Bright Futures Wealth Management, LLC (Pittsford)

Name: Bright Futures Wealth Management, LLC
Address: 2850 Clover Street, Pittsford, NY, 14534
Telephone: (585) 231-1595

Bright Futures Wealth Management, LLC is a large advisory firm based in Pittsford. It manages $156 million of regulatory assets for 864 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Florida, Georgia, and 11 other states.

Bright Futures Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bright Futures Wealth Management: assets under management

The assets under management (AUM) of Bright Futures Wealth Management, LLC is $156 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 487% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $156 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $180.55 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 52% of the total AUM. The second-largest asset type is exchange traded securities, which make up 22% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bright Futures Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Bright Futures Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Bright Futures Wealth Management is individuals with 405 clients and $81.93 million of assets under management. Among the 9 most similar advisory firms, Bright Futures Wealth Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $156 million for 481 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.

Bright Futures Wealth Management doesn't advise any private funds.

Careers at Bright Futures Wealth Management, LLC

The company employs 15 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 15 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
Robert Normand Richard	Managing member & chief compliance officer	1 Jul 2015	Other	2476178
Keith Edward Condemi	Managing member	1 Jul 2015	75% - 100%	2220446
Robert Normand Richard	Member	1 Jan 2017	Other	2476178
Keith Edward Condemi	Managing member	1 Jan 2017	50% - 75%	2220446
Jeffrey David Smith	Member	1 Jan 2017	Other	4624552
Bruce Andrew Berman	Member	1 Jan 2017	Other	1054408
Sharon Ifrach	Member	1 Jan 2017	Other	5254220
Collin Robert Fingon	Member	1 Jan 2017	Other	4832770
Martin Eugene Paul	Member	1 Jan 2017	Other	358209
Craig Donald Lefeber	Member/cco	1 Jan 2017	Other	2539782
Melissa Mary Florin	Member	1 Jan 2017	Other	4136793
Lourdes Michel Dejesus	Member	1 Jan 2017	Other	5907549

Based in Pittsford

The principal office where Bright Futures Wealth Management, LLC performs its advisory services is located at 2850 Clover Street, Pittsford, NY 14534, which is also the mailing address of the firm. An additional office of the firm is in Rockville, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (585) 231-1595 or by fax (585) 231-1589. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at brightftr.com.