Security Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 1,000 clients last fiscal year.
Security Financial Services reports 1,057 clients. They include 730 individual clients, 283 high-net-worth individuals, and 20 pension and profit-sharing plans. Of its assets, 98.1% ($1.32B across 3,189 accounts) are managed with discretion; $26M across 108 accounts are not. A wrap fee program the firm both sponsors and manages holds $322M. Of its clients, 1% are outside the U.S. It advised 16 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 22% |
| High-net-worth individuals | 27% | 57% |
| Pension and profit-sharing plans | 2% | <1% |
| Charitable organizations | <1% | 17% |
| Corporations and other businesses | 1% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 730 | $294M | 21.9% | $402K |
| High-net-worth individuals | 283 | $767M | 57.1% | $2.71M |
| Pension and profit-sharing plans | 20 | $6.83M | 0.5% | $341K |
| Charitable organizations | 9 | $227M | 16.9% | $25.2M |
| Corporations and other businesses | 15 | $48.5M | 3.6% | $3.24M |
| Total | 1,057 | $1.34B | 100% | $1.27M |
- Clients
- 730
- Regulatory AUM
- $294M
- AUM share
- 21.9%
- Avg. per client
- $402K
- Clients
- 283
- Regulatory AUM
- $767M
- AUM share
- 57.1%
- Avg. per client
- $2.71M
- Clients
- 20
- Regulatory AUM
- $6.83M
- AUM share
- 0.5%
- Avg. per client
- $341K
- Clients
- 9
- Regulatory AUM
- $227M
- AUM share
- 16.9%
- Avg. per client
- $25.2M
- Clients
- 15
- Regulatory AUM
- $48.5M
- AUM share
- 3.6%
- Avg. per client
- $3.24M
Total
- Clients
- 1,057
- Regulatory AUM
- $1.34B
- AUM share
- 100%
- Avg. per client
- $1.27M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 16
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1000
Security Financial Services charges 0.75%–1.50% a year for its Advisory Fees. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Charged at a fixed rate of $200 per hour or a flat fixed rate, paid in arrears.
- Reporting Fees
- Up to $50 per year per account in reporting fees.
Mark Vanderhagen owns 25% to 50% of Security Financial Services. The leadership team of Security Financial Services includes President Alex Budzon and Chief Compliance Officer Patrick O'Connell. It has 16 employees, 6 of them in advisory roles.
Leadership
- Alex BudzonVice President
- Patrick O'ConnellPresident/Chief Compliance Officer
- Joseph DewaldDirector
- Christopher SlybySecretary/Director
- Mark VanderhagenDirector
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Alex Joseph Budzon
- Joseph Dewald
- Daniel William McKeeman
- Laura Morton
- Patrick John O'Connell
- Alan Charles Rohrer
- Christopher Allan Slyby
- Tyler Michael Smith
- Austin Thoms
- Mark David Vanderhagen
Staff
- 16 employees
- 6 in advisory functions
- 6 state-registered reps
- Owns 25% to 50% of Security Financial Services, Inc.
Mark Vanderhagen
Control person · since September 1991
- Owns 25% to 50% of Security Financial Services, Inc.
Patrick O'Connell
Control person · since January 2015
- Owns 10% to 25% of Security Financial Services, Inc.
Joseph Dewald
Control person · since March 2014
- Owns 10% to 25% of Security Financial Services, Inc.
Alex Budzon
Control person · since January 2015
Security Financial Services’ regulatory assets grew 2.0× from $660M (March 2021) to $1.34B (March 2026); clients rose from 975 to 1,057 and employees from 10 to 16.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.34B | 1,057 | 16 | 1 |
| March 2025 | $1.13B | 991 | 14 | 1 |
| April 2024 | $996M | 850 | 13 | 1 |
| March 2023 | $934M | 1,028 | 11 | 1 |
| March 2022 | $785M | 1,010 | 11 | 1 |
| March 2021 | $660M | 975 | 10 | 1 |
Besides its headquarters, Security Financial Services has 0 offices, with 1 listed address in Indiana.
Indiana · 1 listed address
- 12726 Coldwater Road, Fort WayneHQ
Contact and registration details
- Legal name
- Security Financial Services, Inc.
- Headquarters
- 12726 Coldwater Road, Fort Wayne, IN 46845
- Website
- Not reported
- Phone
- 260-619-3100
- @9304417
- SEC file
- 801-69787
- Structure
- Indiana corporation
- Fiscal year end
- December
Security Financial Services uses Charles Schwab ($1.31B) as custodian for its separately managed accounts. Security Financial Services has custody of $246M in client assets for 505 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $1.31B100%
At year end, Security Financial Services’ separately managed accounts were mostly in funds (85%). Its reported 13F holdings for the quarter ended 30 June 2026 total $721M across 203 positions; the largest are SPDR Series Trust (12.1%), Blackrock ETF Trust (4.8%) and iShares TR (4.6%).
What the accounts hold
- Stocks7%
- Funds85%
- Bonds2%
- U.S. government and agency bonds1%
- State and local bonds1%
- Cash4%
- Other2%
- Non-liquid alts, hedge funds, fee annuities, private equity, private credit, reit2%
Reported 13F holdings
- $721M
- Reported 13F value
- 203
- Positions
- 40.5%
- In the 10 largest
- +14.0%
- Value vs. prior quarter
- SPDR Series Trust · ST Str P500etf12.1%
- Blackrock ETF Trust · Isha IN Ctry ETF4.8%
- iShares TR · S&P 500 Grwt ETF4.6%
- Blackrock ETF Trust · iShares US Equit3.9%
- iShares TR · S&P 500 Val ETF3.5%
- Dimensional ETF Trust · US Equi Mark ETF2.8%
- Dimensional ETF Trust · US Core EQT Mkt2.4%
- Blackrock ETF Trust · Isha I IN TE ETF2.2%
- Vanguard Index Fds · S&P 500 ETF Shs2.2%
- Vanguard Scottsdale Fds · Inter Term Treas2.0%
Together, the ten largest are 40.5% of reported value.
How many clients does Security Financial Services have?
Security Financial Services has 1,057 clients and manages $1.34 billion for them, as of March 2026. They include 730 individual clients, 283 high-net-worth individuals, and 20 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Security Financial Services offer?
Security Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Security Financial Services charge?
Security Financial Services charges 0.75%–1.50% a year for its Advisory Fees. The fee is billed in advance and is negotiable.
Which custodians does Security Financial Services use?
Security Financial Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $1.31B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026
How many financial advisors does Security Financial Services have?
Security Financial Services has 6 investment adviser representatives registered with state securities authorities, out of 16 employees, and 6 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Security Financial Services invest in?
At the end of its last fiscal year, Security Financial Services’ separately managed accounts held 85% registered funds (mutual funds, ETFs, BDCs), 7% exchange-traded equities, 4% cash and equivalents, 2% other, 1% U.S. government and agency bonds and 1% state and local bonds. The 2% other category is described as: Non-Liquid Alts, Hedge Funds, Fee Annuities, Private Equity, Private Credit, Reit.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Security Financial Services?
Security Financial Services’ direct owners are Mark Vanderhagen, Joseph Dewald, Patrick O'Connell and Alex Budzon, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Security Financial Services get paid?
Security Financial Services is paid through a percentage of assets under management, hourly charges and fixed fees. 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
How do I contact Security Financial Services?
Security Financial Services’ main office is at 12726 Coldwater Road, Fort Wayne, IN 46845. Its phone number is 260-619-3100.