Smit M. Desai

RICHARD BROTHERS, FINANCIAL ADVISORS

South Portland, ME 04106

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CRD#: 7396228

Professional summary

Smit Mayank Desai, who also goes by Smit Desai, is a registered financial advisor currently at RICHARD BROTHERS, FINANCIAL ADVISORS located in South Portland, Maine and RICHARD BROTHERS SECURITIES located in South Portland, Maine.

Smit is registered as an IAR (Investment Advisor Representative) and RR (Registered Representative) and started their career in finance in 2023. Smit has worked at 2 firms and has passed the Series 66, Series 7TO and SIE exams.

Question & Answer

Are you a "fiduciary"?

Yes

Aliases

Smit Desai

Other business activities

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

The advisor shows no other business activity.

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view Smit Mayank Desai's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

Certified licenses

Advisors may have various certifications and credentials from different organizations. AdvisorCheck highlights these seven certifications - AIF®, CFP®, ChFC®, CFA, CLU®, CIMA®, CPWA®

None

Experience

Current

May 13, 2024 - Present

RICHARD BROTHERS, FINANCIAL ADVISORS

Office #1: 50 Donald B. Dean Drive Suite One, South Portland, ME 04106

RIA

CRD#: 113826

South Portland, ME

Current

August 7, 2023 - Present

RICHARD BROTHERS SECURITIES

Office #1: 50 Donald B.dean Drive Suite One, South Portland, ME 04106Office #2: 50 Donald B. Dean Drive Suite One, South Portland, ME 04106

CRD#: 105285

South Portland, ME

Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".

RICHARD BROTHERS, FINANCIAL ADVISORS

ALLEGIANCE CAPITAL, LLC | RICHARD BROTHERS, FINANCIAL ADVISORS | MARLIN ENTERPRISES, LLC | ALLEGIANCE FINANCIAL GROUP, INC.

CRD#: 113826 / SEC#: 801-122718

RIA

Registered Investment Advisory firm - (11/18/2021 Approved)

Maine

Registered Investment Advisory firm - (1/4/2022 Terminated)

New Hampshire

Registered Investment Advisory firm - (1/11/2022 Terminated)

Why is a state registration marked "Terminated"? When a firm registers with the SEC (usually after managing $100M+ AUM), it often withdraws separate state firm registrations unless required by that state. The firm can still serve clients there through its individually registered Investment Advisor Representatives (IARs).

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.

IAR

means the advisor is registered as an Investment Advisor Representative in this state and is authorized to provide investment advice to clients there.

Highlighted states indicate IAR registrations

IAR

Maine
(5/13/2024)

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state.

Exams

State Security Law Exam

IAR

Series 66

Date: 1/17/2024

Uniform Combined State Law Examination

General Industry/Product Exam

Series 7TO

Date: 8/7/2023

General Securities Representative Examination

General Industry/Product Exam

SIE

Date: 1/23/2023

Securities Industry Essentials Examination

SRO Registrations

FINRA

Current Firm

RICHARD BROTHERS, FINANCIAL ADVISORS

ALLEGIANCE CAPITAL, LLC | RICHARD BROTHERS, FINANCIAL ADVISORS | MARLIN ENTERPRISES, LLC | ALLEGIANCE FINANCIAL GROUP, INC.

CRD#: 113826 / SEC#: 801-122718

RIA

Registered Investment Advisory firm - (11/18/2021 Approved)

Maine

Registered Investment Advisory firm - (1/4/2022 Terminated)

New Hampshire

Registered Investment Advisory firm - (1/11/2022 Terminated)

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Contact information

Main Address

50 Donald B. Dean Drive Suite One, South Portland, ME 04106

Mailing Address

Phone number

(207) 879-2352

Established

Firm type

Fiscal year end

# of Employees

SEC notice filing (5 States and Territories)

Documents

Customer Relationship Summary (CRS / SEC)

Latest Form ADV

Part 2 Brochures

ADV PART 2A (3/20/2025)

Regulatory assets under management

Total Number of Accounts	403
AUM (Assets Under Management)	$ 145,936,579

Red Flags

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities.

Check for any disclosures as part of your thorough research when choosing an advisor.

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Smit M. Desai

Professional summary

Question & Answer

Aliases

Other business activities

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view Smit Mayank Desai's CRS (Customer Relationship Summary).

Certified licenses

Experience

RICHARD BROTHERS, FINANCIAL ADVISORS

RICHARD BROTHERS SECURITIES

Primary Firm SEC Registration

RICHARD BROTHERS, FINANCIAL ADVISORS

State Registrations and Notice Filings

Exams

Series 66

Date: 1/17/2024

Series 7TO

Date: 8/7/2023

SIE

Date: 1/23/2023

FINRA

Current Firm

RICHARD BROTHERS, FINANCIAL ADVISORS

Contact information

SEC notice filing (5 States and Territories)

Documents

Part 2 Brochures

Regulatory assets under management

Red Flags

Company Information

RICHARD BROTHERS, FINANCIAL ADVISORS

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