Gaines Financial Group, Inc. (Boca Raton)

Name: Gaines Financial Group, Inc.
Address: 3837 Nw Boca Raton Blvd, Boca Raton, FL, 33431 5858
Telephone: 561-989-0077

Gaines Financial Group, Inc. is a large advisory firm based in Boca Raton. It manages $342.71 million of regulatory assets for 1,097 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Florida, Louisiana, and 8 other states.

Gaines Financial Group provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Gaines Financial Group: assets under management

The assets under management (AUM) of Gaines Financial Group, Inc. is $342.71 million. The firm's AUM has grown by 175% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $176.37 million in discretionary accounts and $166.34 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $313.27 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $311.5 thousand.

Gaines Financial Group has custody of $52.49 million in cash and securities for 114 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is investment and business development companies, which make up 41% 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 Gaines Financial Group, Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 Gaines Financial Group serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Gaines Financial Group is high net worth individuals with 96 clients and $170.76 million of assets under management. Among the 7 most similar advisory firms, Gaines Financial Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $341.83 million 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.

Gaines Financial Group doesn't advise any private funds.

Careers at Gaines Financial Group, Inc.

The company employs 16 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 16 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Patrick Stevenson Gaines	Principal/chief compliance officer	1 Feb 2011	75% - 100%	2829164

Based in Boca Raton

The principal office where Gaines Financial Group, Inc. performs its advisory services is located at 3837 Nw Boca Raton Blvd, Boca Raton, FL 33431 5858, which is also the mailing address of the firm. An additional office of the firm is in Holly Springs, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 561-989-0077 or by fax 561-989-0078. The normal business hours are 8:30 a.m. - 4:30 p.m. on Monday - Friday. You can find more information about the New York firm at gainesfinancialgroup.com.