Professional Financial Solutions, LLC (Fairfax)

Name: Professional Financial Solutions, LLC
Address: 10517 A West Drive, Fairfax, VA, 22030 8144
Telephone: 703-385-0870

Professional Financial Solutions, LLC is a large advisory firm based in Fairfax. It manages $140.07 million of regulatory assets for 694 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Maryland, New York, Pennsylvania, and 3 other states.

Professional Financial Solutions provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Professional Financial Solutions: assets under management

The assets under management (AUM) of Professional Financial Solutions, LLC is $140.07 million. The firm's AUM has grown by 367% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $130.23 million in discretionary accounts and $9.84 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $202.53 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $192.92 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 17% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Professional Financial Solutions, LLC 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 Professional Financial Solutions serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Professional Financial Solutions is high net worth individuals with 60 clients and $86.84 million of assets under management. Among the 7 most similar advisory firms, Professional Financial Solutions has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $140.07 million for 214 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.

Professional Financial Solutions doesn't advise any private funds.

Careers at Professional Financial Solutions, LLC

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Glenn Darrell Mickelson	Managing member	1 Mar 1997	50% - 75%	2621631
Michael Joseph Mclenigan	Managing member/chief compliance officer	1 Apr 1997	25% - 50%	2877396
Susan K. Mickelson Trust	Owner	1 Sep 2015	25% - 50%	xxx-xx-xxxx
Renee Gardner Sewall	Member	1 Sep 2016	Other	6389568
Megan Michelle Hartman	Member	1 Sep 2016	Other	6719171

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Glenn Darrell Mickelson	Co-trustee	1 Sep 2015	Other	2621631
Susan Kirsten Mickelson	Co-trustee	1 Sep 2015	Other	6578152

Based in Fairfax

The principal office where Professional Financial Solutions, LLC performs its advisory services is located at 10517 A West Drive, Fairfax, VA 22030 8144, 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 703-385-0870 or by fax 703-385-0871. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at profinancialsolutions.com.