Novem Group

CRD#158964
Investment Advisor Firm

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Learn more about Novem Group

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

    • Overview

    Novem Group is located at 350 Linden Oaks, Rochester, NY. The firm employs 50 financial advisors to manage client portfolios and provide financial guidance. Novem Group is not a registered broker-dealer.

    Novem Group oversees $1.2 billion in assets under management across 4,381 accounts, of which 4,243 are discretionary and 138 are non-discretionary. Over the past year, the firm has provided financial planning services to 1,000 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, and state or municipal government entities, with retail investors being the largest client type by accounts. The fee structure at Novem Group includes asset-based, hourly, and fixed fees. The firm has 147 high net worth clients.

    Novem Group is registered in the states of Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, Michigan, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, and Washington.

    Assets Under Management

    $1.2 billion

    Number of Advisors

    50

    Disclosures

    No

    Office Location

    350 Linden Oaks
    Rochester, NY 14625

    Novem Group by the Numbers

    Total Assets Under Management

    $1.2 billion

    National Average: $8.6 billion
    Total Number of Employees

    50

    National Average: 64
    Total Number of Accounts

    4,381

    National Average: 375,227
    Average Account Size

    $267.2 thousand

    National Average: $23.0 thousand
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    Products and Services

    Novem Group offers a variety of services, including financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars. In the last financial year, Novem Group provided 1000 of its accounts with financial planning services. The Company is not involved in selling products or offering services aside from investment advice to its investment advisory accounts.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Offered by 3% of firms

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees charged by financial advisors typically depend on the type of financial services offered. Fees billed by Novem Group most likely include any combination of the following fee structures: asset-based, hourly, or fixed. The firm participates in a wrap fee program, in which the company 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 21% of firms

      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.

    • 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 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

    The company manages money for a broad range of clients. The company caters to retail investors, high net worth investors, pension plans, charitable organizations, and state or municipal government entities. Out of its 5 clients, Novem Group's largest client group by number of accounts is retail investors, though it also caters to 147 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of more than $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 4.85%
    • Other Individuals - 90.87%
    • Corporations - 4.22%
    • Charitable Organizations - 0.07%

    * 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

    Novem Group does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Novem Group

    Gregory Wagner
    Rochester, NY
    Jordan Reinertson
    Grand Island, NE
    Gavin Ugone
    Topsfield, MA
    Daniel Williams
    Rochester, NY
    Jeremy Raco
    Rochester, NY
    Colin Murray
    Rochester, NY
    Patrick Manuel
    Rochester, NY
    Mackenzi Springer
    Rochester, NY
    Timothy Gerlach
    Rochester, NY

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