Communityamerica Financial Solutions, LLC (Lenexa)

Name: Communityamerica Financial Solutions, LLC
Address: 9777 Ridge Drive, Suite 360, Lenexa, KS, 66219
Telephone: 913-905-3600

Communityamerica Financial Solutions, LLC is a large advisory firm based in Lenexa. It manages $217.3 million of regulatory assets for 1,820 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, California, Colorado, and 13 other states.

Communityamerica Financial Solutions provides financial planning services, selection of other advisers, educational seminars and workshops, and fees from third-party managers to whom we refer business. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Communityamerica Financial Solutions: assets under management

The assets under management (AUM) of Communityamerica Financial Solutions, LLC is $217.3 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $7.04 thousand in discretionary accounts and $217.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $7.04 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $119.46 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 51% of the total AUM. The second-largest asset type is exchange traded securities, which make up 39% of the firm’s portfolio. Investments in investment grade corporate bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Communityamerica Financial Solutions, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael Patrick Haggerty serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Michael Patrick Haggerty is individuals with 1,280 clients and $183.9 million of assets under management. Among the 11 most similar advisory firms, Communityamerica Financial Solutions has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $217.3 million for 1,302 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.

Communityamerica Financial Solutions doesn't advise any private funds.

Careers at Communityamerica Financial Solutions, LLC

The company employs 37 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 24 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Michael Patrick Haggerty has been acting as President since 1 Jun 2013. Timothy Rice Saracini joined the executive team most recently as the Elected Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Communityamerica Cuso One Llc	Shareholder	1 Nov 2001	75% - 100%	43-1925982
Michael Alan Patrick	Elected manager	1 Jul 2008	Other	6482087
Michael Patrick Haggerty	President	1 Jun 2013	Other	3172920
Justin Robert Steitz	Chief compliance officer	1 Jul 2013	Other	5789797
Frederic Wayne Danforth	Elected manager	1 Jul 2013	Other	4250448
Mark Gibbs	Elected manager	1 Jul 2013	Other	6481923
Sharon Lee Roeske	Finop / chief financial officer	1 Jan 2014	Other	720262
Lisa Roselle Ginter	Elected manager	1 Mar 2015	Other	6482083

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Mark Gibbs	Elected manager	1 Jun 2000	Other	6481923
Frederic Wayne Danforth	Elected manager	1 Jun 2000	Other	4250448
Communityamerica Credit Union	Sole shareholder	1 Nov 2001	75% - 100%	44-6015072
Michael Patrick	Elected manager	1 Jul 2008	Other	6482087
Lisa Ginter	Elected manager	1 Mar 2015	Other	6482083
Timothy Rice Saracini	Elected manager	1 Sep 2016	Other	1303842

Based in Lenexa

The principal office where Communityamerica Financial Solutions, LLC performs its advisory services is located at 9777 Ridge Drive, Suite 360, Lenexa, KS 66219, which is also the mailing address of the firm. An additional office of the firm is in Kansas City, MO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 913-905-3600 or by fax 913-905-3601. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at communityamerica.com/financial-planning.