First Nebraska Advisory LLC (North Platte)

Name: First Nebraska Advisory LLC
Address: 202 W. 2 Nd St., North Platte, NE, 69101
Telephone: 308-534-1322

First Nebraska Advisory LLC is a large advisory firm based in North Platte. It manages $213.34 million of regulatory assets for 515 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Colorado, Nebraska, New Mexico, and Texas.

First Nebraska Advisory provides financial planning services, 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.

First Nebraska Advisory: assets under management

The assets under management (AUM) of First Nebraska Advisory LLC is $213.34 million. The company doesn't manage any assets belonging to foreign clients.

Investments

The firm invests in investment and business development companies the most. They account for 96% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 2% of the firm’s portfolio. Investments in exchange traded securities form 1% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay First Nebraska Advisory 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 First Nebraska Advisory serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of First Nebraska Advisory is high net worth individuals with 65 clients and $145.31 million of assets under management. Among the 9 most similar advisory firms, First Nebraska Advisory has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $213.34 million for 515 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.

First Nebraska Advisory doesn't advise any private funds.

Careers at First Nebraska Advisory LLC

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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
First Nebraska Financial Services Inc.	Parent comapny	1 Aug 2018	75% - 100%	47-0707683
Darrel Clarence Smith	President, ceo & chief compliance officer	1 Sep 2018	Other	1003219
John Warren Smith	Vice president	1 Sep 2018	Other	1005687

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Darrel Clarence Smith	Shareholder	1 Jul 1987	25% - 50%	1003219
John Warren Smith	Shareholder	1 Jul 1987	50% - 75%	1005687

Based in North Platte

The principal office where First Nebraska Advisory LLC performs its advisory services is located at 202 W. 2 Nd St., North Platte, NE 69101, 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 308-534-1322 or by fax 308-534-0437. The normal business hours are 8:30 am to 5 pm ct on Monday - Friday. You can find more information about the New York firm at firstnebraskafinancial.com.