Kanen Wealth Management LLC (Coral Springs)

Name: Kanen Wealth Management LLC
Address: 5850 Coral Ridge Drive, Coral Springs, FL, 33076 3308
Telephone: 631-863-3100

Kanen Wealth Management LLC is a large advisory firm based in Coral Springs. It manages $109.12 million of regulatory assets for 295 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, Florida, New York, and 3 other states.

Kanen Wealth Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and advisory consultations. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Kanen Wealth Management: assets under management

The assets under management (AUM) of Kanen Wealth Management LLC is $109.12 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $109.12 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $369.89 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 18% of the firm’s portfolio. Investments in state and local bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kanen Wealth Management LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Kanen Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and pooled investment vehicles. The largest group of clients of Kanen Wealth Management is high net worth individuals with 29 clients and $57.09 million of assets under management. Among the 9 most similar advisory firms, Kanen Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $106.89 million for 178 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.

Kanen Wealth Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Kanen Wealth Management LLC

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Lawrence Kanen	Member/chief compliance officer	1 Feb 2016	75% - 100%	1807794

Based in Coral Springs

The principal office where Kanen Wealth Management LLC performs its advisory services is located at 5850 Coral Ridge Drive, Coral Springs, FL 33076 3308 The mailing address of the firm is 5850 Coral Ridge Drive, Coral Springs, FL 33076 3380. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 631-863-3100 or by fax 631-898-6534. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at kanenadvisory.com and its LinkedIn profile.