Smartx Advisory Solutions LLC (West Palm Beach)

Name: Smartx Advisory Solutions LLC
Address: 105 S. Narcissus Avenue, West Palm Beach, FL, 33401
Telephone: 561-835-8690

Smartx Advisory Solutions LLC is a large advisory firm based in West Palm Beach. It manages $1.23 billion of regulatory assets for 3,790 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Florida, and Hawaii.

Smartx Advisory Solutions provides portfolio management for individuals and small businesses and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Smartx Advisory Solutions: assets under management

The assets under management (AUM) of Smartx Advisory Solutions LLC is $1.23 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 26% since the beginning of its operation, and $439.68 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $1.23 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $323.44 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 48% of the total AUM. The second-largest asset type is other assets, which make up 38% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Smartx Advisory Solutions LLC for their services and products based on a percentage of assets under management. 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 Smartx Advisory Solutions serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Smartx Advisory Solutions is individuals with 3,522 clients and $846.71 million of assets under management. Among the 9 most similar advisory firms, Smartx Advisory Solutions has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.23 billion for 3,789 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.

Smartx Advisory Solutions doesn't advise any private funds.

Careers at Smartx Advisory Solutions LLC

The company employs 30 people that are either part- or full-time employees. 20 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Smartx Technology Solutions Inc. joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Smartx Technology Solutions Inc.	Shareholder	1 May 2018	75% - 100%	83-0529944
Evan Scott Rapoport	Chief executive officer	1 May 2018	Other	2722067
Louis Michael Milano	Chief compliance officer	1 May 2018	Other	842064
Joseph David Goldstein	Chief financial officer	1 May 2018	Other	5627544
Alexander Charles Smith Ryland	Managing director	1 May 2018	Other	5427368

Based in West Palm Beach

The principal office where Smartx Advisory Solutions LLC performs its advisory services is located at 105 S. Narcissus Avenue, West Palm Beach, FL 33401, 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 561-835-8690 or by fax 561-828-3181. The normal business hours are 8:30am - 5:30pm on Monday - Friday. You can find more information about the New York firm at smartxadvisorysolutions.com.