Downtown Investment Advisory

CRD#168812
Investment Advisor Firm

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Learn more about Downtown Investment Advisory

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

    • Overview

    Downtown Investment Advisory is a financial advisory firm located in White Plains, New York. It oversees $126.4 million in assets under management throughout 139 accounts, placing it in the mid-tier of investment advisory firms in the country by assets under management (AUM). The company has a small team, including 1 financial advisor. Downtown Investment Advisory does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer firm to do so. Securities are exchangable financial assets such as bonds, options and equities.

    Downtown Investment Advisory administers all of the company's accounts on a discretionary basis. Discretionary management is a structure in which transaction choices are made by an investment advisor without requiring the client's permission. The advisory firm's typical account size is $909,604. An average financial advisor at Downtown Investment Advisory oversees around 139 client accounts.

    The firm's headquarters is located at 360 Hamilton Avenue, White Plains, New York 10601. Downtown Investment Advisory is allowed to provide services to customers throughout 2 states, including New York and Texas.

    Assets Under Management

    $126.4 million

    Number of Advisors

    1

    Disclosures

    No

    Office Location

    360 Hamilton Avenue
    White Plains, NY 10601

    Downtown Investment Advisory by the Numbers

    Total Assets Under Management

    $126.4 million

    National Average: $9.0 billion
    Total Number of Employees

    1

    National Average: 71,771
    Total Number of Accounts

    139

    National Average: 4,329
    Average Account Size

    $909.6 thousand

    National Average: $2.1 million

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    Fee Structure

    Financial management fees typically are based on which services the firm provides the client. Fees billed by the firm typically consist of the following fee structures: asset-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company.

    Available

    • Offered by 70% 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 33% 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

    Downtown Investment Advisory caters to retail investors, high net worth investors and charitable organizations. Out of its 139 clients, Downtown Investment Advisory's biggest client by number of accounts is high net worth investors, although it also manages money for 28 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Around 20% of its customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 48.28%
    • Other Individuals - 46.55%
    • Corporations - 0%
    • Charitable Organizations - 5.17%

    * 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

    Downtown Investment Advisory does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Downtown Investment Advisory

    Salo Aizenberg
    West Harrison, NY

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    The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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