Seneca Financial Advisors LLC (Rochester)

Name: Seneca Financial Advisors LLC
Address: 500 Linden Oaks, Rochester, NY, 14625
Telephone: 585-203-1211

Seneca Financial Advisors LLC is a large advisory firm based in Rochester. It manages $313.67 million of regulatory assets for 618 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, District of Columbia, Florida, and 8 other states.

Seneca Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Seneca Financial Advisors: assets under management

The assets under management (AUM) of Seneca Financial Advisors LLC is $313.67 million. The firm's AUM has grown by 203% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $269.68 million in discretionary accounts and $43.99 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $515.64 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $463.04 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 77% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Seneca Financial Advisors LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Seneca Financial Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Seneca Financial Advisors is high net worth individuals with 77 clients and $281.37 million of assets under management. Among the 8 most similar advisory firms, Seneca Financial Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $306.88 million for 194 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.

Seneca Financial Advisors doesn't advise any private funds.

Careers at Seneca Financial Advisors LLC

The company employs 14 people that are either part- or full-time employees. 36 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives 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 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
Jr. G. Joseph Votava	Member & chief executive officer	1 Aug 2008	50% - 75%	4472957
Scott Michael Lefebre	Member	1 Jan 2010	Other	5487787
Stephen George Green	Member, chief compliance officer & chief investment officer	1 Jan 2010	Other	5296136

Based in Rochester

The principal office where Seneca Financial Advisors LLC performs its advisory services is located at 500 Linden Oaks, Rochester, NY 14625, which is also the mailing address of the firm. An additional office of the firm is in Washington, DC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 585-203-1211 or by fax 585-286-3858. The normal business hours are 8:00am - 4:30pm on Monday - Friday. You can find more information about the New York firm at senecafinancialadvisors.com.