Source Financial Advisors, LLC (New York)

Name: Source Financial Advisors, LLC
Address: 545 Fifth Avenue, New York, NY, 10017
Telephone: 212-273-0402

Source Financial Advisors, LLC is a large advisory firm based in New York. It manages $340.5 million of regulatory assets for 295 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Connecticut, and New York.

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

Source Financial Advisors: assets under management

The assets under management (AUM) of Source Financial Advisors, LLC is $340.5 million. The firm's AUM has grown by 152% since the beginning of its operation, and $3.3 million of the total AUM is attributable to clients outside of the United States.

The firm manages $291.65 million in discretionary accounts and $48.85 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.17 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.09 million.

Investments

The firm invests in exchange traded securities the most. They account for 44% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 20% of the firm’s portfolio. Investments in investment and business development companies form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Source Financial Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Source Financial Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Source Financial Advisors is high net worth individuals with 52 clients and $328.47 million of assets under management. Among the 9 most similar advisory firms, Source Financial Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $340.5 million for 81 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Source Financial Advisors doesn't advise any private funds.

Careers at Source Financial Advisors, LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michelle Marie Smith	Managing member	1 Jul 2012	75% - 100%	1588779
Kristen Elizabeth Niebuhr	President, cco & cco	1 Jul 2012	Other	1965908
John James Glasheen	Chief compliance officer	1 Nov 2015	Other	1113449

Based in New York

The principal office where Source Financial Advisors, LLC performs its advisory services is located at 545 Fifth Avenue, New York, NY 10017, 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 212-273-0402 or by fax 212-320-0603. The normal business hours are 9am to 5pm on Monday - Friday. You can find more information about the New York firm at sourcefa.com.