Lifecycle Financial Planners Inc. (Bloomfield Hills)

Name: Lifecycle Financial Planners Inc.
Address: 40950 Woodward Avenue, Bloomfield Hills, MI, 48304
Telephone: 248-737-7090

Lifecycle Financial Planners Inc. is a large advisory firm based in Bloomfield Hills. It manages $358.71 million of regulatory assets for 1,957 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Florida, Louisiana, and 3 other states.

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

Lifecycle Financial Planners: assets under management

The assets under management (AUM) of Lifecycle Financial Planners Inc. is $358.71 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 $286.53 million in discretionary accounts and $72.17 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $173.13 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $238.98 thousand.

Lifecycle Financial Planners has custody of $33.46 million in cash and securities for 82 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 52% of the total AUM. The second-largest asset type is state and local bonds, which make up 32% of the firm’s portfolio. Investments in exchange traded securities form 11% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Lifecycle Financial Planners Inc. for their services and products based on 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 Lifecycle Financial Planners serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Lifecycle Financial Planners is high net worth individuals with 82 clients and $239.24 million of assets under management. Among the 8 most similar advisory firms, Lifecycle Financial Planners has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $358.71 million for 345 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.

Lifecycle Financial Planners doesn't advise any private funds.

Careers at Lifecycle Financial Planners Inc.

The company employs 11 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 11 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
Melissa Rose Scenga	Shareholder	1 Sep 2017	25% - 50%	6459433
Samuel Pak Sum Chow	Chief compliance officer	1 Sep 2017	Other	6880516
Pamela S. Landy	Shareholder	1 Sep 2017	50% - 75%	5837816

Based in Bloomfield Hills

The principal office where Lifecycle Financial Planners Inc. performs its advisory services is located at 40950 Woodward Avenue, Bloomfield Hills, MI 48304, 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 248-737-7090 or by fax 248-737-8010. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at lifecyclefinancialplanners.com.