Bms Financial Advisors, LLC (Rapid City)

Name: Bms Financial Advisors, LLC
Address: 1508 Mountain View Road, Rapid City, SD, 57702
Telephone: 605-341-1555

Bms Financial Advisors, LLC is a large advisory firm based in Rapid City. It manages $224.57 million of regulatory assets for 1,415 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Arizona, Colorado, Minnesota, and 4 other states.

Bms Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and asset allocation services for retirement accounts. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bms Financial Advisors: assets under management

The assets under management (AUM) of Bms Financial Advisors, LLC is $224.57 million. The firm's AUM has grown by 636% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $215.55 million in discretionary accounts and $9.01 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $159.2 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $147.76 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 91% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in investment grade corporate bonds form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bms Financial Advisors, LLC 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 Douglas Allen Maher serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Douglas Allen Maher is individuals with 621 clients and $145.74 million of assets under management. Among the 8 most similar advisory firms, Bms Financial Advisors has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $224.57 million for 691 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.

Bms Financial Advisors doesn't advise any private funds.

Careers at Bms Financial Advisors, LLC

The company employs 9 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Douglas Allen Maher has been acting as President since 1 Feb 2005. Hugh Thomas Boyle joined the executive team most recently as the Ceo/Managing Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Hugh Thomas Boyle	Ceo/managing member	1 Feb 2005	50% - 75%	3024786
Douglas Allen Maher	President/managing member/chief compliance officer	1 Feb 2005	50% - 75%	3024783

Based in Rapid City

The principal office where Bms Financial Advisors, LLC performs its advisory services is located at 1508 Mountain View Road, Rapid City, SD 57702, 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 605-341-1555 or by fax 605-341-0641. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at bmsadvisors.com/.