Socius Family Office, LLC (Fort Lauderdale)

Socius Family Office provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and bill pay, bookkeeping and consolidated reporting. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Socius Family Office: assets under management

The assets under management (AUM) of Socius Family Office, LLC is $477.69 million. The firm's AUM has grown by 210% since the beginning of its operation, and $1.22 million of the total AUM is attributable to clients outside of the United States.

The firm manages $346.86 million in discretionary accounts and $130.83 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $922.49 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $398.88 thousand.

Socius Family Office has custody of $21.57 million in cash and securities for 40 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 13% 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 Socius Family Office, LLC for their services and products based on a percentage of assets under management 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 Mark Jeffrey Baniewicz serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Mark Jeffrey Baniewicz is high net worth individuals with 86 clients and $469.7 million of assets under management. Among the 11 most similar advisory firms, Socius Family Office has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $477.69 million for 114 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.

Socius Family Office doesn't advise any private funds.

Careers at Socius Family Office, LLC

The company employs 11 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. 6 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.

Mark Jeffrey Baniewicz has been acting as President since 1 Dec 2007. Kaylyn E. Norvell joined the executive team most recently as the Coo.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 3 indirect owners.

Based in Fort Lauderdale

The principal office where Socius Family Office, LLC performs its advisory services is located at 200 East Las Olas Boulevard, Fort Lauderdale, FL 33301, which is also the mailing address of the firm. An additional office of the firm is in Sewickley, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 561-404-0484 or by fax 561-404-0494. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at sociusfamilyoffice.com.

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