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 located at 2000 Town Center, Southfield, MI. The firm employs 6 financial advisors to manage client portfolios and provide financial guidance. Deroy & Devereaux Private Investment Counsel, Inc is not a registered broker-dealer.

    Deroy & Devereaux Private Investment Counsel, Inc oversees $2.0 billion in assets under management across 576 accounts, all of which are discretionary. The services offered include portfolio management for individuals and small businesses, as well as portfolio management for institutional clients. The firm caters to high net worth investors, pension plans, charitable organizations, and state or municipal government entities, with high net worth investors being the largest client type by accounts. The fee structure at Deroy & Devereaux Private Investment Counsel, Inc includes asset-based and fixed fees. The firm has 114 high net worth clients.

    Deroy & Devereaux Private Investment Counsel, Inc is registered in the states of Arizona, California, Florida, Georgia, Illinois, Indiana, Michigan, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, and Virginia.

    Assets Under Management

    $2.0 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

    $2.0 billion

    National Average: $8.6 billion
    Total Number of Employees

    18

    National Average: 64
    Total Number of Accounts

    576

    National Average: 375,227
    Average Account Size

    $3.4 million

    National Average: $23.0 thousand
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    Fee Structure

    Financial management fees typically vary depending on which services the firm provides the client. Fees charged by Deroy & Devereaux Private Investment Counsel, Inc can consist of some combination of the following fee types: asset-based or fixed. The firm does participate in a wrap fee program, in which the firm offers a bundle of services 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.

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    Types of Clients

    The firm provides services to high net worth investors, pension plans, charitable organizations, and state or municipal government entities. Out of its 4 clients, Deroy & Devereaux Private Investment Counsel, Inc's largest client type by number of accounts is high net worth investors, though it also serves 114 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 under management or a net worth of more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 76%
    • Other Individuals - 0%
    • Corporations - 14.67%
    • Charitable Organizations - 9.33%

    * 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
    Laree Perez
    Southfield, MI
    Karl Knas
    Southfield, MI
    Michael Madison
    Southfield, MI

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