Mirsky Financial Management Corp. (Rochester)

Name: Mirsky Financial Management Corp.
Address: 130 C Linden Oaks, Rochester, NY, 14625
Telephone: (585) 264-1658

Mirsky Financial Management Corp. is a large advisory firm based in Rochester. It manages $233.16 million of regulatory assets for 638 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Florida, New York, and Texas.

Mirsky Financial Management Corp provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mirsky Financial Management Corp: assets under management

The assets under management (AUM) of Mirsky Financial Management Corp. is $233.16 million. The firm's AUM has grown by 161% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $178.99 million in discretionary accounts and $54.17 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $286.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.87 million.

Investments

The firm invests in investment and business development companies the most. They account for 90% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 6% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mirsky Financial Management Corp. for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David Bruce Mirsky serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of David Bruce Mirsky is high net worth individuals with 75 clients and $126.39 million of assets under management. Among the 10 most similar advisory firms, Mirsky Financial Management Corp has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $233.16 million for 278 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Mirsky Financial Management Corp doesn't advise any private funds.

Careers at Mirsky Financial Management Corp.

The company employs 11 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

David Bruce Mirsky has been acting as President since 1 Dec 2012. Bernard Lawrence Salamone joined the executive team most recently as the Executive Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Bruce Mirsky	President/chief compliance officer	1 Dec 2012	50% - 75%	2122683
Bernard Lawrence Salamone	Executive vice president	1 Jan 2013	25% - 50%	4289964

Based in Rochester

The principal office where Mirsky Financial Management Corp. performs its advisory services is located at 130 C Linden Oaks, Rochester, NY 14625, 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 (585) 264-1658 or by fax (585) 264-9502. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at mirskyfinancial.com.