Gm Advisory Group, Inc

CRD#147592
Investment Advisor Firm

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Overview

Gm Advisory Group, Inc is a financial advisor company headquartered in Melville, New York. Gm Advisory Group, Inc administers $2.5 billion in total assets throughout 1,938 customer accounts, making it one of the biggest firms in the United States by assets under management (AUM). The firm has an average-sized team, including 9 financial advisors. Gm Advisory Group, Inc does not act as a registered broker-dealer, meaning the company cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer firm to do so. Securities are defined as tradable financial assets such as stocks, bonds and options.

Gm Advisory Group, Inc manages more than half of the company's client assets in a discretionary manner. Discretionary management means that an investment advisor makes transaction choices for the client's account without requiring client authorization. The firm also manages 365 non-discretionary accounts totaling $870.9 million in assets. The company's typical account size is $1.3 million. The average financial advisor at Gm Advisory Group, Inc manages around 215 client accounts.

Gm Advisory Group, Inc's central office is at 400 Broadhollow Road, Melville, New York 11747. The company is registered to serve investors across 15 U.S. states and territories.

Assets Under Management

$2.5 billion

Number of Advisors

9

Disclosures

No

Office Location

400 Broadhollow Road
Melville, NY 11747

Gm Advisory Group, Inc by the Numbers

Total Assets Under Management

$2.5 billion

National Average: $8.6 billion
Total Number of Employees

49

National Average: 64
Total Number of Accounts

1,938

National Average: 375,227
Average Account Size

$1.3 million

National Average: $23.0 thousand
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Products and Services

Gm Advisory Group, Inc provides a variety of services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the past fiscal year, it provided financial planning services to 585 of its clients. The company does sell products or offer services apart from investment advice to its customers. The firm is affiliated with one or more other companies in the financial services industry, including with an insurance company or agency.

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.

  • Find a firm that offers this service

    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 usually are based on which services the firm provides the client. Fee types charged by the company likely consist of the following fee types: asset-based, fixed or other. Wrap fee programs, or the practice of bundling services for a single fee, are provided by Gm Advisory Group, Inc.

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.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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.

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Types of Clients

Gm Advisory Group, Inc works with a broad range of investors. The company caters to retail investors, high net worth investors, pooled investment vehicles, pension plans, charitable organizations and corporations. Out of its 1,938 customers, Gm Advisory Group, Inc's largest client is high net worth investors, although it also caters to 293 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 50.17%
  • Other Individuals - 45.89%
  • Corporations - 2.4%
  • Charitable Organizations - 1.54%

* 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

Gm Advisory Group, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Gm Advisory Group, Inc

Brian Mcauliffe
Melville, NY
Ryan Connor
Melville, NY
Christopher Castellano
Melville, NY
Francis Balas
Melville, NY
Charles Scarallo
Melville, NY
Eric Bernstein
Melville, NY
Frank Lavrigata
Melville, NY
Frank Marzano
Melville, NY
Patrick Wren
Melville, NY

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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