Financial Management Professionals Inc (Austin)

Name: Financial Management Professionals Inc
Address: 6034 West Courtyard Drive, Austin, TX, 78730
Telephone: 512-329-5174

Financial Management Professionals Inc is a large advisory firm based in Austin. It manages $608.05 million of regulatory assets for 2,046 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Louisiana, Oklahoma, and Texas.

Financial Management Professionals 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 private placement management. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Financial Management Professionals: assets under management

The assets under management (AUM) of Financial Management Professionals Inc is $608.05 million. The firm's AUM has grown by 314% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $550.82 million in discretionary accounts and $57.23 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $272.28 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.49 million.

Financial Management Professionals has custody of $140.36 million in cash and securities for 213 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 69% of the total AUM. The second-largest asset type is exchange traded securities, which make up 22% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Financial Management Professionals Inc for their services and products based on a percentage of assets under management 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 Management Professionals serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Financial Management Professionals is high net worth individuals with 195 clients and $358.38 million of assets under management. Among the 10 most similar advisory firms, Financial Management Professionals has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $607.17 million for 641 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 Management Professionals also advises several private funds. Namely, one hedge fund and two real estate funds. The minimum investment commitment required of non-related persons ranges from $50,000 to $250,000.

Careers at Financial Management Professionals Inc

The company employs 9 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 9 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.

Financial Management Professionals Inc is owned by Harry Milton Hixson. Marc Lester Hixson joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Harry Milton Hixson	Owner/chief compliance officer	1 Jun 1987	25% - 50%	1717539
John Carroll Hixson	Owner	1 Sep 1993	Other	4383095
Kevin Edmond Hixson	Owner	1 Dec 1998	Other	2682653
Kevin Hixson	Owner	1 Dec 1998	Other	2682653
Paul E Hixson	Owner	1 Dec 1998	Other	3047742
Marc Lester Hixson	Owner	1 Dec 2010	Other	3150596
Adam Palmer Todd	Owner	1 Dec 2010	Other	2923569

Based in Austin

The principal office where Financial Management Professionals Inc performs its advisory services is located at 6034 West Courtyard Drive, Austin, TX 78730, which is also the mailing address of the firm. An additional office of the firm is in Beaumont,, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 512-329-5174 or by fax 512-329-5176. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at fmprofessionals.com/.