Diversified Resources, LLC (Warwick)

Name: Diversified Resources, LLC
Address: 70 Jefferson Blvd, Warwick, RI, 02888
Telephone: 401-941-1500

Diversified Resources, LLC is a large advisory firm based in Warwick. It manages $120.95 million of regulatory assets for 793 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Connecticut, Florida, Massachusetts, and 3 other states.

Diversified Resources provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Diversified Resources: assets under management

The assets under management (AUM) of Diversified Resources, LLC is $120.95 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 10% since the beginning of its operation, and $1.27 million of the total AUM is attributable to clients outside of the United States.

The firm manages $120.95 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $152.53 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 86% of the total AUM. The second-largest asset type is exchange traded securities, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Diversified Resources, 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 Diversified Resources serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Diversified Resources is individuals with 397 clients and $66.52 million of assets under management. Among the 8 most similar advisory firms, Diversified Resources has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $120.95 million for 454 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.

Diversified Resources doesn't advise any private funds.

Careers at Diversified Resources, LLC

The company employs 6 people that are either part- or full-time employees. 17 percent of the employees work as investment advisers or researchers. 3 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
Karen Josephine Bacon	Managing member ,principal and cco	1 Jan 2015	75% - 100%	2410249
Karen Josephine Bacon	Principal and cco	1 Feb 2015	75% - 100%	2410249

Based in Warwick

The principal office where Diversified Resources, LLC performs its advisory services is located at 70 Jefferson Blvd, Warwick, RI 02888, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 401-941-1500 or by fax 401-941-1511. The normal business hours are 9 a.m - 5 p.m. on Monday - Friday. You can find more information about the New York firm at divres.com.