Tfc Financial Management, Inc. (Boston)

Name: Tfc Financial Management, Inc.
Address: 260 Franklin Street, Boston, MA, 02110
Telephone: 617-210-6700

Tfc Financial Management, Inc. is a large advisory firm based in Boston. It manages $904.39 million of regulatory assets for 1,067 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Connecticut, Florida, and 8 other states.

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

Tfc Financial Management: assets under management

The assets under management (AUM) of Tfc Financial Management, Inc. is $904.39 million. The firm's AUM has grown by 25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $902.53 million in discretionary accounts and $1.85 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $847.45 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $926.41 thousand.

Tfc Financial Management has custody of $904.39 million in cash and securities for 350 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 85% of the total AUM. The second-largest asset type is exchange traded securities, which make up 6% of the firm’s portfolio. Investments in other assets form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Tfc Financial Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Renee Kamyee Kwok serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Renee Kamyee Kwok is high net worth individuals with 217 clients and $838.38 million of assets under management. Among the 7 most similar advisory firms, Tfc Financial Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $904.39 million for 350 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Tfc Financial Management doesn't advise any private funds.

Careers at Tfc Financial Management, Inc.

The company employs 17 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 10 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.

Renee Kamyee Kwok has been acting as President since 1 Feb 2007. Daniel Steven Kern has served as the Chief Investment Officer since 1 Feb 2017. Constance Haehnel Wyllie joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stephen James Oneill	Principal	1 Dec 1980	25% - 50%	352982
James Lippitt Joslin	Chairman / chief executive officer	1 Mar 1991	Other	4343630
Renee Kamyee Kwok	President	1 Feb 2007	25% - 50%	2003587
Timothy Stephan Meckel	Managing principal	1 Jul 2012	25% - 50%	4348755
Timothy Stephan Meckel	Managing principal / chief compliance officer	1 Jan 2013	25% - 50%	4348755
Tfc Financial Management Inc	Tfc financial management, inc. retained	1 Apr 2014	Other	105062
Constance Haehnel Wyllie	Chief compliance officer	1 Feb 2015	Other	6457681
Daniel Steven Kern	Chief investment officer	1 Feb 2017	Other	1192557

Based in Boston

The principal office where Tfc Financial Management, Inc. performs its advisory services is located at 260 Franklin Street, Boston, MA 02110, 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 617-210-6700 or by fax 617-210-6750. The normal business hours are 8:30am-5:00 pm on Monday - Friday. You can find more information about the New York firm at tfcfinancial.com/.