Kleinman Financial Services Inc. (Port Washington)

Kleinman Financial Services Inc. is a mid-sized advisory firm based in Port Washington. It manages $33.59 million of regulatory assets for 153 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of New Jersey and New York.

Kleinman Financial Services provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Kleinman Financial Services: assets under management

The assets under management (AUM) of Kleinman Financial Services Inc. is $33.59 million. The firm's AUM has grown by 1% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $26.85 million in discretionary accounts and $6.74 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $176.64 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $6.74 million.

Investments

The firm invests in investment and business development companies the most. They account for 68% 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 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kleinman Financial Services Inc. 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 Kleinman Financial Services serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Kleinman Financial Services is high net worth individuals with 7 clients and $15.27 million of assets under management. Among the 1 most similar advisory firms, Kleinman Financial Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $33.59 million for 69 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.

Kleinman Financial Services doesn't advise any private funds.

Careers at Kleinman Financial Services Inc.

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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 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
Robert J Kleinman	Chief compliance officer, president	1 Apr 1996	75% - 100%	1687257

Based in Port Washington

The principal office where Kleinman Financial Services Inc. performs its advisory services is located at 127 Soundview Drive, Port Washington, NY 11050, 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 516-944-3643 or by fax 516-944-3628. The normal business hours are 9 a.m. - 5 p.m. on Monday - Friday.