Pursino Advisory Group LLC (Garden City)

Name: Pursino Advisory Group LLC
Address: 1325 Franklin Avenue, Garden City, NY, 11530
Telephone: 516-240-8088

Pursino Advisory Group LLC is a mid-sized advisory firm based in Garden City. It manages $28.07 million of regulatory assets for 150 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdiction of New York.

Pursino Advisory Group provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Pursino Advisory Group: assets under management

The assets under management (AUM) of Pursino Advisory Group LLC is $28.07 million. The firm's AUM has gone down by -9% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $27.73 million in discretionary accounts and $342.65 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $198.06 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $34.26 thousand.

Pursino Advisory Group has custody of $13.5 million in cash and securities for 25 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 34% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Pursino Advisory Group LLC 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 Pursino Advisory Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Pursino Advisory Group is high net worth individuals with 15 clients and $19.76 million of assets under management. Among the 4 most similar advisory firms, Pursino Advisory Group has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $28.01 million for 46 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.

Pursino Advisory Group doesn't advise any private funds.

Careers at Pursino Advisory Group LLC

The company employs 2 people that are either part- or full-time employees. 50 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 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
Philip Pursino	Managing principal/cco	1 Dec 2012	75% - 100%	3212554
Philip Pursino	Chief compliance officer	1 Jan 2013	75% - 100%	3212554

Based in Garden City

The principal office where Pursino Advisory Group LLC performs its advisory services is located at 1325 Franklin Avenue, Garden City, NY 11530, 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 516-240-8088 or by fax 516-240-8087. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at pursino.com.