Petra Financial Advisors Inc (Colorado Springs)

Name: Petra Financial Advisors Inc
Address: 2 North Nevada Ave Suite 1300, Colorado Springs, CO, 80903 1626
Telephone: 719-636-9000

Petra Financial Advisors Inc is a large advisory firm based in Colorado Springs. It manages $123.69 million of regulatory assets for 560 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 4 other states.

Petra Financial Advisors provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Petra Financial Advisors: assets under management

The assets under management (AUM) of Petra Financial Advisors Inc is $123.69 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 24% since the beginning of its operation, and $61.58 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $123.69 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $220.88 thousand each.

Petra Financial Advisors has custody of $25.08 million in cash and securities for 37 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 cash and cash equivalents, which make up 18% of the firm’s portfolio. Investments in state and local bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Petra Financial Advisors Inc for their services and products based on a percentage of assets under management 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 David Stephen Forbes serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of David Stephen Forbes is high net worth individuals with 35 clients and $85.42 million of assets under management. Among the 13 most similar advisory firms, Petra Financial Advisors has the 6th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $123.69 million for 132 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.

Petra Financial Advisors also advises several private funds. Namely, one real estate fund. The minimum investment commitment required of non-related persons is $76,670 for each fund.

Careers at Petra Financial Advisors Inc

The company employs 7 people that are either part- or full-time employees. 29 percent of the employees work as investment advisers or researchers. 4 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.

David Stephen Forbes has been acting as President since 1 May 1991. Jonathan Stephen Forbes joined the executive team most recently as the President/Certified Financial Planner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Stephen Forbes	President/ceo/chief compliance officer	1 May 1991	75% - 100%	1069819
Colin Benjamin Coombs	Chairman	1 May 1991	Other	53357
Lawrence Miles Hogan	Coo	1 Nov 2000	Other	1397791
Jeffrey L Gott	Chief operating officer	1 Jul 2016	Other	6614605
Jonathan Stephen Forbes	Certified financial planner	1 Nov 2016	Other	6142082
Jonathan Stephen Forbes	President/certified financial planner	1 Jul 2019	Other	6142082
David Stephen Forbes	Chairman/chief compliance officer	1 Jul 2019	25% - 50%	1069819
2008 The Maj Trust Dated August 8	Trust	1 Jul 2019	25% - 50%	46-7109398

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Bill Jack Walton	Indirect owner	1 Jul 2019	25% - 50%	6132593

Based in Colorado Springs

The principal office where Petra Financial Advisors Inc performs its advisory services is located at 2 North Nevada Ave Suite 1300, Colorado Springs, CO 80903 1626, 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 719-636-9000 or by fax 719-636-9151. The normal business hours are mon-thur 8:00 - 5:00; fri 8:00-4:00 on Monday - Friday. You can find more information about the New York firm at petrafinancial.com.