Elite Income Advisors, Inc

CRD#285429
Investment Advisor Firm

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Learn more about Elite Income Advisors, Inc

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Elite Income Advisors, Inc is located at 6011 University Boulevard, Ellicott City, MD. The firm employs 8 financial advisors to manage client portfolios and provide financial guidance. Elite Income Advisors, Inc is not a registered broker-dealer.

    The firm oversees $150.1 million in assets under management across 1,100 accounts, all of which are discretionary. Over the past year, the firm has provided financial planning services to between 251 and 500 clients. Services offered include financial planning services, pension consulting services, selection of other advisers, and educational seminars. The firm serves retail investors, high net worth investors, and charitable organizations, with retail investors being the largest client type by accounts. The fee structure includes hourly, fixed, and other arrangements. Elite Income Advisors, Inc has 77 high net worth clients and maintains an affiliation with an insurance company or agency.

    Elite Income Advisors, Inc is registered in the states of Delaware, Florida, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and Texas.

    Assets Under Management

    $150.1 million

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    6011 University Boulevard
    Ellicott City, MD 21043

    Elite Income Advisors, Inc by the Numbers

    Total Assets Under Management

    $150.1 million

    National Average: $8.6 billion
    Total Number of Employees

    9

    National Average: 64
    Total Number of Accounts

    1,100

    National Average: 375,227
    Average Account Size

    $136.5 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial services that Elite Income Advisors, Inc offers include financial planning services, pension consulting services, selection of other advisers, and educational seminars. In the prior fiscal year, Elite Income Advisors, Inc provided financial planning services to 251-500 of its customers. The firm is not involved in selling products or offering services other than investment advisory services to its investment advisory accounts. Elite Income Advisors, Inc is also affiliated with a number of other service providers in the financial services industry, including with an insurance company or agency.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Find a firm that offers this service

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial management largely are based on the type of services provided. Fees billed by Elite Income Advisors, Inc may include some combination of the following fee types: hourly, fixed, and other. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company. The company has the ability to withdraw its expenses directly from client accounts.

    Available

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 69% of firms that offer this fee type

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    It works with retail investors, high net worth investors, and charitable organizations. Out of its 1,100 clients, Elite Income Advisors, Inc's biggest client group by number of accounts is retail investors, although it also serves 77 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 13.25%
    • Other Individuals - 86.57%
    • Corporations - 0%
    • Charitable Organizations - 0.17%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Elite Income Advisors, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Elite Income Advisors, Inc

    Connor Wilson
    Ellicott City, MD
    Daniel Dipeso
    Ellicott City, MD
    Prashant Sabapathi
    Ellicott City, MD
    Jonathon Defeo
    Ellicott City, MD
    Nicholas Innerbichler
    Ellicott City, MD
    Wesley Lindquist
    Ellicott City, MD

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