Planning Strategies, Inc. (Lancaster)


Planning Strategies, Inc. is a large advisory firm based in Lancaster. It manages $171.61 million of regulatory assets for 1,022 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Florida and Pennsylvania.

Planning Strategies provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for approximately 585 clients. On top of advisory services, the firm doesn't engage in other business activities.

Planning Strategies: assets under management

The assets under management (AUM) of Planning Strategies, Inc. is $171.61 million. The firm's AUM has grown by 59% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $170.15 million in discretionary accounts and $1.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $167.47 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $243.5 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 88% of the total AUM. The second-largest asset type is exchange traded securities, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Planning Strategies, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Planning Strategies serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Planning Strategies is individuals with 562 clients and $99.12 million of assets under management. Among the 11 most similar advisory firms, Planning Strategies has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $171.61 million for 603 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.

Planning Strategies doesn't advise any private funds.

Careers at Planning Strategies, Inc.

The company employs 11 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Scott Glenn Smith Cco 1 Oct 2001 25% - 50% 2123979
Steven Mark Mitchell Cfo/coo 1 Oct 2001 25% - 50% 2114236
Gregory Cyril Staub Cio 1 Apr 2018 25% - 50% 1355080

Based in Lancaster

The principal office where Planning Strategies, Inc. performs its advisory services is located at 147 North Shippen Street, Lancaster, PA 17602, which is also the mailing address of the firm. An additional office of the firm is in Hershey, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 717-207-7123 or by fax 717-291-1529. The normal business hours are 9am to 4pm on Monday - Friday. You can find more information about the New York firm at visitpsionline.com/ and its LinkedIn profile.