Firestone Capital Management Inc (Coral Gables)

Name: Firestone Capital Management Inc
Address: 1501 Venera Avenue, Coral Gables, FL, 33146 3047
Telephone: (305) 669-2119

Firestone Capital Management Inc is a large advisory firm based in Coral Gables. It manages $448.23 million of regulatory assets for 1,056 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Florida, and 10 other states.

Firestone Capital Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Firestone Capital Management: assets under management

The assets under management (AUM) of Firestone Capital Management Inc is $448.23 million. The firm's AUM has grown by 564% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $444.65 million in discretionary accounts and $3.58 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $426.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $255.71 thousand.

Firestone Capital Management has custody of $176 million in cash and securities for 136 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 88% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in state and local bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Firestone Capital 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 Jack Marvin Firestone serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Jack Marvin Firestone is high net worth individuals with 154 clients and $394.93 million of assets under management. Among the 8 most similar advisory firms, Firestone Capital Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $442.33 million for 301 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.

Firestone Capital Management doesn't advise any private funds.

Careers at Firestone Capital Management Inc

The company employs 9 people that are either part- or full-time employees. 78 percent of the employees work as investment advisers or researchers. 7 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.

Jack Marvin Firestone has been acting as President since 1 Sep 1997. Jerad O'brien Waggy joined the executive team most recently as the Senior Financial Planner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jack Marvin Firestone	President/chief compliance officer	1 Sep 1997	Other	1576263
Carol Gordon Kaufman	Vice-president	1 Sep 1997	25% - 50%	2880949
Carlos Alberto Carbonell	Principal	1 Jan 2007	25% - 50%	4156160
Anthony English Poppe	Principal	1 Jan 2014	Other	5588505
Louise Greenleaf Owen	Chief compliance officer	1 Jul 2017	Other	6891722
Jerad O'brien Waggy	Senior financial planner	1 Jan 2019	Other	5180439

Based in Coral Gables

The principal office where Firestone Capital Management Inc performs its advisory services is located at 1501 Venera Avenue, Coral Gables, FL 33146 3047, 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 (305) 669-2119 or by fax (305) 669-1976. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at firestonecapital.com.