Schmidt Financial Group, Inc. (Kirkland)

Name: Schmidt Financial Group, Inc.
Address: 620 Kirkland Way, Kirkland, WA, 98033
Telephone: 425-893-9195

Schmidt Financial Group, Inc. is a large advisory firm based in Kirkland. It manages $361.49 million of regulatory assets for 1,031 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Texas, and Washington.

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

Schmidt Financial Group: assets under management

The assets under management (AUM) of Schmidt Financial Group, Inc. is $361.49 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 55% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $361.49 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $350.63 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 60% of the total AUM. The second-largest asset type is exchange traded securities, which make up 22% of the firm’s portfolio. Investments in state and local bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Schmidt Financial Group, Inc. 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 Glenda Sue Schmidt serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Glenda Sue Schmidt is high net worth individuals with 126 clients and $324.88 million of assets under management. Among the 9 most similar advisory firms, Schmidt Financial Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $361.49 million for 202 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.

Schmidt Financial Group doesn't advise any private funds.

Careers at Schmidt Financial Group, Inc.

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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.

Glenda Sue Schmidt has been acting as President since 1 Nov 1999. Paul Irvin Cox joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Glenda Sue Schmidt	President/chief compliance officer	1 Nov 1999	Other	2432132
Nfp Corp.	Owner	1 Apr 2003	75% - 100%	13-4029115
National Financial Partners Corporation	Owner	1 Apr 2003	75% - 100%	13-4029115
Paul Irvin Cox	Chief compliance officer	1 Sep 2018	Other	2611640

Based in Kirkland

The principal office where Schmidt Financial Group, Inc. performs its advisory services is located at 620 Kirkland Way, Kirkland, WA 98033, 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 425-893-9195 or by fax 425-893-9824. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at schmidtadvantage.com.