Security Financial Services, Inc. (Fort Wayne)

Name: Security Financial Services, Inc.
Address: 12726 Coldwater Road, Fort Wayne, IN, 46845
Telephone: 260-619-3100

Security Financial Services, Inc. is a large advisory firm based in Fort Wayne. It manages $483.04 million of regulatory assets for 1,818 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Florida, Illinois, Indiana, and 4 other states.

Security Financial Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Security Financial Services: assets under management

The assets under management (AUM) of Security Financial Services, Inc. is $483.04 million. The firm's AUM has grown by 502% since the beginning of its operation, and $800.45 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $457.34 million in discretionary accounts and $25.7 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $274.85 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $166.87 thousand.

Security Financial Services has custody of $142.16 million in cash and securities for 408 clients 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 67% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Security Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Patrick John O Connell serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Patrick John O Connell is high net worth individuals with 104 clients and $247.2 million of assets under management. Among the 9 most similar advisory firms, Security Financial Services has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $483.04 million for 762 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.

Security Financial Services doesn't advise any private funds.

Careers at Security Financial Services, Inc.

The company employs 10 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 5 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.

Patrick John O Connell has been acting as President since 1 Jan 2015. Alex Joseph Budzon joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mark David Vanderhagen	President / chief compliance officer	1 Sep 1991	50% - 75%	1634101
Floyd William Griffin	Secretary/treasurer	1 Sep 1991	50% - 75%	1448763
Joseph Dewald	Secretary/treasurer	1 Mar 2014	Other	2881285
Patrick John O Connell	Director	1 Jan 2015	Other	4985255
Alex Joseph Budzon	Director	1 Jan 2015	Other	6019133

Based in Fort Wayne

The principal office where Security Financial Services, Inc. performs its advisory services is located at 12726 Coldwater Road, Fort Wayne, IN 46845, 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 260-619-3100 or by fax 260-619-3609. The normal business hours are 8:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at wealthag.com.