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Santander Securities

Updated today

Total assets under management

$3,140,983,898

Total clients

10,832

0% high-net worth

Total advisors

156

of 449 employees

Firm size

Enterprise

51-2,000 advisors or $10B+ in AUM

Average clients per advisor

69

Average account size

$289,973

About

Santander Securities LLC provides wrap-fee advisory programs and related services to a broad client base that includes individual (primarily non-high-net-worth) and corporate clients; the firm operates as an enterprise with a multi-advisor platform offering Fund Strategist portfolios, Separately Managed Accounts and Unified Managed Accounts through the Fidelity FMAX platform, and also provides no‑charge financial planning and access to securities‑based lending. Its client-facing support includes a centralized Santander Investments Direct (SID) team to assist clients and reassign accounts when advisors depart.

The firm acts as a fiduciary for advisory services and delivers discretionary management by third‑party Investment Managers selected via FIWA’s multi‑pillar due diligence, with Envestnet used for model implementation and overlay services; portfolios may include ESG options and tax/value overlays and are periodically rebalanced, and uninvested cash in accounts is handled through an automatic Bank Deposit Sweep Program (BDSP). The brochure discloses that BDSP deposits are held on an omnibus basis at the affiliate Santander Bank, N.A., creating custody implications and that the firm and affiliates receive compensation from the BDSP, which can create incentives affecting sweep selection and cash balances.

Noteworthy distinctions relative to many peers include SSLLC’s dual registration and activity as both an SEC‑registered investment adviser and a FINRA‑registered broker‑dealer (the brochure describes longstanding broker‑dealer activity and the firm’s role as introducing broker with clearing through NFS), the absence of a standard fixed‑fee alternative in favor of asset‑based program fees, and explicit disclosures of prior regulatory actions, fines, and restitution events; the brochure also describes various discount programs tied to Santander bank relationships and employee pricing that may affect client pricing and conflicts of interest.

Client services

Financial planning Portfolio management Selection of other advisers
Sponsor to 3rd-party wrap fee program(s) offered by custodian's (nfs) advisory platform

Expertise

ESG / Sustainable investing

Fee options

Percentage

$0 - $49,999.99: 1.30% (FSP Standard Rate) $50,000 - $249,999.99: 1.30% (FSP Standard Rate) $250,000 - $499,999.99: 1.25% (FSP Standard Rate) $500,000 - $999,999.99: 1.20% (FSP Standard Rate) $1,000,000 - $1,999,999.99: 1.15% (FSP Standard Rate) $2,000,000 - $2,999,999.99: 1.10% (FSP Standard Rate) $3,000,000 - $4,999,999.99: 1.08% (FSP Standard Rate) $5,000,000 - $9,999,999.99: 1.03% (FSP Standard Rate) $10,000,000+: 0.94% (FSP Standard Rate) $0 - $49,999.99: 1.00% (SMA Fixed Income Pricing) $50,000 - $249,999.99: 1.00% (SMA Fixed Income Pricing) $250,000 - $499,999.99: 0.95% (SMA Fixed Income Pricing) $500,000 - $999,999.99: 0.90% (SMA Fixed Income Pricing) $1,000,000 - $1,999,999.99: 0.80% (SMA Fixed Income Pricing) $2,000,000 - $2,999,999.99: 0.75% (SMA Fixed Income Pricing) $3,000,000 - $4,999,999.99: 0.75% (SMA Fixed Income Pricing) $5,000,000 - $9,999,999.99: 0.70% (SMA Fixed Income Pricing) $10,000,000+: 0.70% (SMA Fixed Income Pricing) $0 - $49,999.99: 1.40% (SMA Other Pricing) $50,000 - $249,999.99: 1.40% (SMA Other Pricing) $250,000 - $499,999.99: 1.30% (SMA Other Pricing) $500,000 - $999,999.99: 1.20% (SMA Other Pricing) $1,000,000 - $1,999,999.99: 1.10% (SMA Other Pricing) $2,000,000 - $2,999,999.99: 1.05% (SMA Other Pricing) $3,000,000 - $4,999,999.99: 1.00% (SMA Other Pricing) $5,000,000 - $9,999,999.99: 0.95% (SMA Other Pricing) $10,000,000+: 0.90% (SMA Other Pricing) $0 - $49,999.99: 1.35% (UMA Pricing) $50,000 - $249,999.99: 1.35% (UMA Pricing) $250,000 - $499,999.99: 1.30% (UMA Pricing) $500,000 - $999,999.99: 1.15% (UMA Pricing) $1,000,000 - $1,999,999.99: 1.05% (UMA Pricing) $2,000,000 - $2,999,999.99: 0.95% (UMA Pricing) $3,000,000 - $4,999,999.99: 0.85% (UMA Pricing) $5,000,000 - $9,999,999.99: 0.80% (UMA Pricing) $10,000,000+: 0.75% (UMA Pricing)

Other

Account minimum: $25,000 Fee-only: Program Fee ranges from 0.68% to 1.40% annually based on account size and program type; Manager fees range from 0.15% to 1.00%; some FSP programs charge a 0.02% Gateway Fee instead of Manager Fee.

Main office location

Santander Securities

75 State Street, Mail Code: Ma Sst Inv3

Boston MA 02109, United States

Number of offices

418

Most active in

Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virgin Islands · Virginia · Washington · West Virginia · Wisconsin · Wyoming

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

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