Freestate Advisors LLC (Overland Park)

Name: Freestate Advisors LLC
Address: 4400 College Blvd, Overland Park, KS, 66211
Telephone: 913-890-2065

Freestate Advisors LLC is a large advisory firm based in Overland Park. It manages $177.19 million of regulatory assets for 790 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Kansas, Louisiana, Missouri, and 3 other states.

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

Freestate Advisors: assets under management

The assets under management (AUM) of Freestate Advisors LLC is $177.19 million. The firm's AUM has grown by 59% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $123.25 million in discretionary accounts and $53.94 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $230.38 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $211.53 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Freestate Advisors 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 Freestate Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Freestate Advisors is high net worth individuals with 86 clients and $103.45 million of assets under management. Among the 8 most similar advisory firms, Freestate Advisors has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $171.62 million for 333 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.

Freestate Advisors doesn't advise any private funds.

Careers at Freestate Advisors LLC

The company employs 11 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates 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
Brett Lee Conley	Member	1 Oct 2007	50% - 75%	1027620
Tom R. Halvorson	Member and chief compliance officer	1 Oct 2007	50% - 75%	5458463
Tom Russell Halvorson	Member and chief compliance officer	1 Oct 2007	50% - 75%	5458463
Kelly Gamble	Chief compliance officer, senior vice president and chief operating officer	1 Feb 2017	Other	6773632
Kelly Ann Gamble	Chief compliance officer, senior vice president and chief operating officer	1 Feb 2017	Other	6773632
Melinda Eisenhour Parks	Chief compliance officer	1 Jan 2019	Other	2324094

Based in Overland Park

The principal office where Freestate Advisors LLC performs its advisory services is located at 4400 College Blvd, Overland Park, KS 66211, which is also the mailing address of the firm. An additional office of the firm is in Wichita, KS. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 913-890-2065 or by fax 888-399-3624. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at freestateadvisors.com.