Passaic Partners LLC

CRD#313290
Investment Advisor Firm

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Learn more about Passaic Partners LLC

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

    • Overview

    Passaic Partners LLC is a financial advisory firm headquartered in Newark, New Jersey. The firm controls $1.2 billion in assets across 13 accounts, placing it among the bigger firms in the nation by assets under management (AUM). The company has a small group, including 3 financial advisors. Passaic Partners LLC does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable financial assets such as bonds, options and stocks.

    Passaic Partners LLC administers all of the company's client assets on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell decisions for the client's account without needing client consent. The advisory firm's average account size is $94.2 million. The typical advisor at Passaic Partners LLC oversees around four client accounts, making it one of the most personalized firms in the country.

    The company's central office is located at 110 Edison Place, Newark, New Jersey 7102. It is allowed to serve clients in the state of New Jersey.

    Assets Under Management

    $1.2 billion

    Number of Advisors

    3

    Disclosures

    No

    Office Location

    110 Edison Place
    Newark, NJ 07102

    Passaic Partners LLC by the Numbers

    Total Assets Under Management

    $1.2 billion

    National Average: $8.6 billion
    Total Number of Employees

    8

    National Average: 64
    Total Number of Accounts

    13

    National Average: 375,227
    Average Account Size

    $94.2 million

    National Average: $23.0 thousand
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    Fee Structure

    Fees charged by financial advisors largely depend on which service is provided. Fees billed by the firm typically consist of the following fee type: asset-based. The firm does not provide 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.

    Back to Overview

    Types of Clients

    The firm provides services to investment companies, pooled investment vehicles and pension plans. Out of its 13 accounts, Passaic Partners LLC's largest client is pension plans. None of its accounts reside abroad.

    • High-Net-Worth Individuals* - 0%
    • Other Individuals - 0%
    • Corporations - 100%
    • Charitable Organizations - 0%

    * 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

    Passaic Partners LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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