Phillips Financial Management, LLC (Fort Wayne)

Name: Phillips Financial Management, LLC
Address: 6920 Pointe Inverness Way, Fort Wayne, IN, 46804
Telephone: 260-420-7732

Phillips Financial Management, LLC is a large advisory firm based in Fort Wayne. It manages $915.59 million of regulatory assets for 1,745 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, Florida, Illinois, and 5 other states.

Phillips Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and educational seminars and workshops. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Phillips Financial Management: assets under management

The assets under management (AUM) of Phillips Financial Management, LLC is $915.59 million. The firm's AUM has grown by 625% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $743.42 million in discretionary accounts and $172.17 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $435 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.78 million.

Phillips Financial Management has custody of $692.99 million in cash and securities for 544 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 91% of the total AUM. The second-largest asset type is state and local bonds, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, charitable organizations, other investment advisers, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Phillips Financial Management is high net worth individuals with 174 clients and $522.25 million of assets under management. Among the 3 most similar advisory firms, Phillips Financial Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $915.59 million for 670 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.

Phillips Financial Management doesn't advise any private funds.

Careers at Phillips Financial Management, LLC

The company employs 21 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 11 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
John Marshall Behrendt	Managing member	1 May 2004	75% - 100%	16976
Richard Lynn Phillips	Managing member	1 Jul 2004	50% - 75%	705499
Shannon Hicks Hardiek	Managing member	1 Jul 2004	25% - 50%	4396010
Chad Lee Burch	Managing member	1 Jul 2004	Other	1867503
Shannon M Hicks	Managing member	1 Jul 2004	Other	4396010
Reed Paul Miller	Managing member	1 Mar 2005	Other	2681298
Jeanine Marie Herold	Managing member/chief compliance officer	1 Jan 2008	Other	1230992
Edward Bryan Martin	Chief compliance officer	1 Jan 2016	Other	2582072
Ben Jason Langel	Managing member	1 Jan 2016	Other	6436952
Jennifer Anne Macaleese	Chief compliance officer	1 Jan 2018	Other	5978797

Based in Fort Wayne

The principal office where Phillips Financial Management, LLC performs its advisory services is located at 6920 Pointe Inverness Way, Fort Wayne, IN 46804, 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 260-420-7732 or by fax 260-420-5553. The normal business hours are 8:00 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at 1phillips.com.