Deroy & Devereaux Private Investment Counsel, Inc

CRD#121560
Investment Advisor Firm

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Learn more about Deroy & Devereaux Private Investment Counsel, Inc

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

    • Overview

    Deroy & Devereaux Private Investment Counsel, Inc is a financial advisory firm headquartered in Southfield, Michigan. It handles $1.8 billion in assets under management throughout 572 client accounts, placing it among the largest financial advisory firms in the nation by assets under management (AUM). It has a small group, including 6 financial advisors. Deroy & Devereaux Private Investment Counsel, Inc is not a registered broker-dealer, signifying that it cannot buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer company to do so. Securities are exchangable fiscal investments like bonds, options and stocks.

    Deroy & Devereaux Private Investment Counsel, Inc manages all of the company's client assets on a discretionary basis. Discretionary management is a structure in which transaction choices are made by a portfolio manager without requiring the customer's approval. The firm oversees about $3.1 million for each client account. An average advisor at Deroy & Devereaux Private Investment Counsel, Inc manages around 95 client accounts.

    The company's central office is located at 2000 Town Center, Southfield, Michigan 48075. The company is legally registered to serve investors throughout 15 U.S. states and territories.

    Assets Under Management

    $1.8 billion

    Number of Advisors

    6

    Disclosures

    No

    Office Location

    2000 Town Center
    Southfield, MI 48075

    Deroy & Devereaux Private Investment Counsel, Inc by the Numbers

    Total Assets Under Management

    $1.8 billion

    National Average: $8.6 billion
    Total Number of Employees

    17

    National Average: 64
    Total Number of Accounts

    572

    National Average: 375,227
    Average Account Size

    $3.1 million

    National Average: $23.0 thousand
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    Fee Structure

    Financial management fees usually depend on the services offered. Fee types charged by the company likely are comprised of any blend of the following fee structures: asset-based or fixed. The company does participate in a wrap fee program, in which the company offers a service bundle for a single 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.

    • Offered by 32% of firms

      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.

    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 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.

    Back to Overview

    Types of Clients

    Deroy & Devereaux Private Investment Counsel, Inc caters to high net worth investors, pension plans, charitable organizations and state or municipal government entities. Out of its 572 clients, Deroy & Devereaux Private Investment Counsel, Inc's biggest client by number of accounts is high net worth investors, but it also manages money for 114 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 2% of the company's clients are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 77.55%
    • Other Individuals - 0%
    • Corporations - 12.93%
    • Charitable Organizations - 9.52%

    * 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

    Deroy & Devereaux Private Investment Counsel, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Deroy & Devereaux Private Investment Counsel, Inc

    Sarah Schattner
    Southfield, MI
    Taimur Hassan
    Southfield, MI
    Sean Metrose
    Southfield, MI
    Steven Lewis
    Southfield, MI
    Jeffrey Wardlow
    Southfield, MI
    Michael Harris
    Southfield, MI
    Michael Madison
    Southfield, MI
    Karl Knas
    Southfield, MI
    Laree Perez
    Southfield, MI

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