Smith Bruer Advisors, LLC (Tallahassee)

Name: Smith Bruer Advisors, LLC
Address: 1700 Summit Lake Drive, Tallahassee, FL, 32317
Telephone: 850-877-0803

Smith Bruer Advisors, LLC is a large advisory firm based in Tallahassee. It manages $100.97 million of regulatory assets for 296 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Colorado, Florida, Georgia, and Texas.

Smith Bruer Advisors 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.

Smith Bruer Advisors: assets under management

The assets under management (AUM) of Smith Bruer Advisors, LLC is $100.97 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $72.11 million in discretionary accounts and $28.86 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $253.92 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.4 million.

Investments

The firm invests in investment and business development companies the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Smith Bruer Advisors, LLC for their services and products based on a percentage of assets under management. 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 Smith Bruer Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Smith Bruer Advisors is individuals with 174 clients and $57.38 million of assets under management. Among the 9 most similar advisory firms, Smith Bruer Advisors has the 4th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $100.97 million for 205 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.

Smith Bruer Advisors doesn't advise any private funds.

Careers at Smith Bruer Advisors, LLC

The company employs 5 people that are either part- or full-time employees. 60 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Michael Hiraga	Chief compliance officer	1 Feb 2015	Other	6166868
Rene Louis Bruer	Managing member	1 Feb 2015	50% - 75%	5354585
George Marshall Smith	Managing member	1 Feb 2015	50% - 75%	2016997

Based in Tallahassee

The principal office where Smith Bruer Advisors, LLC performs its advisory services is located at 1700 Summit Lake Drive, Tallahassee, FL 32317, which is also the mailing address of the firm. An additional office of the firm is in Colorado Springs, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 850-877-0803 or by fax 850-298-8662. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at smithbrueradvisors.com.