James Reed Financial Services, Inc. (Cleveland)

Name: James Reed Financial Services, Inc.
Address: 5885 Landerbrook Drive, Cleveland, OH, 44124
Telephone: 216-464-2090

James Reed Financial Services, Inc. is a large advisory firm based in Cleveland. It manages $213.17 million of regulatory assets for 1,080 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Florida, Louisiana, New Hampshire, Ohio, and Texas.

James Reed Financial Services provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

James Reed Financial Services: assets under management

The assets under management (AUM) of James Reed Financial Services, Inc. is $213.17 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 49% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $213.17 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $197.38 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 79% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 17% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay James Reed Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. 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 James Reed Financial Services serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of James Reed Financial Services is high net worth individuals with 69 clients and $126.93 million of assets under management. Among the 10 most similar advisory firms, James Reed Financial Services has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $213.17 million for 307 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.

James Reed Financial Services doesn't advise any private funds.

Careers at James Reed Financial Services, Inc.

The company employs 12 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 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
James Myron Reed	President, chief compliance officer	1 Dec 1986	50% - 75%	1223374
Marsha Suzanne Reed	Executive vice president	1 Jan 2009	Other	2215444
Marsha Suzanne Reed	Executive vice president	1 Jan 2010	Other	2215444
Amanda Elizabeth Lisachenko	Vice president	1 Jan 2010	Other	3056850
Amanda Elizabeth Lisachenko	Chief operating officer	1 May 2013	25% - 50%	3056850
Janet S Edwards	Client relations manager	1 Jan 2019	Other	3238795

Based in Cleveland

The principal office where James Reed Financial Services, Inc. performs its advisory services is located at 5885 Landerbrook Drive, Cleveland, OH 44124, 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 216-464-2090 or by fax 216-464-1163. The normal business hours are 9:00am 5:00pm on Monday - Friday. You can find more information about the New York firm at reed-financial.com.