.

The company employs 22 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 21 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people 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.

Jeffrey Charles Knox has been acting as President since 1 Nov 1999. Jennifer Lynn Soltis joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jeffrey Charles Knox	President	1 Nov 1999	75% - 100%	1058673
Charles Brian Elliott	Vice president - portfolio management & financial planning	1 Jan 2011	Other	4069269
Kim Marie Bolden	Chief compliance officer	1 Jan 2014	Other	1048575
Jennifer Kathryn Collins	Chief compliance officer	1 Feb 2015	Other	2449551
Jennifer Lynn Soltis	Chief compliance officer	1 Oct 2016	Other	3143883
Jennifer L Soltis	Chief compliance officer	1 Oct 2016	Other	3143883

Based in Independence

The principal office where Financial Management Strategies, Inc. performs its advisory services is located at 6200 Rockside Road, Independence, OH 44131, which is also the mailing address of the firm. An additional office of the firm is in Mesquite, NV. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 216-642-7878 or by fax 216-642-1186. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at fmstrategies.biz.