Redwood Financial Network Corp. (Solon)


Redwood Financial Network Corp. is a large advisory firm based in Solon. It manages $94.17 million of regulatory assets for 609 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Florida, North Carolina, Ohio, and Texas.

Redwood Financial Network Corp provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, 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.

Redwood Financial Network Corp: assets under management

The assets under management (AUM) of Redwood Financial Network Corp. is $94.17 million. The firm's AUM has gone down by -9% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $92.72 million in discretionary accounts and $1.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $154.27 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $181.89 thousand.
Redwood Financial Network Corp has custody of $50.53 million in cash and securities for 291 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 67% of the total AUM. The second-largest asset type is exchange traded securities, which make up 12% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Redwood Financial Network Corp. 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 Redwood Financial Network Corp serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Redwood Financial Network Corp is high net worth individuals with 107 clients and $56.21 million of assets under management. Among the 6 most similar advisory firms, Redwood Financial Network Corp has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $92.7 million for 388 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.

Redwood Financial Network Corp doesn't advise any private funds.

Careers at Redwood Financial Network Corp.

The company employs 9 people that are either part- or full-time employees. 78 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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
William John Gordon Managing director/chief compliance officer 1 Jun 2011 25% - 50% 2596540
Sunwook Jin Managing director 1 Jun 2011 25% - 50% 3224530
Russell Byron Howard Managing director 1 Jun 2011 25% - 50% 3277914
Gregory Paul Benner Managing director 1 Jun 2011 25% - 50% 4438329

Based in Solon

The principal office where Redwood Financial Network Corp. performs its advisory services is located at 30285 Bruce Industrial Parkway, Solon, OH 44139, which is also the mailing address of the firm. An additional office of the firm is in Cary, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 440-287-5020 or by fax 440-287-5018. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at redwoodfn.com/.

Registered investment advisers similar to Redwood Financial Network Corp.