Next Financial Group, Inc. (Houston)

Next Financial Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Next Financial Group: assets under management

The assets under management (AUM) of Next Financial Group, Inc. is $1.65 billion. The firm's AUM has grown by 7771% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.53 billion in discretionary accounts and $123.94 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $155.07 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $83.07 thousand.

Next Financial Group has custody of $463.45 million in cash and securities for 1,684 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 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Next Financial Group, 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 David Lee Holtz serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of David Lee Holtz is individuals with 10,172 clients and $1.04 billion of assets under management. Among the 10 most similar advisory firms, Next Financial Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.65 billion for 11,352 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.

Next Financial Group doesn't advise any private funds.

Careers at Next Financial Group, Inc.

The company employs 457 people that are either part- or full-time employees. 99 percent of the employees work as investment advisers or researchers. 454 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

David Lee Holtz has been acting as President since 1 Aug 1999. Douglas John Ketterer joined the executive team most recently as the Director.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 6 indirect owners.

Based in Houston

The principal office where Next Financial Group, Inc. performs its advisory services is located at 2500 Wilcrest, Houston, TX 77042, which is also the mailing address of the firm. An additional office of the firm is in Sacramento, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 713-789-7122 or by fax 713-980-1687. The normal business hours are 8:00a.m.-5:00p.m. on Monday - Friday. You can find more information about the New York firm at nextfinancial.com/.

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