Firstrust LLC (Daytona Beach)

Name: Firstrust LLC
Address: 113 Executive Cir., Daytona Beach, FL, 32114
Telephone: 386-788-3737

Firstrust LLC is a large advisory firm based in Daytona Beach. It manages $155.5 million of regulatory assets for 127 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida and Georgia.

Firstrust provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Firstrust: assets under management

The assets under management (AUM) of Firstrust LLC is $155.5 million. The firm's AUM has grown by 159% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $148.5 million in discretionary accounts and $7 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.18 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7 million.

Investments

The firm invests in investment and business development companies the most. They account for 49% of the total AUM. The second-largest asset type is exchange traded securities, which make up 27% of the firm’s portfolio. Investments in cash and cash equivalents form 22% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Firstrust LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Firstrust serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Firstrust is high net worth individuals with 116 clients and $144.5 million of assets under management. Among the 9 most similar advisory firms, Firstrust has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $155.5 million for 127 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.

Firstrust doesn't advise any private funds.

Careers at Firstrust LLC

The company employs 10 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. No 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 compensates 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
Susan Blizzard	Executive assistant	1 Nov 1998	Other	4634622
Michael T Koenig	Managing partner	1 Apr 1999	Other	3038255
Christopher Wood Cannon	Chief compliance officer / chief investment officer	1 Sep 2001	Other	2285237
Brian Charlton	Director of operations	1 Oct 2001	Other	3050505
William James Kearney	Executive director	1 Oct 2002	Other	2495855
Michelle Cannon	Chief operations officer	1 Jan 2004	Other	4766684
Brian Charlton	Chief financial officer	1 Jan 2004	Other	3050505
Julian Charles Bradham	Executive director	1 Jul 2014	Other	1195362

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
The Koenig Family Dynasty Trust	Owner: class b partnership units	1 Mar 2002	75% - 100%	xxx-xx-xxxx
Trustee Melody L. Koenig	Owner: class b partnership units	1 Mar 2002	75% - 100%	xxx-xx-xxxx

Based in Daytona Beach

The principal office where Firstrust LLC performs its advisory services is located at 113 Executive Cir., Daytona Beach, FL 32114, 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 386-788-3737 or by fax 386-788-3717. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at financialteam.com.