Financial Plans & Strategies, Inc. (Greenwood)

Name: Financial Plans & Strategies, Inc.
Address: 375 N. Madison Avenue, Greenwood, IN, 46142 3636
Telephone: 317-882-7675

Financial Plans & Strategies, Inc. is a large advisory firm based in Greenwood. It manages $365.76 million of regulatory assets for 2,022 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, Florida, Illinois, and Indiana.

Financial Plans & Strategies provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Financial Plans & Strategies: assets under management

The assets under management (AUM) of Financial Plans & Strategies, Inc. is $365.76 million. The firm's AUM has grown by 96% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $356.87 million in discretionary accounts and $8.88 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $178.62 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $370.17 thousand.

Financial Plans & Strategies has custody of $352.22 thousand in cash and securities for 1 client 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 95% of the total AUM. The second-largest asset type is exchange traded securities, which make up 5% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Financial Plans & Strategies, 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 Michael Joseph Meiners serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Michael Joseph Meiners is high net worth individuals with 190 clients and $182.24 million of assets under management. Among the 7 most similar advisory firms, Financial Plans & Strategies has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $365.53 million for 2,035 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.

Financial Plans & Strategies doesn't advise any private funds.

Careers at Financial Plans & Strategies, Inc.

The company employs 5 people that are either part- or full-time employees. 80 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.

Michael Joseph Meiners has been acting as President since 1 May 1982. Maggie Lynn Meiners joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Joseph Meiners	President	1 May 1982	75% - 100%	331344
Lara Karmel Desotel	Chief compliance officer	1 Jan 2016	Other	3125966
Maggie Lynn Meiners	Shareholder	1 Jan 2017	Other	4822892

Based in Greenwood

The principal office where Financial Plans & Strategies, Inc. performs its advisory services is located at 375 N. Madison Avenue, Greenwood, IN 46142 3636, which is also the mailing address of the firm. An additional office of the firm is in Indianapolis, IN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 317-882-7675 or by fax 317-882-5981. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at finplans.com.