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Turn-Key Offices for Independent Financial Svcs Professionals |
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| LOCATION: | Miami, FL | PURPOSE: | Launch a New Business |
| MEMBER SINCE: LAST LOGIN: |
7/18/08 7/28/08 |
INTERESTS: | Investing & Venture Capital Small Business & Entrepreneurship |
Personal Profile |
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| About Me: |
I also have a (Independent) retail financial services practice called Access Financial Group, Inc. which I personalize investment services for Individuals, families and Business's. I consider myself as a HouseHold CFO by working with my clients in bringing all their financial issues work together. My typical client is someone who wants their fingerprints on their investments. |
Business Description |
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| About My Business: |
Access Financial Center, Inc. is not structured as a financial firm. They merely offer office space with tools and applications designed specifically for a financial advisor or broker to run their own independent practice. This fills a niche in the executive office rentals by affording a turn-key solution for a financial professional.
Access Financial Center, Inc. was formed by Mike Simmons in March of 2008. In summary, AFC delivers a cost effective means of establishing an independent financial practice with the tools, applications, office space and environment that is most of the time too costly to have with an independent practice.
The Company has its address in leased premises at the Melon Financial Center at 1111 Brickell Avenue, Miami, FL 33130.
Access Financial Center, Inc. is actively seeking tenants such as:
1. Independent Financial Advisors/Brokers
2. Hedge Funds
3. Financial Planners
4. Proprietary Trading Teams
Revenues are generated from an initial set-up fee, monthly rents, referral bonuses and commission trailers from each person.
The company's Short Term Objectives (within the next three years) are to secure a full Miami office and expand into other markets such as New York and Atlanta. Its Long term objectives are: work in conjunction with our Broker/Dealer to continue expanding based on existing reps and fertile markets.
To achieve the company's objectives, AFC is seeking $150,000.00 in funding through outside investment.
The prospects for Access Financial Center, Inc.’s continued growth are excellent, with major wire-house firms such as Merrill Lynch and Morgan Stanley increasing lay-offs.
AFC plans to strategically secure a location in the heart of every city. ACF wants to provide Independent Advisors a wire-house environment while allowing the reps to retain their independence. Each rep will run his/her own separate business. We want to supply the tools they need: the location, the front office secretary, conference room, trading environment and IT solutions needed to run their business. All for one simple, low monthly fee. This will allow them to focus more on their clients and less on the phone bill or the light bill.
The idea of Executive offices has been a growing business but never has anyone done it for an industry specific group such as financial planners and investment advisors. Lawyers have done it on their own for who knows how long. They collectively open an office in a prestigious building, open their own LLC’s and share the cost of the secretary, rent and other expenses. Usually the big name on the door reads; Law Offices, then you see all the names listed under it.
According to Registered Rep magazine 25% of investment advisors, financial planners, traders, etc. are independent. This number is growing at lightning speed.
The strength of AFC’s business model is offering the necessities of a professional office space for an industry-specific group while eliminating the excess; the $20,000.00 conference table for 20 when most of the time it’s just the advisor and the client. Or the whole floor of a building with a prestigious address and having it half empty (although I’m a “half-full” kind of guy).
The management team has experience on the retail side as well as the administration side of running a successful financial business. We have worked successfully with 30 brokers out of one office and were able to break the red tape that usually delays communication between management and the independent reps.
· Market research shows that total assets under management among independents were $37 billion in 1999. Now, just the top 100 independents hold a remarkable $34 1/2 billion as of November 2007![1]
Financial Objectives
The financial objectives of Access Financial Center, Inc. over the next few years are as follows:
For equity the company has assets of $130,000.00 (see Appendix A, Balance Sheet as of 05/01/2008).
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