Financial Planning Solutions, LLC (Newton)

Name: Financial Planning Solutions, LLC
Address: 120 Wells Avenue, Newton, MA, 02459
Telephone: 617-630-4978

Financial Planning Solutions, LLC is a large advisory firm based in Newton. It manages $118.92 million of regulatory assets for 795 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Massachusetts.

Financial Planning Solutions provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Financial Planning Solutions: assets under management

The assets under management (AUM) of Financial Planning Solutions, LLC is $118.92 million. The firm's AUM has grown by 11% since the beginning of its operation, and $1.33 million of the total AUM is attributable to clients outside of the United States.

The firm manages $105.04 million in discretionary accounts and $13.88 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $180.18 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $65.47 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 43% of the total AUM. The second-largest asset type is exchange traded securities, which make up 35% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Financial Planning Solutions is high net worth individuals with 62 clients and $102.67 million of assets under management. Among the 9 most similar advisory firms, Financial Planning Solutions has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $118.92 million for 163 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.

Financial Planning Solutions doesn't advise any private funds.

Careers at Financial Planning Solutions, LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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
Lyman Hood Jackson	Member and chief compliance officer	1 Jul 2013	50% - 75%	1263219
Richard Howard Fingerman	Member	1 Jul 2013	50% - 75%	1976526

Based in Newton

The principal office where Financial Planning Solutions, LLC performs its advisory services is located at 120 Wells Avenue, Newton, MA 02459, 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 617-630-4978. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at planwithfps.com.