Fleming & Associates, registered in 2005, serves 1 state(s) with a licensed staff of 1 advisors. Fleming & Associates manages $30.1 million and provides investment advisory services for 86 clients (1:86 advisor/client ratio).
|Minimum Investment||Ask firm|
|Average Client Balance||$350,222|
|Total AUM||$30.1 million|
|Fee Range||Ask firm|
|Advisor / Client Ratio||1:86|
|Languages Offered||Ask firm|
|Headquarters||San Diego, CA|
|SEC Filings||View SEC IAPD CRD #136620|
After checking the disciplinary records of Fleming & Associates, our system found no disciplinary questions to ask. Checks take place monthly.
After checking the regulatory records of Fleming & Associates, our system has identified the following question(s) to ask. Learn more.
Fleming & Associates can accept commissions for its investment advisory services. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. While this allows for a broader range of investment options and management styles a firm can offer, it can also create an incentive for the firm to put their financial interests ahead of your own. Is the firm’s purpose to provide you financial planning and ongoing advice or to sell commission-based products to its clients?
12b-1 fees increase the total annual cost of owning a mutual fund with no guarantee of higher returns. Some firms receive these fees as payments, which creates an incentive to promote them.
Currently Fleming & Associates actively practices as insurance brokers or agents, or they are affiliated with an insurance company or agency. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist.
When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. For instance, research has shown that mutual funds that use incentive fees take on more risk that funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets.
This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their retail clients.
Fleming & Associates has marked in their disclosures that they trade recommended securities. While this often can be seen as "eating your own cooking," there are several inherent conflicts that can arise. For example, front running is when a financial professional buys or sell securities ahead of their client. In short, any financial professional should disclose all positions they hold (or have sold short) that they will also be recommending to you.
Our system found no other conflict questions to ask. Checks take place monthly.
An important aspect of the Trust Algorithm is processing the SEC Form ADV Part 1 filing of each Registered Investment Advisor (RIA). “Item 11 Disclosure Information” contains a list of valuable disclosures that are relevant for Americans.
As identified in SEC Form ADV Part 1, Item 11 “Disclosure Information”, the Trust Algorithm identified the following disciplinary disclosures for Fleming & Associates:
|Activity Restriction – SRO||No|
|Attorney/Accountant Authorization Revocation – SRO||No|
|Business License Revocation – SRO||No|
|Business License Revocation - SEC/CFTC||No|
|Business License Revocation - Other Regulatory Agencies||No|
|Dismissal upon Settlement – Court||Yes|
|Investment-Related Prohibition - Court||No|
|False Statements or Omissions – SRO||No|
|False Statements or Omissions - Other Regulatory Agencies||No|
|False Statements or Omissions - SEC/CFTC||No|
|Monetary Penalty - SEC/CFTC||No|
|Order Entered - SEC/CFTC||No|
|Order Entered - Other Regulatory Agencies||No|
|Regulation Violations - SEC/CFTC||No|
|Regulation Violations - Other Regulatory Agencies||No|
|Regulation Violations – SRO||No|
Unfortunately, there is no single, uniform pricing standard for working with a financial advisor. Catchphrases, including "fee-only," can be helpful; however, Americans often get confused with competitors promoting "fee-based" in response.
Ultimately, to understand the underlying costs of advisory services, we always recommend asking for an itemized fees breakdown and reading the firm's ADV Part 2 Brochure (Item 5, "Fees and Compensation").
|12B-1 Conflict||Ask firm|
|Performance-Based Fees||Ask firm|
|Insurance Agent Conflict - Affiliation||No|
|Insurance Agent Conflict - Firm||Yes|
|Private Investment Management||No|
|Side-by-Side Management||Ask firm|
|Trades Recommended Securities||Yes|
As a financial advisory firm, Fleming & Associates can provide a variety of financial planning services for Americans. Financial advisors help you achieve your life goals, e.g., saving for retirement, by creating a comprehensive financial plan and managing your investment portfolio (e.g., stocks, ETFs, mutual funds, bonds).
Financial planning services can include tax planning, estate planning, retirement planning, or life-based event planning such as saving for college, getting married, purchasing a home, paying down debt, or planning an inheritance.
Fleming & Associates is headquartered in San Diego, CA and currently serves in 1 state: California.
While Fleming & Associates advises clients across a variety of portfolio sizes, the average client balance is currently $350,222. In total, Fleming & Associates manages $30,119,152 in assets.
Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. Financial plans and investment portfolios are always unique to the client's personal financial situation.
investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. As a result, we do not support personal reviews on the site. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form.
This automated report was generated using SEC and FINRA data and was last updated on June 16th, 2022*. For data support, email "firstname.lastname@example.org". Firms that receive a 4.5 or 5-star rating are considered Trusted by investor.com. Learn more.