Main Street Financial Solutions, LLC (Newtown)

Name: Main Street Financial Solutions, LLC
Address: 503 E Washington Avenue, Newtown, PA, 18940
Telephone: 215-259-5021

Main Street Financial Solutions, LLC is a large advisory firm based in Newtown. It manages $883.8 million of regulatory assets for 2,870 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 15 other states.

Main Street Financial Solutions provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Main Street Financial Solutions: assets under management

The assets under management (AUM) of Main Street Financial Solutions, LLC is $883.8 million. The firm's AUM has grown by 1546% since the beginning of its operation, and $1.11 million of the total AUM is attributable to clients outside of the United States.

The firm manages $760.47 million in discretionary accounts and $123.34 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $308.13 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $306.81 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 60% of the total AUM. The second-largest asset type is state and local bonds, which make up 20% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Main Street Financial Solutions, LLC 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 Main Street Financial Solutions serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Main Street Financial Solutions is high net worth individuals with 277 clients and $694.72 million of assets under management. Among the 12 most similar advisory firms, Main Street Financial Solutions has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $883.8 million for 903 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.

Main Street Financial Solutions doesn't advise any private funds.

Careers at Main Street Financial Solutions, LLC

The company employs 21 people that are either part- or full-time employees. 90 percent of the employees work as investment advisers or researchers. 19 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Brett Robert Danko	Managing member, ceo	1 Jun 2002	50% - 75%	2347783
Michael Scott Minter	Cio	1 Oct 2008	Other	4392283
Tara Anne Conti	Coo	1 Oct 2008	Other	5491146
Dawn Marie D'orlando	Chief compliance officer	1 Apr 2009	Other	5670958
Douglas Robert Buchan	Member	1 Jul 2011	Other	5385636
Kerrie Jeanne Wagner	Member	1 Dec 2013	Other	2093825
Marie Therese Dzelzgalvis	Chief financial officer	1 Jan 2017	Other	7089074
Courtney Anne Elliott	Chief administrative officer	1 Sep 2017	Other	7085490

Based in Newtown

The principal office where Main Street Financial Solutions, LLC performs its advisory services is located at 503 E Washington Avenue, Newtown, PA 18940, which is also the mailing address of the firm. An additional office of the firm is in Providence, RI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-259-5021 or by fax 267-364-5410. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at msfsolutions.com.