Grand Central Investment Group, LLC

CRD#172537
Investment Advisor Firm

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Learn more about Grand Central Investment Group, LLC

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

    • Overview

    Grand Central Investment Group, LLC operates as a financial advisor company located in Tampa, Florida. The company administers $112.5 million in assets across 383 accounts, placing it in the mid-tier of firms in the nation by assets under management (AUM). The company has a small team, including 2 financial advisors. Grand Central Investment Group, LLC does not act as a registered broker-dealer, signifying that the advisor is not able to buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer company to do so. Securities are exchangable fiscal assets like equities, bonds and options.

    Grand Central Investment Group, LLC administers more than half of the company's accounts on a discretionary basis. Discretionary management means that transaction choices are made by an investment advisor without needing the client's permission. The firm also administers 97 non-discretionary accounts totaling $23.5 million in assets under management. The investment advisory firm administers about $293,686 for every client account. An average financial advisor at Grand Central Investment Group, LLC administers about 192 client accounts.

    The firm's main office is located at 324 S. Hyde Park Ave., Tampa, Florida 33606. The company is legally allowed to provide services to investors throughout a few states, including California, Florida, Georgia, New Hampshire, North Carolina, Oregon and Texas.

    Assets Under Management

    $112.5 million

    Number of Advisors

    2

    Disclosures

    No

    Office Location

    324 S. Hyde Park Ave.
    Tampa, FL 33606

    Grand Central Investment Group, LLC by the Numbers

    Total Assets Under Management

    $112.5 million

    National Average: $8.6 billion
    Total Number of Employees

    3

    National Average: 64
    Total Number of Accounts

    383

    National Average: 375,227
    Average Account Size

    $293.7 thousand

    National Average: $23.0 thousand
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    Products and Services

    Grand Central Investment Group, LLC provides a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services and other services. However, it did not provide financial planning services to any of its customers in the previous financial year. The company is not involved in selling products or offering services apart from investment advisory services to its investment advisory clients.

    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

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    Fee Structure

    Financial advisory fees usually are based on which services the firm provides the client. However, fee types billed by the company can include some combination of the following fee structures: asset-based, hourly or fixed. The company does participate 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.

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    Types of Clients

    The firm works with a number of different investors. The company caters to retail investors, high net worth investors, pension plans, charitable organizations, corporations and other. Out of its 383 accounts, Grand Central Investment Group, LLC's largest client type by number of accounts is retail investors, though it also serves 47 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management 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). None of its accounts are non-U.S. persons.

    • High-Net-Worth Individuals* - 17.41%
    • Other Individuals - 77.78%
    • Corporations - 4.44%
    • Charitable Organizations - 0.37%

    * 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

    Grand Central Investment Group, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Grand Central Investment Group, LLC

    Charles Poe
    Tampa, FL
    Frank Cooper
    Montreat, NC
    Michelle Halpin
    Tampa, FL

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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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