Advanced Group Financial Services, LLC (Utica)

Name: Advanced Group Financial Services, LLC
Address: 2508 Genesee Street, Utica, NY, 13502
Telephone: 315-733-1010

Advanced Group Financial Services, LLC is a mid-sized advisory firm based in Utica. It manages $25.14 million of regulatory assets for 159 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Florida, New York, and Ohio.

Advanced Group Financial Services provides financial planning services and portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Advanced Group Financial Services: assets under management

The assets under management (AUM) of Advanced Group Financial Services, LLC is $25.14 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -4% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $25.14 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $158.13 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 88% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 9% of the firm’s portfolio. Investments in exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Advanced Group Financial Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Advanced Group Financial Services serves?

The only and largest group of clients of Advanced Group Financial Services is individuals with 155 clients and $19.34 million of assets under management. Among the 1 most similar advisory firms, Advanced Group Financial Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $19.34 million for 155 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.

Advanced Group Financial Services doesn't advise any private funds.

Careers at Advanced Group Financial Services, LLC

The company employs 2 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 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
Robert Kenneth Watkins	Chief compliance officer member	1 Oct 2009	75% - 100%	2207716
Richard Kevin Carpenter	Member	1 Oct 2009	Other	1111083

Based in Utica

The principal office where Advanced Group Financial Services, LLC performs its advisory services is located at 2508 Genesee Street, Utica, NY 13502, 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 315-733-1010 or by fax 315-733-3114. The normal business hours are 9am to 5pm on Monday - Friday. You can find more information about the New York firm at advancedgroupfs.com.