Demming Financial Services Corp. (Aurora)

Name: Demming Financial Services Corp.
Address: 13 New Hudson Road, Aurora, OH, 44202
Telephone: 330-562-2122

Demming Financial Services Corp. is a large advisory firm based in Aurora. It manages $435.04 million of regulatory assets for 2,755 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Florida, and 11 other states.

Demming Financial Services Corp provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for approximately 600 clients. On top of advisory services, the firm doesn't engage in other business activities.

Demming Financial Services Corp: assets under management

The assets under management (AUM) of Demming Financial Services Corp. is $435.04 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 1471% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $435.04 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $157.91 thousand each.

Demming Financial Services Corp has custody of $345.08 million in cash and securities for 368 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 97% of the total AUM. The second-largest asset type is exchange traded securities, which make up 2% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Demming Financial Services Corp. 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 David William Demming serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of David William Demming is high net worth individuals with 130 clients and $259.27 million of assets under management. Among the 12 most similar advisory firms, Demming Financial Services Corp has the 6th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $434.58 million for 625 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.

Demming Financial Services Corp doesn't advise any private funds.

Careers at Demming Financial Services Corp.

The company employs 11 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. 5 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.

David William Demming has been acting as President since 1 Sep 1981. Patrick Aaron Justice joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David William Demming	President	1 Sep 1981	75% - 100%	854343
Gail M Demming	Director, secretary and treasurer	1 Sep 1981	75% - 100%	2209782
Gail Marie Demming	Director, secretary and treasurer	1 Sep 1981	75% - 100%	2209782
David William Demming	Vice president	1 Dec 2002	Other	4642088
Karen R Bordonaro	Chief compliance officer	1 Apr 2011	Other	3152460
Patrick Aaron Justice	Chief compliance officer	1 Jan 2018	Other	6339758

Based in Aurora

The principal office where Demming Financial Services Corp. performs its advisory services is located at 13 New Hudson Road, Aurora, OH 44202, 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 330-562-2122 or by fax 330-562-6086. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at demmingfinancial.com.