{"url":"https://nivawealth.com/firms/spectrum-financial-resources-127453","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/127453","regulatoryAum":235309254,"crd":"127453","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5053871","suffix":"II","lastName":"HARBAR","firstName":"LUCIAN","middleName":"CHRISTOPHER"},{"crd":"1095185","suffix":null,"lastName":"HOBAN","firstName":"DANIEL","middleName":"THOMAS"},{"crd":"4412079","suffix":null,"lastName":"LAIDLAW","firstName":"DAVID","middleName":"JOHN"},{"crd":"3220748","suffix":null,"lastName":"MCMILLAN","firstName":"KEVIN","middleName":"FINDLEY"},{"crd":"4011843","suffix":"II","lastName":"WILLIAMS","firstName":"JAMES","middleName":"DANIEL"}],"total":5,"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":"2023-03-28","regulatoryAum":156882480,"clients":288,"employees":6,"offices":3},{"filedOn":"2024-03-26","regulatoryAum":197393287,"clients":311,"employees":6,"offices":3},{"filedOn":"2025-04-21","regulatoryAum":206606422,"clients":545,"employees":5,"offices":3},{"filedOn":"2026-03-30","regulatoryAum":235309254,"clients":723,"employees":6,"offices":3}],"secFileNumber":"801-126271","legalName":"Spectrum Financial Resources, LLC","displayName":"Spectrum Financial Resources","slug":"spectrum-financial-resources-127453","website":null,"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Michigan limited liability company","fiscalYearEnd":"December","headquarters":{"street":"1661 W. Big Beaver","city":"Troy","state":"MI","stateName":"Michigan","country":"United States","postalCode":"48084"},"tradeNames":[],"registration":{"secApproved":"23 August 2022","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":325326.8561549101,"staff":{"employees":6,"advisory":5,"brokerDealerReps":6,"insuranceAgents":5,"promoters":0},"aum":{"regulatory":235309254,"discretionary":87490851,"discretionaryAccounts":348,"nonDiscretionary":147818403,"nonDiscretionaryAccounts":814,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":584,"regulatoryAum":143683750},{"label":"High-net-worth individuals","clients":139,"regulatoryAum":91527567},{"label":"Charitable organizations","clients":null,"fewerThan5":true,"regulatoryAum":97937}],"feePrograms":[{"role":"main","program":"Portfolio Management","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A","fee_rate_low":1,"fee_rate_high":2,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Advisory Consulting","summary":"Consulting sessions are billed at the firm's hourly rate of $75, payable at the end of each session.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A"},{"role":"other","program":"Financial Planning","summary":"Comprehensive plan fees are $1,500 for assets under $500,000, $3,500 for $500,000 to $1,000,000, $7,500 for $1,000,001 to $2,000,000, and negotiable above $2,000,000.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A"},{"role":"other","program":"Individual Employer Sponsored Retirement Plan Accounts","summary":"Annual fees run from $300 (up to $100,000) to $3,200 ($1,500,001 to $2,000,000), billed quarterly in arrears; all fees are subject to negotiation.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A"},{"role":"other","program":"Tax Preparation","summary":"Tax preparation by the firm principal is billed for a fee separate from the advisory fee.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A"},{"role":"other","program":"Variable Annuity and Life Insurance Accounts","summary":"Portfolio management for variable annuity and life insurance accounts is billed quarterly in arrears at 2.00% up to $500,000 down to 1.00% for $1,000,001 to $5,000,000, or a level fee, all subject to negotiation.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30","documentName":"FORM ADV PART 2A"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T12:54:21.550408+00:00","documents":[{"name":"FORM ADV PART 2A","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","versionId":1032117,"submittedOn":"2026-03-30"}]},"custodians":[{"name":"Pershing LLC","shortName":"Pershing","location":"Jersey City, NJ","smaAssets":166561455},{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Phoenix, AZ","smaAssets":60816972}],"custodyNote":"Spectrum Financial Resources has custody of $16.5M for 64 clients.","otherCustodians":[],"leadership":[{"name":"Daniel Hoban","title":"Managing Member/Chief Compliance Officer","crd":"1095185"},{"name":"Jean Schneider","title":"Managing Member","crd":"1427349"}],"ownership":[{"label":"Daniel Hoban","detail":"Managing member/chief compliance officer in the 50% to 75% ownership band and a control person, since October 2009."},{"label":"Jean Schneider","detail":"Managing member in the 50% to 75% ownership band and a control person, since October 2009."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":0},"listedOfficeAddresses":3,"foreignOffices":[],"officesByState":[{"state":"Michigan","offices":3,"addresses":[{"street":"1661 W. Big Beaver","city":"Troy","headquarters":true},{"street":"22611 Greater Mack Ave.","city":"St. Clair Shores"},{"street":"63 Kercheval Ave","city":"Grosse Pointe Farms"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"248-643-0033","stateRegisteredReps":5,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)","Other"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)","Other"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":28},{"label":"U.S. government/agency bonds","percent":7},{"label":"Securities issued by registered investment companies or business development companies","percent":53},{"label":"Cash and cash equivalents","percent":7},{"label":"Other","percent":5,"detail":"Variable Annuity Sub-Accounts"}],"privateFunds":0},"sources":{"adv1FilingDate":"30 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/127453/PDF/127453.pdf","brochureDate":"30 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032117","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 Spectrum Financial Resources have?","answer":"Spectrum Financial Resources has 723 clients and manages $235 million for them, as of March 2026. They include 584 individual clients and 139 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Spectrum Financial Resources offer?","answer":"Spectrum Financial Resources 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Spectrum Financial Resources charge?","answer":"Spectrum Financial Resources charges 1.00%–2.00% a year for its Portfolio Management. The fee is billed in arrears and is negotiable.","source":"FORM ADV PART 2A, filed 30 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Spectrum Financial Resources use?","answer":"Spectrum Financial Resources’ separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $167M and Charles Schwab & Co., Inc. (Phoenix, AZ), with $60.8M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Spectrum Financial Resources have?","answer":"Spectrum Financial Resources has 5 investment adviser representatives registered with state securities authorities, out of 6 employees, and 5 perform investment advisory functions. 6 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.","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 Spectrum Financial Resources invest in?","answer":"At the end of its last fiscal year, Spectrum Financial Resources’ separately managed accounts held 53% registered funds (mutual funds, ETFs, BDCs), 28% exchange-traded equities, 7% U.S. government and agency bonds, 7% cash and equivalents and 5% other. The 5% other category is described as: Variable Annuity Sub-Accounts.","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 Spectrum Financial Resources?","answer":"Spectrum Financial Resources’ direct owners are Daniel Hoban (50% to 75%) and Jean Schneider (50% to 75%).","source":"Form ADV Part 1A, Schedules A and B, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Spectrum Financial Resources get paid?","answer":"Spectrum Financial Resources is paid through a percentage of assets under management, hourly charges, fixed fees and other compensation. 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":"How do I contact Spectrum Financial Resources?","answer":"Spectrum Financial Resources’ main office is at 1661 W. Big Beaver, Troy, MI 48084. Its phone number is 248-643-0033.","source":"Form ADV Part 1A, Item 1.F, filed 30 March 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."}