Novak Financial Planning LLC (Bel Air)

Novak Financial Planning LLC is a large advisory firm based in Bel Air. It manages $245.66 million of regulatory assets for 1,513 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Delaware, Florida, and 5 other states.

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

Novak Financial Planning: assets under management

The assets under management (AUM) of Novak Financial Planning LLC is $245.66 million. The firm's AUM has grown by 342% since the beginning of its operation, and $6.28 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $221.64 million in discretionary accounts and $24.02 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $180.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $83.69 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 41% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in cash and cash equivalents form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Novak Financial Planning LLC for their services and products based on a percentage of assets under management, hourly charges, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Novak Financial Planning serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Novak Financial Planning is individuals with 337 clients and $126.1 million of assets under management. Among the 10 most similar advisory firms, Novak Financial Planning has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $245.66 million for 409 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.

Novak Financial Planning doesn't advise any private funds.

Careers at Novak Financial Planning LLC

The company employs 5 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 2 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
Carol A Novak	Member / chief compliance officer	1 Jun 1999	50% - 75%	1785964
Daniel Joseph Novak	Member	1 Jun 1999	50% - 75%	1316721

Based in Bel Air

The principal office where Novak Financial Planning LLC performs its advisory services is located at 2231 Old Emmorton Road, Bel Air, MD 21015, 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 410-515-6310 or by fax 410-515-6684. The normal business hours are 8:30 - 5:00 on Monday - Friday.