Brokersxpress LLC (Chicago)


Brokersxpress LLC is a large advisory firm based in Chicago. It manages $829.14 million of regulatory assets for 6,237 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Brokersxpress provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and turnkey asset management platform. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Brokersxpress: assets under management

The assets under management (AUM) of Brokersxpress LLC is $829.14 million. The firm's AUM has grown by 1464% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $687.03 million in discretionary accounts and $142.11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $127.09 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $171.01 thousand.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Brokersxpress LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, commissions, 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.

Careers at Brokersxpress LLC

Ned Wesley Bennett has been acting as President since 1 Nov 2006. Lynn Marie Konop joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Ned Wesley Bennett Ceo, srop, 1 Mar 2003 Other 1598377
Thomas Edward Stern Cfo, finop, secretary, treasurer 1 Mar 2003 Other 1650359
Gary Anthony Martino Executive vice president, crop 1 Sep 2003 Other 1458334
Inc. Optionsxpress Holdings Owner 1 Jul 2004 75% - 100% 20-1444525
Benjamin Mark Morof General counsel 1 Jan 2005 Other 3125242
Blaine Donald Schwartz President, cco 1 Jan 2005 Other 4734012
Alan Shane Dean Msrb principal 1 Aug 2005 Other 1419205
Douglas Charles Dowell Director of advisory services 1 Sep 2006 Other 1612351
Ned Wesley Bennett Chairman 1 Nov 2006 Other 1598377
Barry Scott Metzger Ceo 1 Nov 2006 Other 4719211
Jason Edward Hersh V. p. operations, crop 1 Jun 2007 Other 2455300
Phillip John Hoeh Chief compliance officer 1 Oct 2007 Other 2231877
Martin Gregory Mcdonagh Msrb principal 1 May 2008 Other 4479791
Inc. Brokersxpress Illinois Brokersxpress illinois, inc. 1 Jun 2008 75% - 100% 42-1679209
Jennifer Caroline Gomez Msrb principal 1 Mar 2010 Other 1652733
Lynn Marie Konop Chief compliance officer 1 Apr 2012 Other 1216310

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Inc. Optionsxpressholdings Owner 1 Jun 2008 75% - 100% 20-1444525
The Charles Schwab Corporation Holding company acquired our holding company 1 Sep 2011 75% - 100% 94-3025021

Based in Chicago

The principal office where Brokersxpress LLC performs its advisory services is located at 311 Monroe Street, Suite 1000, Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in Baytown, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-630-3300. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at brokersxpress.com.