Bates Financial Advisors, Inc. (Rockford)
Bates Financial Advisors, Inc. is a large advisory firm based in Rockford. It manages $437.78 million of regulatory assets for 2,507 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Florida, Illinois, Michigan, and Texas.
Bates Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, publication of newsletters, and tax advice. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.
Bates Financial Advisors: assets under management
The assets under management (AUM) of Bates Financial Advisors, Inc. is $437.78 million. The firm's AUM has grown by 95% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
Investments
The firm invests in investment and business development companies the most. They account for 82% of the total AUM. The second-largest asset type is other assets, which make up 9% of the firm’s portfolio. Investments in exchange traded securities form 6% of the total invested assets.Fees & Commissions
The advisory firm has several streams of revenue. Clients pay Bates Financial Advisors, Inc. 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 Bates Financial Advisors serves?
The firm provides services to individuals and high net worth individuals. The largest group of clients of Bates Financial Advisors is individuals with 554 clients and $354.48 million of assets under management. Among the 5 most similar advisory firms, Bates Financial Advisors has the 2nd highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $437.78 million for 633 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.
Bates Financial Advisors doesn't advise any private funds.
Careers at Bates Financial Advisors, Inc.
The company employs 9 people that are either part- or full-time employees. 44 percent of the employees work as investment advisers or researchers. 4 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
Based in Rockford
The principal office where Bates Financial Advisors, Inc. performs its advisory services is located at 8437 Northern Ave, Rockford, IL 61107, which is also the mailing address of the firm. An additional office of the firm is in Quincy, IL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 815-332-4020 or by fax 815-332-4002. The normal business hours are 8 am - 5 pm on Monday - Friday. You can find more information about the New York firm at batesfinancialadvisors.com.
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