Dominari Securities LLC (“DS” or the “Firm”) was formed as a FINRA registered securities broker-
dealer in 1986, under the name Nutmeg Securities LLC. Nutmeg Securities, the predecessor firm,
became a state-registered investment advisor in 2001. In 2011, Nutmeg Securities was acquired by
Fieldpoint Private Bank & Trust, under the name of its wholly owned subsidiary, Fieldpoint Private
Securities, LLC. Fieldpoint Private Securities qualified to change its status from a state registered
investment advisor to an SEC registered investment advisor in July 2013.
Dominari Financial Inc., a subsidiary of Dominari Holdings Inc. (NASDAQ: DOMH) entered into
an agreement to purchase Fieldpoint Private Securities LLC, a FINRA broker-dealer and SEC
Registered Investment Advisor on September 9, 2022. The sale received approval from FINRA on
March 20, 2023, and this transaction was finalized on March 27, 2023. As a result of the ownership
change the new name of the firm has been changed to Dominari Securities LLC, a subsidiary of
Dominari Financial Inc.
DS is a national firm, offering a variety of advisory services through its Investment Advisor Representatives,
("IAR" or "Advisor") registered with the Firm. The services to be provided are further discussed in this
brochure and each Advisor will contract with and arrange for specific services to be provided on a client-by-
client basis. The Firm offers investment advisory services through both Wrap fee accounts where the client
pays one advisory fee that covers portfolio management services and transaction costs and non- Wrap fee
accounts where clients pay an advisory fee plus transaction fees for each transaction. This brochure discusses
the Wrap fee accounts. For information on the Wrap fee accounts, please see the Firm’s Form ADV 2A,
Appendix 1, Wrap Fee Brochure.
DS offers the following types of advisory services:
1. Non-Discretionary – DS provides non-discretionary investment management and advice to
clients. Clients choose a non-discretionary engagement by executing a non-discretionary
Advisory Services Agreement. DS provides clients tailored asset allocation advice and
refers clients to outside, unaffiliated investment managers to fulfill the portfolio
construction process. Outside managers are researched, vetted, selected, and monitored by
DS Advisor. Approved managers include separately managed accounts (SMAs), mutual
funds, limited partnerships, unified managed accounts (UMAs) and other types of products.
DS, in consultation with clients, recommends approved managers that are suitable based on
the client’s financial goals, risk tolerance and investment experience. DS may change the
asset allocation and manager selections only with client approval.1
2. Discretionary – DS provides discretionary investment management and advice to clients.
Clients choose a discretionary account by executing a discretionary Advisory Services
Agreement. DS provides clients with tailored asset allocation advice and manages
portfolios on a discretionary basis using a combination of individual securities (such as
stocks, bonds, exchange traded funds [“ETFs”] and limited partnerships) as well as
approved outside, unaffiliated investment managers. The DS Advisor assigned to the
client’s advisory relationship may purchase and sell securities and select outside managers
on a client’s behalf without obtaining the client’s prior approval for each individual trade.
Discretionary clients may set up a donor-advised fund (DAF) whereby the client contributes
cash or assets to a public charitable organization, which then creates a separate account for
the donor. DS may manage the assets itself or utilize a third-party to set up and manage up
such accounts.
Assets Not Recommended/Researched by DS – DS may provide counsel and advice about
client investments that were not recommended or researched by DS, and over which DS
exercises no discretionary control either directly or indirectly. Such investments and/or
portfolios may be held at DS’ preferred custodian or elsewhere (assets held elsewhere are
referred to as “held away”). Advisory fees apply regardless of whether such assets are held
at a DS preferred custodian or held away. DS may, at its sole discretion and in consultation
with the client, negotiate a flat fee for assets held away and included in consolidated
performance reports that is different from the fee charged for assets held at a DS preferred
custodian. Please see Item 5 (“Fees and Compensation”) for more information.
It is suggested that clients with non-discretionary advisory relationships who wish to trade individual securities
establish brokerage accounts (i.e., commission-based transactional accounts) at DS.
