Helmsman Financial Group, LLC (Woodinville)

Name: Helmsman Financial Group, LLC
Address: 17330 135 Th Avenue, Ne, Woodinville, WA, 98072
Telephone: 425-485-0381

Helmsman Financial Group, LLC is a large advisory firm based in Woodinville. It manages $110.6 million of regulatory assets for 272 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdiction of Washington.

Helmsman Financial Group provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Helmsman Financial Group: assets under management

The assets under management (AUM) of Helmsman Financial Group, LLC is $110.6 million. The firm's AUM has grown by 147% since the beginning of its operation, and $1.51 million of the total AUM is attributable to clients outside of the United States.

The firm manages $43.05 million in discretionary accounts and $67.55 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $742.19 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $315.65 thousand.

Helmsman Financial Group has custody of $17.53 million in cash and securities for 29 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 70% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Helmsman Financial Group, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Helmsman Financial Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Helmsman Financial Group is high net worth individuals with 45 clients and $91.41 million of assets under management. Among the 11 most similar advisory firms, Helmsman Financial Group has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $110.6 million for 94 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.

Helmsman Financial Group doesn't advise any private funds.

Careers at Helmsman Financial Group, LLC

The company employs 3 people that are either part- or full-time employees. 100 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
Gary Milton Whitsell	Member	1 Oct 1998	25% - 50%	4485324
Christopher John Rieke	Member	1 Oct 1998	25% - 50%	2650076
Douglas Don Springer	Member & chief compliance officer	1 Oct 1998	25% - 50%	1032845
Donald Paul Miller	Member	1 Oct 1998	Other	4485325
Donald P. Miller	Member	1 Oct 1998	Other	4485325
Gary M Whitsell	Member	1 Oct 1998	25% - 50%	4485324
Christopher Rieke	Member	1 Oct 1998	25% - 50%	2650076
Inc. P.C. Herb Sprute	Member	1 Dec 2001	Other	91-1939605

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Herbert Andrew Sprute	Member	1 Dec 2001	75% - 100%	4485328
Herb Sprute	Member	1 Dec 2001	75% - 100%	4485328

Based in Woodinville

The principal office where Helmsman Financial Group, LLC performs its advisory services is located at 17330 135 Th Avenue, Ne, Woodinville, WA 98072, which is also the mailing address of the firm. An additional office of the firm is in Seattle, WA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 425-485-0381 or by fax 425-481-1634. 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 helmsmanfinancial.com.