Benchmark Financial Wealth Advisors LLC (Boca Raton)


Benchmark Financial Wealth Advisors LLC is a large advisory firm based in Boca Raton. It manages $200.84 million of regulatory assets for 650 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, New Hampshire, New Jersey, New York, and Texas.

Benchmark Financial Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Benchmark Financial Wealth Advisors: assets under management

The assets under management (AUM) of Benchmark Financial Wealth Advisors LLC is $200.84 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 78% since the beginning of its operation, and $3.4 million of the total AUM is attributable to clients outside of the United States.

The firm manages $200.84 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $308.98 thousand each.
Benchmark Financial Wealth Advisors has custody of $8.03 million in cash and securities for 2 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 51% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 22% of the firm’s portfolio. Investments in exchange traded securities form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Benchmark Financial Wealth Advisors 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 Benchmark Financial Wealth Advisors serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Benchmark Financial Wealth Advisors is high net worth individuals with 98 clients and $132.47 million of assets under management. Among the 9 most similar advisory firms, Benchmark Financial Wealth Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $200.84 million for 307 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.

Benchmark Financial Wealth Advisors doesn't advise any private funds.

Careers at Benchmark Financial Wealth Advisors LLC

The company employs 7 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Roger Steven Kalina Managing member & chief compliance officer 1 Feb 2017 50% - 75% 2295079
Llc Db Benchmark Member 1 Feb 2017 25% - 50% 47-2928319
Philip Nathanael Piedt Member 1 Jan 2018 Other 5532987
Llc Benchmark Financial Group Owner 1 Apr 2018 75% - 100% 20-2247755
Mp Holdings Owner 1 Mar 2019 Other 12-3456789

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
Roger Steven Kalina Member 1 Jan 1999 Other 2295079
Philip Nathanael Piedt Member 1 May 2012 75% - 100% 5532987
Michael Issac Daszkal Member 1 Dec 2014 50% - 75% 4487886
Timothy Robert Devlin Member 1 Dec 2014 50% - 75% 5642729
Philip Nathanael Piedt Member 1 Apr 2018 25% - 50% 5532987

Based in Boca Raton

The principal office where Benchmark Financial Wealth Advisors LLC performs its advisory services is located at 2401 Nw Boca Raton Blvd., Boca Raton, FL 33431, which is also the mailing address of the firm. An additional office of the firm is in Sunrise, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (561) 416-2992 or by fax (561) 416-2993. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at benchmarkfinancial.info.