De Groote Financial Group, LLC (Westlake Village)

Name: De Groote Financial Group, LLC
Address: 2660 Townsgate Road, Westlake Village, CA, 91361
Telephone: (805) 230-0111

De Groote Financial Group, LLC is a large advisory firm based in Westlake Village. It manages $239 million of regulatory assets for 915 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Arizona, California, Colorado, and 6 other states.

De Groote Financial Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

De Groote Financial Group: assets under management

The assets under management (AUM) of De Groote Financial Group, LLC is $239 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 31% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $239 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $261.2 thousand each.

De Groote Financial Group has custody of $22 million in cash and securities for 55 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 74% of the total AUM. The second-largest asset type is investment and business development companies, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay De Groote Financial Group, LLC for their services and products based on a percentage of assets under management and fixed fees. 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 De Groote 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 De Groote Financial Group is high net worth individuals with 50 clients and $136.2 million of assets under management. Among the 10 most similar advisory firms, De Groote Financial Group has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $239 million for 309 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.

De Groote Financial Group doesn't advise any private funds.

Careers at De Groote Financial Group, LLC

The company employs 5 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 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.

Andrew Paul Krout has served as the Chief Investment Officer since 1 Jul 2019. Fadi Mohamed Ahmed joined the executive team most recently as the Chief Compliance Officer & Chief Operations Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Douglas Clark Degroote	Managing member/chief compliance officer	1 Aug 2013	75% - 100%	2839073
Fadi Mohamed Ahmed	Chief compliance officer & chief operations officer	1 Mar 2019	Other	4780331
Andrew Paul Krout	Chief investment officer	1 Jul 2019	Other	6067740

Based in Westlake Village

The principal office where De Groote Financial Group, LLC performs its advisory services is located at 2660 Townsgate Road, Westlake Village, CA 91361, which is also the mailing address of the firm. An additional office of the firm is in Upton, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (805) 230-0111 or by fax (805) 230-0061. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at degrootefinancial.com.