Firm Info
Firm Size
Services Offered
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Selection of Others Advisors
- Educational Seminars & Workshops
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
- Other
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Commissions
Transamerica Financial Advisors, Inc. Overview
Transamerica Financial Advisors, Inc. is a registered investment advisory firm that has been serving clients since 1991. The company is headquartered in St. Petersburg, FL and specializes in providing investment advice through a fee based fee arrangement. Their services include investment portfolio management for individuals and small businesses, as well as businesses or institutional clients. The firm is a broker-dealer and insurance broker/agent, which means that they are authorized to buy and sell securities, and offer insurance products to their clients. They also provide a selection of other advisors to help clients make informed investment decisions. Transamerica Financial Advisors, Inc. prides itself on offering educational seminars and workshops to help clients make informed financial decisions. These seminars cover a variety of topics, including investment strategies, risk management, retirement planning, and estate planning. The firm is committed to providing personalized service and helping clients achieve their financial goals.
Transamerica Financial Advisors, Inc. is a multifaceted firm that serves a diverse range of clients. The firm's clients include individuals, high net worth individuals, pension or profit sharing plans, charitable organizations, other corporation types not listed, and other types of clients. Transamerica Financial Advisors, Inc. has the expertise to help clients navigate the ever-changing financial landscape, whether they are looking for help with short-term investments or long-term planning for their retirement. When it comes to fee structures, Transamerica Financial Advisors, Inc. offers flexible options depending on the service provided. For some services, the fee is a percentage of assets under management (AUM), which is a common approach to charging fees in the financial industry. When Transamerica Financial Advisors, Inc. is managing a client's assets, this fee structure ensures that the advisors are incentivized to generate a return for their clients. For other services, commission-based fee structures may be used. Commission-based fees are charged when the client buys or sells a product, like a bond or a stock. This fee structure is an alternative to a percentage of AUM fee structure and can be more appropriate for short-term investments and transactions. Regardless of the fee structure chosen, Transamerica Financial Advisors, Inc. is committed to transparent and ethical practices to ensure that their clients receive the best possible service.
Typical Clients, Fee Structures & Investment Minimum
According to the note in their Part 2 Brochure, Transamerica Financial Advisors, Inc. offers programs with minimum investment amounts starting at $10.00. However, the investment minimum may vary depending on the account program selected by the client.
How This Office Can Help Trumbull County, OH Residents
Transamerica Financial Advisors offers a range of services to their clients in Trumbull County, OH. One of the main ways they assist clients is by helping them plan for their retirement. Many people in Trumbull County may not have saved enough for retirement, and Transamerica Financial Advisors can help them create a plan to save more and make their retirement dreams a reality. Additionally, Transamerica Financial Advisors can help clients in Trumbull County with other financial situations, such as debt management and budgeting. Many people in the area may be struggling with debt due to unforeseen circumstances or medical expenses. Transamerica Financial Advisors can help them find ways to manage their debt and create a budget that allows them to save for the future. Overall, the financial advisors at Transamerica are there to help their clients in Trumbull County navigate their finances and achieve their financial goals.
Services Offered by Transamerica Financial Advisors, Inc.
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Transamerica Financial Advisors, Inc. most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Unavailable
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Subscription (Newsletter or Periodical)
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Transamerica Financial Advisors, Inc. is registered to service clients in the following states:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Virgin Islands
Disciplinary History
Transamerica Financial Advisors, Inc. does not have any disclosures. Please visit it's Form ADV for more details.