{"url":"https://nivawealth.com/firms/optimum-financial-services-105878","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/105878","regulatoryAum":300193261,"crd":"105878","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"6997286","suffix":null,"lastName":"Garrard III","firstName":"John","middleName":"Walter"},{"crd":"2042646","suffix":"II","lastName":"GARRARD","firstName":"JOHN","middleName":"WALTER"},{"crd":"6476150","suffix":"MR.","lastName":"GARRARD","firstName":"WILLIAM","middleName":"HUGH"}],"total":3,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-03-24","regulatoryAum":258819044,"clients":234,"employees":4,"offices":1},{"filedOn":"2022-04-12","regulatoryAum":268701792,"clients":215,"employees":4,"offices":1},{"filedOn":"2023-03-16","regulatoryAum":253745455,"clients":218,"employees":4,"offices":1},{"filedOn":"2024-03-06","regulatoryAum":257450141,"clients":216,"employees":4,"offices":1},{"filedOn":"2025-02-03","regulatoryAum":269319188,"clients":232,"employees":4,"offices":1},{"filedOn":"2026-02-09","regulatoryAum":300193261,"clients":242,"employees":4,"offices":1}],"secFileNumber":"801-38310","legalName":"Optimum Financial Services, LLC","displayName":"Optimum Financial Services","slug":"optimum-financial-services-105878","website":"https://ofspm.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/105878/37a7775f9e41dc85-r1.webp","tone":"dark","width":550,"height":200,"sourceUrl":"https://www.ofspm.com/","sourceLabel":"Optimum Financial Services, LLC, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/optimum-financial-services-llc/","founded":"1990","organization":"Mississippi limited liability company","fiscalYearEnd":"December","headquarters":{"street":"1817 Crane Ridge Drive, Suite 200","city":"Jackson","state":"MS","stateName":"Mississippi","country":"United States","postalCode":"39216-4902"},"tradeNames":[],"registration":{"secApproved":"22 February 1991","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1209176.8898305085,"staff":{"employees":4,"advisory":3,"brokerDealerReps":0,"insuranceAgents":1,"promoters":0},"aum":{"regulatory":300193261,"discretionary":299989277,"discretionaryAccounts":485,"nonDiscretionary":203984,"nonDiscretionaryAccounts":1,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":194,"regulatoryAum":42976580},{"label":"High-net-worth individuals","clients":42,"regulatoryAum":242389166},{"label":"Pension and profit-sharing plans","clients":6,"regulatoryAum":9365994},{"label":"Corporations and other businesses","clients":null,"fewerThan5":true,"regulatoryAum":5461521}],"feePrograms":[{"role":"other","program":"Investment Consulting Services","summary":"Investment consulting is billed at a minimum hourly rate of $150 per hour, with at least a two-hour engagement, and fees may be negotiable.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007538","versionId":1007538,"submittedOn":"2026-02-09","documentName":"DISCLOSURE BROCHURE - FORM ADV, PART 2A"},{"role":"other","program":"Retirement Plan Advisory Services","summary":"Retirement plan advisory services carry an annual asset-based fee of up to 1.00%, billed at the end of each calendar quarter.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007538","versionId":1007538,"submittedOn":"2026-02-09","documentName":"DISCLOSURE BROCHURE - FORM ADV, PART 2A"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T08:10:03.354783+00:00","documents":[{"name":"DISCLOSURE BROCHURE - FORM ADV, PART 2A","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007538","versionId":1007538,"submittedOn":"2026-02-09"}]},"custodians":[{"name":"Fidelity Brokerage Services LLC","shortName":"Fidelity","location":"Smithfield, RI","smaAssets":296364187}],"custodyNote":"Optimum Financial Services has custody of $4.32M in client assets for 9 clients.","leadership":[{"name":"John Garrard","title":"President/Chief Compliance Officer","crd":"2042646"},{"name":"William Garrard","title":"Executive Vice President","crd":"6476150"}],"ownership":[{"label":"Optimum Holdings, LLC","detail":"Member in the 75% or more ownership band and a control person, since April 2015."},{"label":"Frank Brumfield","detail":"Indirect owner: a manager of Optimum Holdings, LLC in the 25% to 50% band and a control person, since April 2007.","parent":"Optimum Holdings, LLC"}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Mississippi","offices":1,"addresses":[{"street":"1817 Crane Ridge Drive, Suite 200","city":"Jackson","headquarters":true}]}],"brochureServices":["financial planning","insurance"],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"601-981-5900","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Pension consulting services","Selection of other advisers (including private fund managers)"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":14},{"label":"U.S. government/agency bonds","percent":9},{"label":"U.S. state and local bonds","percent":4},{"label":"Investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":40},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":2},{"label":"Cash and cash equivalents","percent":19},{"label":"Other","percent":11,"detail":"Physical Gold and Silber Buillon"}],"privateFunds":0},"sources":{"adv1FilingDate":"9 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/105878/PDF/105878.pdf","brochureDate":"9 February 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007538","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Optimum Financial Services have?","answer":"Optimum Financial Services has 242 clients and manages $300 million for them, as of February 2026. They include 194 individual clients, 42 high-net-worth individuals, and 6 pension and profit-sharing plans.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 9 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Optimum Financial Services offer?","answer":"Optimum Financial Services provides portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, financial planning, and insurance.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Optimum Financial Services use?","answer":"Optimum Financial Services’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $296M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 February 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Optimum Financial Services have?","answer":"Optimum Financial Services has 3 investment adviser representatives registered with state securities authorities, out of 4 employees, and 3 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Optimum Financial Services invest in?","answer":"At the end of its last fiscal year, Optimum Financial Services’ separately managed accounts held 40% registered funds (mutual funds, ETFs, BDCs), 19% cash and equivalents, 14% exchange-traded equities, 11% other, 9% U.S. government and agency bonds, 4% state and local bonds, 2% pooled vehicles (private funds and similar) and 1% investment grade corporate bonds. The 11% other category is described as: Physical Gold and Silber Buillon.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Optimum Financial Services?","answer":"Optimum Financial Services is owned through a holding company by Frank Brumfield. Its direct owner is Optimum Holdings, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 9 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Optimum Financial Services get paid?","answer":"Optimum Financial Services is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Optimum Financial Services registered with the SEC?","answer":"Yes, Optimum Financial Services has been registered with the SEC as an investment adviser since 22 February 1991. Its CRD number is 105878 and its SEC file number is 801-38310.","source":"Form ADV Part 1A, Item 1, filed 9 February 2026; IAPD firm record","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Optimum Financial Services?","answer":"Optimum Financial Services’ main office is at 1817 Crane Ridge Drive, Suite 200, Jackson, MS 39216-4902. Its phone number is 601-981-5900. Its website is ofspm.com.","source":"Form ADV Part 1A, Item 1.F, filed 9 February 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}