Lee Financial Company, LLC (Dallas)

Name: Lee Financial Company, LLC
Address: 8350 N. Central Expressway, Dallas, TX, 75206
Telephone: 972-960-1001

Lee Financial Company, LLC is a large advisory firm based in Dallas. It manages $1.02 billion of regulatory assets for 1,646 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Colorado, Louisiana, and 3 other states.

Lee Financial Company provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and investment advice to individuals, pensions, profit sharing plans, trusts, estates, charities, corporations, businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lee Financial Company: assets under management

The assets under management (AUM) of Lee Financial Company, LLC is $1.02 billion. 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 $1 billion in discretionary accounts and $14.54 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $674.92 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $89.77 thousand.

Lee Financial Company has custody of $1.01 billion in cash and securities for 401 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 36% of the total AUM. The second-largest asset type is investment and business development companies, which make up 25% of the firm’s portfolio. Investments in pooled investment vehicles form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lee Financial Company, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dana Lynn Pingenot serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Dana Lynn Pingenot is high net worth individuals with 237 clients and $942.04 million of assets under management. Among the 7 most similar advisory firms, Lee Financial Company has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.02 billion for 527 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.

Lee Financial Company also advises several private funds. Namely, one hedge fund, nine real estate funds, and ten private equity funds. The minimum investment commitment required of non-related persons ranges from $25,000 to $50,000.

Careers at Lee Financial Company, LLC

The company employs 32 people that are either part- or full-time employees. 75 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.

Dana Lynn Pingenot has been acting as President since 1 Sep 2010. Mark Wendall Whidby has served as the Chief Investment Officer since 1 May 2016. Julie Ensley Toler joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Dana Lynn Pingenot	President/secretary/senior financial planner	1 Sep 2010	Other	2827515
Richard Rochester Lee	Ceo/founder/advisor	1 Sep 2010	Other	305422
Dusty Dawn Wallace	Chief compliance officer	1 Mar 2016	Other	4905581
Lfc Holding Co.	Owner	1 Mar 2016	75% - 100%	81-0935213
Mark Wendall Whidby	Chief investment officer	1 May 2016	Other	2283428
Christina Susanne Williams	Director of financial planning	1 Dec 2017	Other	3146987
Julie Ensley Toler	Chief compliance officer	1 Jun 2019	Other	4686630

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Richard Rochester Lee	Active	1 Mar 2016	50% - 75%	81-0935213

Based in Dallas

The principal office where Lee Financial Company, LLC performs its advisory services is located at 8350 N. Central Expressway, Dallas, TX 75206, 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 972-960-1001 or by fax 972-404-1123. The normal business hours are 8:30 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at leefin.com.