Optimum Financial Services, LLC (Jackson)

Optimum Financial Services, LLC is a large advisory firm based in Jackson. It manages $190.2 million of regulatory assets for 540 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Louisiana, Mississippi, Tennessee, and Texas.

Optimum Financial Services provides 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.

Optimum Financial Services: assets under management

The assets under management (AUM) of Optimum Financial Services, LLC is $190.2 million. The firm's AUM has grown by 32% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $189.32 million in discretionary accounts and $878.5 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $351.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $878.5 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 52% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 36% of the firm’s portfolio. Investments in exchange traded securities form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Optimum Financial Services, LLC for their services and products based on a percentage of assets under management 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 John Walter Garrard serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of John Walter Garrard is high net worth individuals with 52 clients and $157.33 million of assets under management. Among the 6 most similar advisory firms, Optimum Financial Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $190.2 million for 228 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.

Optimum Financial Services doesn't advise any private funds.

Careers at Optimum Financial Services, 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.

John Walter Garrard has been acting as President since 1 Apr 2015. August Joseph Stone joined the executive team most recently as the Investment Advisor Representative.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frank Swayze Brumfield	Manager	1 Mar 2007	25% - 50%	5315835
August Joseph Stone	Investment advisor representative	1 Apr 2015	Other	1741984
John Walter Garrard	President/chief compliance officer	1 Apr 2015	Other	2042646
Jeptha Fowlkes Barbour	Manager	1 Apr 2015	Other	1405488
Eric E Wegener	Member	1 Apr 2015	Other	6501477
Russ M Bourne	Manager	1 Apr 2015	Other	6501478
William Hugh Garrard	Manager/executive vice president	1 Apr 2015	Other	6476150
William B Harper	Member	1 Apr 2015	Other	6501479
Llc Optimum Holdings	Member	1 Apr 2015	75% - 100%	47-3843789

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Frank Swayze Brumfield	Manager	1 Apr 2007	25% - 50%	5315835

Based in Jackson

The principal office where Optimum Financial Services, LLC performs its advisory services is located at 1817 Crane Ridge Drive, Jackson, MS 39216 4902, 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 601-981-5900 or by fax 601-981-5939. The normal business hours are 8:30 - 4:30 on Monday - Friday.