Fulton Breakefield Broenniman,LLC (Bethesda)


Fulton Breakefield Broenniman,LLC is a large advisory firm based in Bethesda. It manages $1.12 billion of regulatory assets for 2,885 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 25 other states.

Fulton Breakefield Broenniman provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Fulton Breakefield Broenniman: assets under management

The assets under management (AUM) of Fulton Breakefield Broenniman,LLC is $1.12 billion. The firm's AUM has grown by 328% since the beginning of its operation, and $1.83 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.03 billion in discretionary accounts and $98.05 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $467.08 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $142.72 thousand.
Fulton Breakefield Broenniman has custody of $62.37 million in cash and securities for 28 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 16% of the firm’s portfolio. Investments in state and local bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fulton Breakefield Broenniman,LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Susan Breakefield Fulton serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Susan Breakefield Fulton is individuals with 657 clients and $646.66 million of assets under management. Among the 12 most similar advisory firms, Fulton Breakefield Broenniman has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.12 billion for 811 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.

Fulton Breakefield Broenniman doesn't advise any private funds.

Careers at Fulton Breakefield Broenniman,LLC

The company employs 15 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 9 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Susan Breakefield Fulton has been acting as President since 1 Feb 2003. Stein Andre Olavsrud joined the executive team most recently as the Chief Compliance Officer, Evp.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Bridget Marie Simpson Operations manager 1 Mar 1992 Other 4766446
Margaret Clover Broenniman President 1 Dec 1999 Other 1636535
Susan Breakefield Fulton Secretary/treasurer 1 Dec 1999 Other 719294
Inc. Wealthtrust Member 1 Dec 1999 50% - 75% 62-1696932
Susan Breakefield Fulton Chief investment officer and vp 1 Apr 2000 Other 719294
Margaret Clover Broenniman President 1 Apr 2000 Other 1636535
Frederick Joseph Cornelius Vice president 1 Apr 2000 Other 1588904
Inc. Wealthtrust Owner 1 Apr 2000 50% - 75% 62-1696932
Sandra Ann Kingsley Investment advisor rep. 1 Dec 2000 Other 4370219
Incorporated Julian Member 1 Mar 2001 Other 52-2303071
Inc. Cedarcroft Holdings Owner 1 Mar 2001 Other 52-2303282
Susan Breakefield Fulton President/chief manager 1 Feb 2003 50% - 75% 719294
Ralph Walton Illges Secretary/treasurer 1 Feb 2003 Other 1287994
Stein Andre Olavsrud Evp, portfolio manager 1 May 2004 Other 4055485
Mitchel Brian Schlesinger Cheif compliance officer 1 Oct 2004 Other 2786730
Justin Bruce Hacker Secretary/treasurer 1 Nov 2004 Other 4867220
Inc. Broken Clock Member 1 Apr 2005 Other 20-2584121
Wealthtrust Llc Member 1 Nov 2006 50% - 75% 20-5389611
Red Saffire Member 1 Jan 2007 Other 20-8753240
Lauretta Maureen Keegan Chief compliance officer 1 Jul 2012 Other 850862
Michael John Mussio Managing director 1 Sep 2013 Other 4273011
Michael John Mussio President 1 Feb 2017 25% - 50% 4273011
Bridget Marie Simpson Director of operations 1 Feb 2017 Other 4766446
Stein Andre Olavsrud Chief compliance officer, evp 1 Jul 2019 Other 4055485

Indirect Owners

The SEC currently registers 13 indirect owners.

Name Entity Date acquired Ownership Employer ID
Inc. Morgan Keegan Parent/holding company 1 Apr 1986 75% - 100% 62-1153850
Morgan Asset Management Equity owner/shareholder 1 Oct 1999 75% - 100% 62-1277223
Inc. Morgan Asset Management Shareholder 1 Nov 1999 75% - 100% 62-1277223
Susan Breakefield Fulton Shareholder 1 Mar 2001 75% - 100% 719294
Margaret Clover Broenniman Indirect owner 1 Mar 2001 75% - 100% 1636535
Regions Financial Corporation Indirect owner 1 Mar 2001 50% - 75% 63-0371391
Inc. Mk Holding Company Indirect owner 1 Mar 2001 50% - 75% 00-0000000
Mitchel Brian Schlesinger Shareholder 1 Apr 2005 75% - 100% 2786730
Wealthtrust Holdings Co. Member 1 Nov 2006 75% - 100% 20-5576278
Wealthtrust Holdings Llc Shareholder 1 Nov 2006 75% - 100% 20-5493778
Cpc Wt Investment Llc Member 1 Nov 2006 25% - 50% 20-5509625
Falcon Mezzanine Partners Ii Lp Member 1 Nov 2006 25% - 50% 20-2506252
Nmc Cpc Wt Investment Llc Member 1 Nov 2006 25% - 50% 42-1717706

Based in Bethesda

The principal office where Fulton Breakefield Broenniman,LLC performs its advisory services is located at 4520 East West Highway, Bethesda, MD 20814, which is also the mailing address of the firm. An additional office of the firm is in Vienna, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 301-657-8870 or by fax 301-657-0866. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at fbbcapitalpartners.com.