Managed Account Services Inc (Coconut Grove)

Name: Managed Account Services Inc
Address: 2665 S. Bayshore Dr., Coconut Grove, FL, 33133
Telephone: 305-443-3339

Managed Account Services Inc is a large advisory firm based in Coconut Grove. It manages $816.91 million of regulatory assets for 1,274 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Florida, and 13 other states.

Managed Account Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Managed Account Services: assets under management

The assets under management (AUM) of Managed Account Services Inc is $816.91 million. The firm's AUM has grown by 833% since the beginning of its operation, and $78.34 million of the total AUM is attributable to clients outside of the United States.

The firm manages $599.27 million in discretionary accounts and $217.64 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $477.12 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $12.09 million.

Managed Account Services has custody of $177.42 million in cash and securities for 125 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 71% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 28% of the firm’s portfolio. Investments in exchange traded securities form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Managed Account Services Inc for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Managed Account Services serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and sovereign wealth funds and foreign official institutions. The largest group of clients of Managed Account Services is high net worth individuals with 152 clients and $381.45 million of assets under management. Among the 9 most similar advisory firms, Managed Account Services has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $816.91 million for 491 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 4% of the firm’s clients are foreign persons or businesses.

Managed Account Services doesn't advise any private funds.

Careers at Managed Account Services Inc

The company employs 11 people that are either part- or full-time employees. 64 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frank Armstrong Living Trust	Shareholder	1 Jan 1993	50% - 75%	xxx-xx-xxxx
Steven Troy Merkel	Chief compliance officer	1 Sep 2000	Other	2477573
Karla P Arguello	Chief compliance officer	1 May 2005	Other	4962988
Frank Armstrong Living Trust	Trust	1 Jan 2006	75% - 100%	00-0000000
Robert Joseph Gordon	Trustee of robert gordon revocable trust	1 Jun 2006	Other	4346012
David Seiglie	Chief compliance officer	1 Nov 2007	Other	2762255
Brett C. Fingerhut	Trustee of brett fingerhut revocable trust	1 Jun 2013	Other	5129055
Richard James Feldman	Managing partner	1 Sep 2014	Other	2912080
Robert J. Gordon Revocable Trust	Shareholder	1 May 2017	Other	xxx-xx-xxxx
Brett Fingerhut Revocable Trust	Shareholder	1 May 2017	Other	xxx-xx-xxxx

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Francis Charles Armstrong	Trustee	1 Jan 1993	75% - 100%	7298

Based in Coconut Grove

The principal office where Managed Account Services Inc performs its advisory services is located at 2665 S. Bayshore Dr., Coconut Grove, FL 33133, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 305-443-3339 or by fax 305-443-3064. The normal business hours are 9:00 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at investorsolutions.com.