Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
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
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Commissions
Strategic Financial Services Overview
Strategic Financial Services is a fee-based investment advisory firm that has been providing top-quality services since its inception in 1989. Headquartered in Utica, NY, this firm specializes in offering investment advice only and prides itself on its extensive knowledge and expertise in the financial industry. One of the firm's key strengths is its ability to provide a range of services tailored to meet the unique financial needs of all its clients. Whether you are an individual, small business, or institutional client, Strategic Financial Services can help you achieve your financial goals through its comprehensive portfolio management services. The firm's experienced advisors are dedicated to providing clients with expert financial planning assistance, along with a wide variety of pension consulting services. With a focus on maximizing returns and minimizing risk, Strategic Financial Services is committed to helping clients achieve long-term financial success.
STRATEGIC FINANCIAL SERVICES caters to a diverse range of clients including individuals, high net worth individuals, pension or profit sharing plans, and charitable organizations. Apart from these, the firm also works with a variety of corporation types that may not be listed. Providing a wide range of financial planning and wealth management services, STRATEGIC FINANCIAL SERVICES ensures that the needs of each client are met with utmost diligence and care. Fee structures at STRATEGIC FINANCIAL SERVICES are calculated depending on the type of service provided. Clients looking for asset management services will have to pay a percentage of their assets under management (AUM) as fee. This percentage is calculated on the basis of the value of the assets being managed and is adjusted accordingly to ensure a fair and transparent fee structure. Additionally, for some services, the firm may receive commissions based on the products or services sold to the client. All fee structures are carefully determined with the best interests of the clients at heart, ensuring that STRATEGIC FINANCIAL SERVICES maintains its reputation as a responsible and trustworthy financial advisor.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure of Strategic Financial Services mentions the investment minimum for their programs on page 4. According to the note, the firm's investment minimum is typically $500,000 for new clients. However, this amount may vary for existing clients or for certain programs and accounts. It is important to note that the investment minimums are set by the firm and may be subject to change without notice.
How This Office Can Help Norwood, MA Residents
Allied Portfolio Management offers a range of financial services to clients in Whittier, CA. With years of experience in the field, their team of financial experts is well-equipped to assist clients with various financial challenges they may be facing. For instance, those living in Whittier, CA may need assistance with a variety of financial situations including investment management, retirement planning, estate planning, tax planning, and more. Allied Portfolio Management helps clients in Whittier, CA by offering customized and tailored financial solutions that are specific to each client's unique needs and goals. The firm works closely with clients to understand their financial situation and goals, and then helps them develop a comprehensive financial plan to achieve those goals. They also provide ongoing support to help clients stay on track and make adjustments as needed. Overall, Allied Portfolio Management is dedicated to helping clients in Whittier, CA achieve financial success and security.
Services Offered by Strategic Financial Services
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 Strategic Financial Services 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
Strategic Financial Services is registered to service clients in the following states:
- California
- Colorado
- Connecticut
- Florida
- Louisiana
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Pennsylvania
- South Carolina
- Texas
- Vermont
- Virginia
Disciplinary History
Strategic Financial Services does not have any disclosures. Please visit it's Form ADV for more details.