Sound Income Strategies, LLC (Fort Lauderdale)

Name: Sound Income Strategies, LLC
Address: 6550 N Federal Highway, Fort Lauderdale, FL, 33308
Telephone: 954-487-1860

Sound Income Strategies, LLC is a large advisory firm based in Fort Lauderdale. It manages $707.39 million of regulatory assets for 7,748 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 40 other states.

Sound Income Strategies provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and educational seminars and workshops. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sound Income Strategies: assets under management

The assets under management (AUM) of Sound Income Strategies, LLC is $707.39 million. The firm's AUM has grown by 2674% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $655.35 million in discretionary accounts and $52.05 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $101.17 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $40.98 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sound Income Strategies, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Sound Income Strategies 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 Sound Income Strategies is individuals with 7,697 clients and $681.26 million of assets under management. Among the 11 most similar advisory firms, Sound Income Strategies has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $707.39 million for 7,750 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.

Sound Income Strategies doesn't advise any private funds.

Careers at Sound Income Strategies, LLC

The company employs 43 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 43 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
David Joseph Scranton	Chief compliance officer/managing member	1 Sep 2014	75% - 100%	1711211
Steven Peter Cox	Chief operating officer	1 Jan 2015	Other	4560111
David Thomas Ackerman	Cco	1 Nov 2015	Other	6582101
Huntington Kimberlee Klee	Chief compliance officer	1 Feb 2017	Other	5090746
Michael Charles Tuma	Chief operating officer	1 Feb 2017	Other	1639356
Charles Burton Radlauer	Chief compliance officer	1 Aug 2018	Other	2895611

Based in Fort Lauderdale

The principal office where Sound Income Strategies, LLC performs its advisory services is located at 6550 N Federal Highway, Fort Lauderdale, FL 33308, which is also the mailing address of the firm. An additional office of the firm is in Knoxville, TN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 954-487-1860 or by fax 954-337-0621. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at soundincomestrategies.com/ and its LinkedIn profile.