Dmkc Advisory Services, LLC (Des Moines)

Name: Dmkc Advisory Services, LLC
Address: 3900 Ingersoll Avenue, Des Moines, IA, 50312
Telephone: 515-221-1133

Dmkc Advisory Services, LLC is a large advisory firm based in Des Moines. It manages $380 million of regulatory assets for 620 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Colorado, and 9 other states.

Dmkc Advisory Services provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Dmkc Advisory Services: assets under management

The assets under management (AUM) of Dmkc Advisory Services, LLC is $380 million. The firm's AUM has grown by 1036% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $260 million in discretionary accounts and $120 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $424.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $15 million.

Dmkc Advisory Services has custody of $380 million in cash and securities for 353 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 71% of the total AUM. The second-largest asset type is exchange traded securities, which make up 23% of the firm’s portfolio. Investments in investment grade corporate bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Dmkc Advisory Services, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Gary R. Lucas serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Gary R. Lucas is high net worth individuals with 178 clients and $246 million of assets under management. Among the 8 most similar advisory firms, Dmkc Advisory Services has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $366 million for 352 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.

Dmkc Advisory Services doesn't advise any private funds.

Careers at Dmkc Advisory Services, LLC

The company employs 11 people that are either part- or full-time employees. 73 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.

Gary R. Lucas has been acting as President since 1 Dec 2008. Daniel G. Kelly joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
D. M. Kelly & Company	Owner	1 Aug 2007	75% - 100%	42-1439008
Daniel G. Kelly	President & member	1 Aug 2007	Other	4751840
Daniel Grimes Kelly	President & chief compliance officer	1 Aug 2007	Other	4751840
Gary R. Lucas	President/chief investment officer	1 Dec 2008	Other	2059364
Michelle Renee Stockman	Chief compliance officer	1 Jan 2013	Other	5010490
Daniel G. Kelly	Chief compliance officer	1 Apr 2017	Other	4751840

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Michael Kelly	President	1 May 1995	75% - 100%	266912
Daniel M. Kelly 2004 Trust	Direct owner	1 Oct 2006	75% - 100%	39-6791460
Daniel G. Kelly	Trustee	1 Oct 2006	Other	4751840
David Palmer Lorbiecki	Minority owner	1 Jul 2007	Other	2357042

Based in Des Moines

The principal office where Dmkc Advisory Services, LLC performs its advisory services is located at 3900 Ingersoll Avenue, Des Moines, IA 50312, 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 515-221-1133 or by fax 515-221-1031. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at dmkc.com and its LinkedIn profile.