First Heartland Consultants, Inc. (Lake St Louis)

Name: First Heartland Consultants, Inc.
Address: 4101 Lake St Louis Blvd, Lake St Louis, MO, 63367
Telephone: 636-625-0900

First Heartland Consultants, Inc. is a large advisory firm based in Lake St Louis. It manages $1.24 billion of regulatory assets for 7,782 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

First Heartland Consultants provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

First Heartland Consultants: assets under management

The assets under management (AUM) of First Heartland Consultants, Inc. is $1.24 billion. The firm's AUM has grown by 492% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $864.23 million in discretionary accounts and $371.51 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $126.16 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $398.62 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 62% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Heartland Consultants, Inc. 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 David Michael Hoff serves?

The firm provides services to individuals, charitable organizations, and corporations or other businesses. The largest group of clients of David Michael Hoff is individuals with 7,757 clients and $1.23 billion of assets under management. Among the 12 most similar advisory firms, First Heartland Consultants has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.24 billion for 7,782 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.

First Heartland Consultants doesn't advise any private funds.

Careers at First Heartland Consultants, Inc.

The company employs 106 people that are either part- or full-time employees. 92 percent of the employees work as investment advisers or researchers. 106 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 receive compensation from other entities for client referrals.

David Michael Hoff has been acting as President since 1 Mar 1993. Jeanne Ann Jehle joined the executive team most recently as the Chief Legal Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Michael Hoff	President	1 Mar 1993	50% - 75%	1058737
Julius Joseph Anderson	Vice president	1 Mar 1993	50% - 75%	1135890
Zeonia M Christy	Chief compliance officer	1 Oct 2004	Other	4067924
Jeanne Ann Jehle	Chief legal officer	1 Nov 2006	Other	4885198

Based in Lake St Louis

The principal office where First Heartland Consultants, Inc. performs its advisory services is located at 4101 Lake St Louis Blvd, Lake St Louis, MO 63367, which is also the mailing address of the firm. An additional office of the firm is in Ann Arbor, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 636-625-0900. The normal business hours are 8:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at firstheartland.com.