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CFP
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CFP

Eric Somsel

Founders Financial Securities, LLC
10 Years of Experience
Troy, MI
BrokerSells Insurance
View SEC Summary
View SEC Summary

Eric Somsel is a CFP-designated registered investment advisor at Founders Financial Securities, LLC, based in Troy, MI, with 10 years of industry experience. Eric is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include Annuities, Business Owners, Corporate Executives, Education Planning, and 8 more. Their firm serves 9,870 clients with $4.1B in assets under management.

Founders Financial Securities, LLC
Compensation
Fee-Only (% of Portfolio)Fixed/Hourly
Firm Size
117 advisors
Number of Clients
9,870 clients
Average Client Portfolio
$419K average
Assets Under Management
$4.1B

Fee Structure

Minimum Investment:$5K
Investment management only (planning not offered)
Minimum Annual Fee:$125
Portfolio-Based Fees (Tiered)
Portfolio ValueAnnual Fee
Up to $1.0M1.70%
$1M+1.40%

Fees vary by program and are negotiable. Maximum rates reach up to 2.75% depending on the specific program selected. The schedule reflects Private Wealth Solutions tiers; other programs charge flat percentage rates up to 2.75%.

Fee Estimator
Your Portfolio Value
$500K
$0$500K$1M$5M$20M
Estimated Annual Fee
—
View Full SEC Brochure

Location

560 Kirts Boulevard, Suite 112, Troy, MI, 48084

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History

Regulatory History
Clean regulatory record

No disclosures, customer disputes, or regulatory actions on file.

Disclosures include customer complaints, regulatory actions, and other events that advisors must report to the SEC. A clean record means none have been reported.

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Other Business ActivitiesSells Insurance

Eric works as a hockey referee and coach, dedicating a few hours per week. He also owns Somsel Properties, overseeing real estate rental properties, and spends minimal time on this. Eric is a registered representative with EDM Financial Advisors, working full-time and selling life insurance as an independent agent.

Employment History
Current Registrations
Founders Financial Securities, LLC
June 2021 - Present · 5 yrs 4 mos
Founders Financial Securities LLCBroker
June 2021 - Present · 5 yrs 4 mos
Previous Registrations
Securian Financial Services, INC.
June 2016 - June 2021 · 5 yrs
Securian Financial Services, INC.Broker
May 2016 - June 2021 · 5 yrs 1 mo
State Registrations5 states
AZCAFLGAMI
AdvisorBrokerBoth

You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.

Exams
No exam information available for this advisor.
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