Family Investment Center, Inc. (Saint Joseph)

Name: Family Investment Center, Inc.
Address: 3805 Beck Road, Saint Joseph, MO, 64506
Telephone: 816-233-4100

Family Investment Center, Inc. is a large advisory firm based in Saint Joseph. It manages $280.83 million of regulatory assets for 1,309 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, Colorado, Indiana, and 9 other states.

Family Investment Center provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, publication of newsletters, and educational seminars and workshops. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Family Investment Center: assets under management

The assets under management (AUM) of Family Investment Center, Inc. is $280.83 million. The firm's AUM has grown by 987% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $271.39 million in discretionary accounts and $9.44 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $208.28 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.57 million.

Family Investment Center has custody of $271.39 million in cash and securities for 595 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 89% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Family Investment Center, Inc. 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 Richard Christopher Salmen serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Christopher Salmen is high net worth individuals with 77 clients and $135.78 million of assets under management. Among the 8 most similar advisory firms, Family Investment Center has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $280.83 million for 615 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.

Family Investment Center doesn't advise any private funds.

Careers at Family Investment Center, Inc.

The company employs 8 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. 7 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.

Richard Christopher Salmen has been acting as President since 1 Oct 2017. Taren Rae Mcmurray joined the executive team most recently as the Financial Planner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thaddus "Dan" S Danford	President	1 Apr 1998	25% - 50%	3067053
Jeannetta R. Danford	Shareholder	1 Aug 1998	Other	4470076
Gary L. Myers	Director	1 Oct 2000	25% - 50%	4470080
Thaddus "Dan" S Danford	Chief compliance officer	1 Sep 2004	25% - 50%	3067053
Janice Elaine Coder	Shareholder	1 Jan 2007	Other	5312955
Jason Theodore White	Shareholder	1 Jan 2007	Other	2174367
J. Elaine Coder	Shareholder	1 Jan 2007	Other	5312955
Thaddus "Dan" S Danford	Principal/ceo/shareholder	1 Jul 2007	75% - 100%	3067053
Gary L. Myers	Principal/chief compliance officer	1 Jul 2007	25% - 50%	4470080
Laura E Price	Shareholder	1 Dec 2010	Other	5798031
Laura Eileen Holthaus	Cco/shareholder	1 Jan 2014	Other	5798031
Laura E Price	Cco/shareholder	1 Jan 2014	Other	5798031
Laura E Holthaus	Cco/shareholder	1 Jan 2014	Other	5798031
Richard Christopher Salmen	President	1 Oct 2017	Other	2230266
Taren Rae Mcmurray	Financial planner	1 Jan 2018	Other	7030055
Nathan Cole Goodman	Financial planner	1 Jan 2018	Other	5651502

Based in Saint Joseph

The principal office where Family Investment Center, Inc. performs its advisory services is located at 3805 Beck Road, Saint Joseph, MO 64506 The mailing address of the firm is 3805 Beck Road, St. Joseph, MO 64508 8807. An additional office of the firm is in Lenexa, KS. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 816-233-4100 or by fax 816-233-3533. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at familyinvestmentcenter.blogspot.com.