Synergy Financial Management, LLC (Bellevue)

Name: Synergy Financial Management, LLC
Address: 13231 Se 36 Th Street, Bellevue, WA, 98006
Telephone: 206-386-5455

Synergy Financial Management, LLC is a large advisory firm based in Bellevue. It manages $261.99 million of regulatory assets for 752 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Arizona, California, Colorado, and 6 other states.

Synergy Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and publication of newsletters. It prepares financial plans for approximately 700 clients. On top of advisory services, the firm doesn't engage in other business activities.

Synergy Financial Management: assets under management

The assets under management (AUM) of Synergy Financial Management, LLC is $261.99 million. The firm's AUM has grown by 840% since the beginning of its operation, and $400.02 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $251.88 million in discretionary accounts and $10.12 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $358.29 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $206.46 thousand.

Synergy Financial Management has custody of $8.1 million in cash and securities for 20 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Synergy Financial Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Synergy Financial Management serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Synergy Financial Management is individuals with 739 clients and $239.05 million of assets under management. Among the 8 most similar advisory firms, Synergy Financial Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $260.84 million for 750 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.

Synergy Financial Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Synergy Financial Management, LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Inc. Synergy Financial Services	99% owner	1 Jul 2001	75% - 100%	91-1859406
Joseph Merrell Maas	Principal/chief compliance officer	1 Oct 2001	Other	2170891
Susan Katris	Chief compliance officer	1 Feb 2019	Other	7085068

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Merrell Maas	Owner	1 Jul 2001	Other	2170891

Based in Bellevue

The principal office where Synergy Financial Management, LLC performs its advisory services is located at 13231 Se 36 Th Street, Bellevue, WA 98006, 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 206-386-5455 or by fax 206-386-5452. The normal business hours are 8:00am - 4:00 pm on Monday - Friday. You can find more information about the New York firm at synergeticfinance.com/financial/.