3. Consulting Services
• DS offers fee-based financial planning and consulting services. Such services often
involve a specific project or set of projects, such as preparation of a financial plan or
consultation on estate planning, college planning, business planning, etc., with a
deadline agreed upon between the client and DS for completion of the project(s) and
any related work product. In such circumstances a flat fee is negotiated based upon
factors including, but not limited to, the client’s needs and objectives, the complexity
of the plan or consulting engagement, the nature of the anticipated work product, the
time required to develop the plan and/or conclude the consultation, and the overall
experience of the DS Advisor providing the services. Clients who wish to use the Firm’s
financial planning/consulting services will be provided with an agreement at the
commencement of the engagement describing the scope of the project, the expected
final work product, the anticipated timeframe for completion, and the agreed-upon flat
fee. An initial retainer payment is typically required
upon execution of the engagement
agreement, with the balance due upon completion of the engagement or in stages at
scheduled times (or upon achievement of established milestones) during the course of
the engagement. Throughout the project, the assigned DS Advisor will regularly consult
with the client, as well as others if and as directed by the client (such as attorneys,
accountants, etc.), to provide updates on the project’s progress, refine the scope as
warranted, gather additional information as applicable, and respond to any questions.
The written financial plan or consultation may consist of observations, assumptions,
strategies, and recommendations. Depending on the agreement covering the
engagement, the client may have the opportunity to update the financial plan or
consultation document annually, or as relevant circumstances change. The client may
choose to implement all, any component, or none of the financial plan or consulting
recommendations, and those the client wishes to pursue may be implemented through
DS or through any other institution of the client’s choosing. In the event that
implementation is done through DS and depending on the nature of the relationship
entered into to facilitate such implementation, the client may be asked to execute a non-
discretionary or discretionary Advisory Services Agreement (as applicable), with
respect to which the fee schedule described in Item 5 of this Brochure will apply. In
such circumstances, the DS Advisor assigned to the relationship will receive
compensation in addition to that received directly in connection with the financial
planning and/or consulting services.
• DS also offers clients the opportunity to enter into open-ended consulting agreements
whereby DS will provide various ongoing services as set forth in the agreement. As
an example, such services might include working with an institutional client’s
Investment Committee to establish investment objectives and design and implement
a disciplined investment management process, evaluating potential investment
strategies and opportunities (whether or not on the DS platform), performing
portfolio reviews, providing brokerage and private banking services, performance
reporting, and/or such other services as requested by the client and agreed to by DS.
The fee arrangement for such consulting services is negotiated on a case-by-case
basis and may be based upon or include a standard flat payment on a recurring basis
(e.g., annually), an asset-based fee, commissions and other fees for brokerage and
banking services, and/or a combination thereof depending on the specific nature of
the services and the agreement between the client and DS.
Tailored Asset Management Services
Advisory services are tailored to individual client needs, requests, goals and risk tolerance based on
information obtained from each client at account opening and on an ongoing basis as warranted.
There is no guarantee or assurance that our advisory services will in fact be successful in helping
clients achieve their financial goals, and clients may lose a portion or all of their investment. Clients
must carefully consider the investment options available to them, both at DS and elsewhere, to ensure
that they make a well-educated decision when choosing the investment approach and strategy most
appropriate for their individual financial goals and circumstances.
Clients may request reasonable restrictions regarding investments that may be held in their portfolios.
Any such request must be made in writing and will become effective upon acknowledgment and
acceptance of that request. Where client assets are to be managed by outside investment managers,
we will confer with those managers about their ability to abide by any client-requested restrictions
or accommodations. If we manage client assets directly, acceptance of client-requested restrictions
will depend on whether, in our opinion, such restrictions are reasonable and would not unduly
interfere with our ability to provide the investment advisory services necessary to facilitate
achievement of the client’s goals. In either circumstance, if it is determined that a client-requested
restriction cannot be accommodated, the client will be notified so as to have the opportunity to
modify the requested restriction and/or consider other investment options.
Third-party Money Managers
We may determine that opening an account with a professional third-party money manager is in your best
interests. These programs allow you to obtain portfolio management services that typically require higher
minimum account sizes outside of the program. The money managers selected under these programs will
have discretion to determine the securities they buy and sell within the account, subject to reasonable
restrictions imposed by you. Due to the nature of these programs, each of the independent money managers
is obligated to provide you with a separate disclosure document. You should carefully review this
document for important and specific program details, including pricing.
Under these programs, we may:
• Assist in the identification of investment objectives
• Recommend specific investment style and asset allocation strategies
• Assist in the selection of appropriate money managers and review performance and progress
• Recommend reallocation among managers or styles within the program
• Recommend the hiring and firing of money managers utilized by you.
You should read the ADV Part 2 or ADV Part 2A Appendix 1 disclosure document of the money manager
you select for complete details on the charges and fees you will incur.
As of March 28, 2024, regulatory assets under management at DS had an aggregate value of
$26,779,046.21.