Bdo Wealth Advisors, LLC (Jacksonville)

Bdo Wealth Advisors, LLC is a large advisory firm based in Jacksonville. It manages $893.67 million of regulatory assets for 1,745 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Florida, Georgia, and 9 other states.

Bdo Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and consulting. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bdo Wealth Advisors: assets under management

The assets under management (AUM) of Bdo Wealth Advisors, LLC is $893.67 million. The firm's AUM has grown by 141% since the beginning of its operation, and $75.82 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $738.56 million in discretionary accounts and $155.11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $462.18 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.06 million.

Bdo Wealth Advisors has custody of $340.9 million in cash and securities for 424 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 22% of the firm’s portfolio. Investments in government bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bdo Wealth Advisors, LLC for their services and products based on a percentage of assets under management 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 Stephen R. Ferrara serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Stephen R. Ferrara is high net worth individuals with 235 clients and $658.91 million of assets under management. Among the 8 most similar advisory firms, Bdo Wealth Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $859.8 million for 771 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.

Bdo Wealth Advisors doesn't advise any private funds.

Careers at Bdo Wealth Advisors, LLC

The company employs 19 people that are either part- or full-time employees. 79 percent of the employees work as investment advisers or researchers. 15 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Stephen R. Ferrara has been acting as President since 1 Apr 2015. Judith Anne Grimmer joined the executive team most recently as the Secretary.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llp Bdo Usa	Sole member/owner	1 Apr 2015	75% - 100%	13-5381590
Sarah Anne Weersing	Secretary	1 Apr 2015	Other	2632307
Lynn G Calhoun	Vice president and treasurer	1 Apr 2015	Other	6482389
Stephen R. Ferrara	President	1 Apr 2015	Other	6482521
Deborah Lynn Maret	Chief compliance officer	1 Jun 2015	Other	2548059
Richard Freeman Kraner	Office managing partner - wealth advisory	1 Jun 2015	Other	2719261
Steven Roland Parish	National leader-wealth advisory	1 Jan 2016	Other	2040509
Jeffrey Bruce Koch	Office managing partner - wealth advisory	1 Aug 2016	Other	2779737
David Thomas Albaneze	Chief compliance officer, managing director-southeast region	1 Apr 2017	Other	708697
David Thomas Albaneze	Vice president	1 Mar 2018	Other	708697
Ryuichi Okamura	Chief compliance officer	1 Jul 2018	Other	7007202
Judith Anne Grimmer	Secretary	1 Sep 2018	Other	7026696

Based in Jacksonville

The principal office where Bdo Wealth Advisors, LLC performs its advisory services is located at 501 Riverside Avenue, Jacksonville, FL 32202, which is also the mailing address of the firm. An additional office of the firm is in St. Louis, MO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 904.396.4015 or by fax 904.399.4012. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday.