Lifesteps Financial, Inc. (Claremont)

Name: Lifesteps Financial, Inc.
Address: 250 West First Street, Claremont, CA, 91711
Telephone: 909-267-3770

Lifesteps Financial, Inc. is a large advisory firm based in Claremont. It manages $164.78 million of regulatory assets for 731 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California and Texas.

Lifesteps Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and bill payment and reconciliation service. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lifesteps Financial: assets under management

The assets under management (AUM) of Lifesteps Financial, Inc. is $164.78 million. The firm's AUM has grown by 3% since the beginning of its operation, and $190.98 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $153.02 million in discretionary accounts and $11.77 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $248 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $103.21 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 20% of the firm’s portfolio. Investments in investment grade corporate bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lifesteps Financial, Inc. 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 Lifesteps Financial serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Lifesteps Financial is individuals with 337 clients and $75.8 million of assets under management. Among the 8 most similar advisory firms, Lifesteps Financial has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $161.52 million for 420 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.

Lifesteps Financial doesn't advise any private funds.

Careers at Lifesteps Financial, Inc.

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 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
Henry Milton Ford	Principal, cfo, & chief compliance officer	1 Jun 2010	75% - 100%	2697895

Based in Claremont

The principal office where Lifesteps Financial, Inc. performs its advisory services is located at 250 West First Street, Claremont, CA 91711, 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 909-267-3770 or by fax 909-267-3790. The normal business hours are 7:00 am to 4:00 pm on Monday - Friday. You can find more information about the New York firm at lifestepsfinancial.com.