Kummer Financial Strategies, LLC (Overland Park)

Name: Kummer Financial Strategies, LLC
Address: 5700 W. 112 Th St, Overland Park, KS, 66211
Telephone: 913-904-5700

Kummer Financial Strategies, LLC is a large advisory firm based in Overland Park. It manages $278.91 million of regulatory assets for 948 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Arizona, California, Colorado, and 5 other states.

Kummer Financial Strategies provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and publication of newsletters. It prepares financial plans for more than 250 clients. On top of advisory services, the firm also engages as certain representatives sell insurance products.

Kummer Financial Strategies: assets under management

The assets under management (AUM) of Kummer Financial Strategies, LLC is $278.91 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $278.91 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $294.2 thousand each.

Kummer Financial Strategies has custody of $60.98 million in cash and securities for 77 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 49% of the total AUM. The second-largest asset type is exchange traded securities, which make up 48% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kummer Financial Strategies, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Patricia Brown Kummer serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Patricia Brown Kummer is high net worth individuals with 92 clients and $154.06 million of assets under management. Among the 12 most similar advisory firms, Kummer Financial Strategies has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $278.34 million for 376 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.

Kummer Financial Strategies doesn't advise any private funds.

Careers at Kummer Financial Strategies, LLC

The company employs 12 people that are either part- or full-time employees. 50 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Patricia Brown Kummer has been acting as President since 1 Jan 2018. Katrina Delores Scott has served as the Chief Investment Officer since 1 Jan 2018 and Martin Christopher Bicknell is the Chief Executive Officer of Kummer Financial Strategies, LLC family office. Anne Jenelle Dorian joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Karen Leigh Sandnes	Vice president of operations	1 Jun 2012	Other	4883814
Cheryl Bicknell	Chief operating officer, chief strategy officer	1 Sep 2013	Other	4906804
Martin Christopher Bicknell	Chief executive officer	1 Oct 2017	Other	2007121
Llc Mariner Wealth Advisors	Managing member	1 Oct 2017	50% - 75%	140195
Patricia Brown Kummer	President/managing partner	1 Jan 2018	25% - 50%	1363057
Katrina Delores Scott	Chief investment officer	1 Jan 2018	Other	4895248
Anne Jenelle Dorian	Chief compliance officer	1 Mar 2018	Other	5736231

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Martin Christopher Bicknell	Elected manager	1 Jul 2007	Other	2007121
Llc Bicknell Family Holding Co.	Manager	1 Apr 2008	75% - 100%	26-0534255
Llc Mariner Holdings	Managing member	1 Sep 2008	75% - 100%	26-2766689

Based in Overland Park

The principal office where Kummer Financial Strategies, LLC performs its advisory services is located at 5700 W. 112 Th St, Overland Park, KS 66211, which is also the mailing address of the firm. An additional office of the firm is in Highlands Ranch, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 913-904-5700 or by fax 913-904-5701. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at kummerfinancial.com.