Fortis Advisors, LLC (King Of Prussia)

Name: Fortis Advisors, LLC
Address: 1045 First Avenue, King Of Prussia, PA, 19406
Telephone: 610-313-0910

Fortis Advisors, LLC is a large advisory firm based in King Of Prussia. It manages $348.74 million of regulatory assets for 268 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Colorado, Illinois, New Jersey, and Pennsylvania.

Fortis Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, 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.

Fortis Advisors: assets under management

The assets under management (AUM) of Fortis Advisors, LLC is $348.74 million. The firm's AUM has grown by 188% since the beginning of its operation, and $200.4 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $286.05 million in discretionary accounts and $62.69 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.14 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.48 million.

Fortis Advisors has custody of $181.06 million in cash and securities for 59 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 48% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 29% of the firm’s portfolio. Investments in investment and business development companies form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fortis Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based 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 Derek Brock Boles serves?

The firm provides services to individuals, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Derek Brock Boles is high net worth individuals with 45 clients and $120.91 million of assets under management. Among the 8 most similar advisory firms, Fortis Advisors has the lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $286.39 million for 73 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Fortis Advisors also advises several private funds. Namely, one hedge fund and one real estate fund. The minimum investment commitment required of non-related persons ranges from $25,000 to $100,000.

Careers at Fortis Advisors, LLC

The company employs 6 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 6 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.

Derek Brock Boles has been acting as President since 1 Aug 2013. Matthew Topley has served as the Chief Investment Officer since 1 Dec 2014. Colleen Anne Kelly joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lp Fortis Partners	Sole managing member	1 Aug 2013	75% - 100%	46-3036986
Derek Brock Boles	President	1 Aug 2013	Other	4266820
Lp (Formerly Named Fortis Partners L.P.) Fortis Wealth	Holding company	1 Aug 2013	75% - 100%	46-3036986
Jonathan Michael Wowak	Chief compliance officer	1 Aug 2013	Other	5755578
Matthew Topley	Chief investment officer	1 Dec 2014	Other	4604606
Alexandra Cecilia Lafrankie	Chief compliance officer	1 Jun 2016	Other	6675189
Colleen Anne Kelly	Chief compliance officer	1 Nov 2017	Other	2477857

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Derek Brock Boles	Managing partner	1 Jul 2013	25% - 50%	4266820
Bryan Steel Cherny	Managing partner	1 Sep 2013	25% - 50%	6270948
Randall Scot Hubschmidt	Managing partner	1 Sep 2013	25% - 50%	6257111
Llc Fortis Partners	General partner	1 Sep 2013	Other	none

Based in King Of Prussia

The principal office where Fortis Advisors, LLC performs its advisory services is located at 1045 First Avenue, King Of Prussia, PA 19406, 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 610-313-0910 or by fax 610-337-0961. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at fortispartnersllc.com.