Downtown Investment Advisory

CRD#168812
Investment Advisor Firm

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Overview

Downtown Investment Advisory operates as a financial advisory firm headquartered in White Plains, New York. It has $146.8 million in total assets across 151 customer accounts, placing it in the mid-tier of investment advisory firms in the United States by assets under management (AUM). The firm has a small team of one employee who is a financial advisor. Downtown Investment Advisory does not act as a registered broker-dealer, signifying that it cannot buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer firm to do so. Securities are defined as exchangable financial investments such as bonds, stocks and options.

Downtown Investment Advisory manages all of the company's client assets on a discretionary basis. Discretionary management is a structure in which buy and sell choices for the client's account are made by a portfolio manager without requiring the client's approval. The advisory firm administers an average of $972,263 for every customer account. The typical advisor at Downtown Investment Advisory manages around 151 client accounts.

The firm's central office is at 360 Hamilton Avenue, White Plains, New York 10601. The company is allowed to provide services to clients throughout a few states, including California, New York and Texas.

Assets Under Management

$146.8 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

$146.8 million

National Average: $3.7 billion
Total Number of Employees

1

National Average: 29
Total Number of Accounts

151

National Average: 2,073
Average Account Size

$972.3 thousand

National Average: $1.8 million

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Fee Structure

Fees charged by financial advisors typically depend on which service is offered. However, fee types charged by the company typically consist of the following fee types: asset-based. The company does not supply a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.

Available

  • Offered by 74% 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 35% 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 2% 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 17% 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 1% 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 40% 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 12% 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 works with a number of different customers. The company caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 151 customers, Downtown Investment Advisory's largest client type by number of accounts is retail investors, but it also caters to 29 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 in AUM or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). About 16% of the firm's clients are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 40.85%
  • Other Individuals - 46.48%
  • Corporations - 7.04%
  • Charitable Organizations - 5.63%

* 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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This content was compiled from the SEC and FINRA