Xml Financial, LLC (Rockville)

Name: Xml Financial, LLC
Address: 1 Preserve Parkway, Rockville, MD, 20852
Telephone: (301) 770-5234

Xml Financial, LLC is a large advisory firm based in Rockville. It manages $469.96 million of regulatory assets for 763 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alabama, Arizona, California, and 33 other states.

Xml Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Xml Financial: assets under management

The assets under management (AUM) of Xml Financial, LLC is $469.96 million. The firm's AUM has grown by 10% since the beginning of its operation, and $75.96 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $451.89 million in discretionary accounts and $18.07 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $601.71 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.51 million.

Xml Financial has custody of $470 million in cash and securities for 770 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 60% 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 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Xml Financial, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Curtis Jeffrey Congdon serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Curtis Jeffrey Congdon is individuals with 748 clients and $382.87 million of assets under management. Among the 8 most similar advisory firms, Xml Financial has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $447.72 million for 756 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.

Xml Financial doesn't advise any private funds.

Careers at Xml Financial, LLC

The company employs 29 people that are either part- or full-time employees. 79 percent of the employees work as investment advisers or researchers. 23 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Curtis Jeffrey Congdon has been acting as President since 1 Feb 2019. Robert David Kantor has served as the Chief Investment Officer since 1 Feb 2019 and Brett Shane Bernstein is the Chief Executive Officer of Xml Financial, LLC family office. Jennifer Lara Szaro joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Brett Shane Bernstein	Manager	1 Oct 2016	Other	3103034
Robert David Kantor	Manager and chief compliance officer	1 Oct 2016	Other	2117737
Llc Focus Operating	Member (manager)	1 Oct 2016	75% - 100%	20-8161914
Brett Shane Bernstein	Chief executive officer	1 Feb 2019	Other	3103034
Robert David Kantor	Chief investment officer	1 Feb 2019	Other	2117737
Curtis Jeffrey Congdon	President	1 Feb 2019	Other	4890245
Jennifer Lara Szaro	Chief compliance officer	1 Feb 2019	Other	4395464

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Financial Partners	Member	1 Jan 2007	75% - 100%	16-1728260
L.P. Cp Falcon Aiv	Member	1 Oct 2013	25% - 50%	36-4767158
L.P. Trident Vi Parallel Fund	Member	1 Apr 2017	75% - 100%	98-1132009
Llc Trident Ffp Blocker	Limited partner	1 May 2017	25% - 50%	82-1662776
L.P. Trident Vi	Limited partner	1 May 2017	25% - 50%	98-1131820
L.P. Trident Ffp	Member	1 Jul 2017	25% - 50%	82-1662703
Focus Financial Partners Inc.	Member	1 Jul 2018	75% - 100%	47-4780811

Based in Rockville

The principal office where Xml Financial, LLC performs its advisory services is located at 1 Preserve Parkway, Rockville, MD 20852, which is also the mailing address of the firm. An additional office of the firm is in Falls Church, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (301) 770-5234 or by fax (301) 770-4929. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at xmlfg.com and its LinkedIn profile.