Nova Financial LLC (Tucson)

Name: Nova Financial LLC
Address: 1630 E River Rd, Tucson, AZ, 85718
Telephone: 520-745-5555

Nova Financial LLC is a large advisory firm based in Tucson. It manages $212.34 million of regulatory assets for 1,498 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Arizona, California, Colorado, and 5 other states.

Nova 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 less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Nova Financial: assets under management

The assets under management (AUM) of Nova Financial LLC is $212.34 million. The firm's AUM has grown by 94% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $198.84 million in discretionary accounts and $13.5 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $141.52 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $145.16 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 34% of the total AUM. The second-largest asset type is investment and business development companies, which make up 25% of the firm’s portfolio. Investments in investment grade corporate bonds form 20% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Nova 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 Nova Financial serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Nova Financial is high net worth individuals with 105 clients and $114.95 million of assets under management. Among the 11 most similar advisory firms, Nova Financial has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $212.34 million for 459 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.

Nova Financial doesn't advise any private funds.

Careers at Nova Financial LLC

The company employs 14 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 10 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Nova Financial And Investment Corp.	Member	1 Apr 2009	75% - 100%	86-0415227
Jacob Ray Kagele	Managing partner	1 May 2009	Other	4606475
Llc Bfd	Managing member	1 Sep 2012	Other	80-0857218
Sandie Nmn Turley	Chief compliance officer	1 Mar 2014	Other	1654884
Sandie Turley	Chief compliance officer	1 Mar 2014	Other	1654884
Llc Nova Financial Holding Company	Manager managed	1 Jul 2014	75% - 100%	46-2221147
John Richard Neighbours	Chief compliance officer	1 Jun 2015	Other	4651442
Blake Alan Bjordahl	Chief compliance officer	1 Mar 2016	Other	1716189

Indirect Owners

The SEC currently registers 10 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Raymond M Desmond	President and director	1 May 1981	25% - 50%	5660004
Jon D Volpe	Director	1 Apr 1995	50% - 75%	5660008
Jacob Ray Kagele	Managing member	1 Sep 2012	75% - 100%	4606475
Raymond Michael Desmond	Managing member	1 Jul 2014	Other	5660004
Jon David Volpe	Managing member	1 Jul 2014	Other	5660008
Nova Financial Holding Llc	Corporation	1 Jul 2014	75% - 100%	46-2221147
Jon David Volpe & Heather Leann Volpe Revocable Trust	Trust	1 Jul 2014	75% - 100%	xxx-xx-xxxx
Heather Leann Volpe	Trustee	1 Jul 2014	75% - 100%	6692794
Raymond M Desmond	Managing member	1 Jul 2014	Other	5660004
Jon D Volpe	Managing member	1 Jul 2014	Other	5660008

Based in Tucson

The principal office where Nova Financial LLC performs its advisory services is located at 1630 E River Rd, Tucson, AZ 85718, which is also the mailing address of the firm. An additional office of the firm is in Colorado Springs, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 520-745-5555 or by fax 520-901-1810. The normal business hours are 8:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at investwithnova.com.