Financial Advocates Investment Management (Olympia)

Name: Financial Advocates Investment Management
Address: 1601 Cooper Point Road Nw, Olympia, WA, 98502
Telephone: 360-866-2345

Financial Advocates Investment Management is a large advisory firm based in Olympia. It manages $2.83 billion of regulatory assets for 18,308 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 39 other states.

Financial Advocates Investment Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Financial Advocates Investment Management: assets under management

The assets under management (AUM) of Financial Advocates Investment Management is $2.83 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 4962% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.83 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $154.84 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 83% of the total AUM. The second-largest asset type is exchange traded securities, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Financial Advocates Investment Management 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 Financial Advocates Investment Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Financial Advocates Investment Management is high net worth individuals with 3,051 clients and $1.66 billion of assets under management. Among the 10 most similar advisory firms, Financial Advocates Investment Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.83 billion for 11,337 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.

Financial Advocates Investment Management doesn't advise any private funds.

Careers at Financial Advocates Investment Management

The company employs 151 people that are either part- or full-time employees. 92 percent of the employees work as investment advisers or researchers. 119 employees are registered as investment adviser representatives with the state securities authorities.

There are 9 people 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
Financial Advocates Incorporated	Owner	1 Jun 2000	75% - 100%	91-2049717
Angela Elaine Vlach	President / coo	1 Apr 2008	Other	4289946
Brian Kevin Kerrigan	Chief compliance officer	1 Jun 2009	50% - 75%	1718513
Gary Ray Campbell	Member	1 Jun 2010	50% - 75%	1658146
Financial Advocates Incorporated	Member	1 Mar 2011	75% - 100%	91-2049717
Tiffany Elise Ferko	Chief compliance officer	1 Mar 2012	Other	4385145
Tiffany Elise Cote	Chief compliance officer	1 Mar 2012	Other	4385145
Cheryl Lynn Karboski	Chief compliance officer	1 Mar 2014	Other	4771417
Heather Ann Pratt	Faim operations director	1 Jan 2016	Other	5118234
Douglas Roger Whittle	Faim compliance director	1 Mar 2018	Other	2190231
Llc Financial Advocates Agency	Owner	1 Oct 2018	75% - 100%	47-4121481
Cheryl Lynn Karboski	Faim compliance director	1 Jan 2019	Other	4771417
Douglas Roger Whittle	Chief compliance officer	1 Jan 2019	Other	2190231

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Gary Ray Campbell	President	1 Jun 2000	75% - 100%	1658146
Inc. Financial Advocates	Owner	1 Oct 2018	75% - 100%	91-2049717

Based in Olympia

The principal office where Financial Advocates Investment Management performs its advisory services is located at 1601 Cooper Point Road Nw, Olympia, WA 98502, which is also the mailing address of the firm. An additional office of the firm is in Fresno, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 360-866-2345 or by fax 360-866-6920. The normal business hours are 7am to 5pm on Monday - Friday. You can find more information about the New York firm at wagstafffinancial.com and its LinkedIn profile.