Claris Financial, LLC (Glen Allen)

Name: Claris Financial, LLC
Address: 4510 Cox Rd., Glen Allen, VA, 23060
Telephone: 804-935-3000

Claris Financial, LLC is a large advisory firm based in Glen Allen. It manages $105.42 million of regulatory assets for 581 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Illinois, Maryland, New Jersey, and 5 other states.

Claris Financial provides portfolio management for individuals and small businesses and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Claris Financial: assets under management

The assets under management (AUM) of Claris Financial, LLC is $105.42 million. The company doesn't manage any assets belonging to foreign clients.

The firm manages $101.62 million in discretionary accounts and $3.81 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $176.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $634.22 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 47% of the total AUM. The second-largest asset type is exchange traded securities, which make up 45% of the firm’s portfolio. Investments in investment grade corporate bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Claris Financial, 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 Claris Financial serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Claris Financial is individuals with 563 clients and $84.21 million of assets under management. Among the 8 most similar advisory firms, Claris Financial has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $105.42 million for 581 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.

Claris Financial doesn't advise any private funds.

Careers at Claris Financial, LLC

The company employs 7 people that are either part- or full-time employees. 71 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Faulkner Paxton	President, chief compliance officer	1 Jan 2009	50% - 75%	2844197
Brian Robert Hall	Investor and consultant	1 Jun 2012	Other	4047879
Patrick Medard Dennis	Investor	1 Jun 2012	Other	3039763

Based in Glen Allen

The principal office where Claris Financial, LLC performs its advisory services is located at 4510 Cox Rd., Glen Allen, VA 23060, which is also the mailing address of the firm. An additional office of the firm is in Midlothian, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-935-3000 or by fax 804-273-0262. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at clarisfinancial.com.