Lumin Financial, LLC (Southfield)

Name: Lumin Financial, LLC
Address: 2000 Town Center, Southfield, MI, 48075
Telephone: 248-936-9480

Lumin Financial, LLC is a large advisory firm based in Southfield. It manages $152.91 million of regulatory assets for 357 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdiction of Michigan.

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

Lumin Financial: assets under management

The assets under management (AUM) of Lumin Financial, LLC is $152.91 million. The firm's AUM has grown by 48% since the beginning of its operation, and $390.95 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $132.94 million in discretionary accounts and $19.97 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $388.7 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.33 million.

Investments

The firm invests in investment and business development companies the most. They account for 29% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 23% of the firm’s portfolio. Investments in non-investment grade corporate bonds form 22% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lumin Financial, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Lumin Financial 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 Lumin Financial is high net worth individuals with 33 clients and $83.55 million of assets under management. Among the 6 most similar advisory firms, Lumin Financial has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $152.91 million for 144 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.

Lumin Financial doesn't advise any private funds.

Careers at Lumin Financial, LLC

The company employs 6 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Victor Hayes Hicks	Managing principal	1 Oct 2008	75% - 100%	2703057
Naoko Mckelvey	Chief compliance officer	1 Oct 2008	Other	4418886

Based in Southfield

The principal office where Lumin Financial, LLC performs its advisory services is located at 2000 Town Center, Southfield, MI 48075, 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 248-936-9480 or by fax 248-208-7147. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at luminfinancial.com.