Bny Mellon Securities Corporation

CRD#231
Investment Advisor Firm

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Learn more about Bny Mellon Securities Corporation

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

    • Overview

    Bny Mellon Securities Corporation is located at 240 Greenwich Street, New York, NY. The firm employs 94 financial advisors to manage client portfolios and provide financial guidance. Bny Mellon Securities Corporation is a registered broker-dealer.

    Bny Mellon Securities Corporation oversees $6.1 billion in assets under management across 3,853 accounts, of which 1,585 are discretionary and 2,268 are non-discretionary. The services offered include portfolio management for individuals and small businesses, portfolio management for institutional clients, and other services. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, corporations, and other types of investors, with retail investors being the largest client type by accounts. The fee structure at Bny Mellon Securities Corporation is asset-based. The firm has 162 high net worth clients and maintains affiliations with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, and commodity pool advisor.

    Bny Mellon Securities Corporation is registered in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

    Assets Under Management

    $6.1 billion

    Number of Advisors

    94

    Disclosures

    No

    Office Location

    240 Greenwich Street
    New York, NY 10286-0001

    Bny Mellon Securities Corporation by the Numbers

    Total Assets Under Management

    $6.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    303

    National Average: 64
    Total Number of Accounts

    3,853

    National Average: 375,227
    Average Account Size

    $1.6 million

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial advice usually vary depending on the services offered. Fees billed by Bny Mellon Securities Corporation typically consist of the following fee structure: asset-based.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.

    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 company manages money for a broad range of customers. The company provides services to retail investors, high net worth investors, pension plans, charitable organizations, corporations, and other. Out of its 6 clients, Bny Mellon Securities Corporation's largest client type by number of accounts is other, although it also serves 162 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 4.2%
    • Other Individuals - 80.09%
    • Corporations - 14.92%
    • Charitable Organizations - 0.78%

    * 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

    Bny Mellon Securities Corporation does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Bny Mellon Securities Corporation

    Rishabh Shukla
    Pune,
    Payton Gabriel
    New York, NY
    Steven Mollo
    Franklin, MA
    Christian Mccormick
    New York, NY
    Thomas Cademartori
    Dallas, TX
    Michael Green
    New York, NY
    John Cimino
    New York, NY
    Paige Rafferty
    Darnestown, MD
    Gregory Scozzari
    New York, NY

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