Sky Investment Group LLC

CRD#134001
Investment Advisor Firm

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Learn more about Sky Investment Group LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Sky Investment Group LLC operates as an advisory firm headquartered in Hartford, Connecticut. The firm administers $682.6 million in total assets across 857 client accounts, making it one of the bigger investment advisory firms in the country by assets under management (AUM). Sky Investment Group LLC has a small team, including 8 financial advisors. Sky Investment Group LLC does not act as a registered broker-dealer, meaning it is not able to buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are defined as tradable fiscal assets like bonds, equities and options.

    Sky Investment Group LLC administers all of the firm's accounts on a discretionary basis. Discretionary management means that transaction choices for the client's account are made by a portfolio manager without needing to seek client consent. The company's average account size is $796,555. An average financial advisor at Sky Investment Group LLC manages about 107 client accounts.

    Sky Investment Group LLC's central office is at One Financial Plaza, Hartford, Connecticut 6103. The company is legally registered to provide services to clients throughout 11 U.S. states and territories.

    Assets Under Management

    $682.6 million

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    One Financial Plaza
    Hartford, CT 06103

    Sky Investment Group LLC by the Numbers

    Total Assets Under Management

    $682.6 million

    National Average: $8.6 billion
    Total Number of Employees

    9

    National Average: 64
    Total Number of Accounts

    857

    National Average: 375,227
    Average Account Size

    $796.6 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Financial management fees usually depend on which services the firm provides the client. However, fees charged by the firm typically consist of the following fee structure: asset-based. Sky Investment Group LLC does not participate in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 32% of firms that offer this fee type

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The firm works with high net worth investors, pension plans and charitable organizations. Out of its 857 customers, Sky Investment Group LLC's largest client is high net worth investors, although it also manages money for 357 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 97.28%
    • Other Individuals - 0%
    • Corporations - 0.54%
    • Charitable Organizations - 2.18%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Sky Investment Group LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Sky Investment Group LLC

    Catherine Mullen
    Hartford, CT
    John Waterman
    Hartford, CT
    Richard Pye
    Hartford, CT
    John Wright
    Hartford, CT
    Margaret Hubbard
    Hartford, CT
    Robert Bingham
    Hartford, CT
    William Newman
    Hartford, CT
    Jared Soper
    Hartford, CT

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