Stelac Advisory Services LLC (New York)


Stelac Advisory Services LLC is a large advisory firm based in New York. It manages $1.69 billion of regulatory assets for 343 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Florida and New York.

Stelac Advisory Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and publication of newsletters. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Stelac Advisory Services: assets under management

The assets under management (AUM) of Stelac Advisory Services LLC is $1.69 billion. The firm's AUM has grown by 157% since the beginning of its operation, and $1.63 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $1.33 billion in discretionary accounts and $365.2 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.7 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.32 million.
Stelac Advisory Services has custody of $12.04 million in cash and securities for 34 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is investment and business development companies, which make up 31% of the firm’s portfolio. Investments in non-exchange traded securities form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Stelac Advisory Services LLC 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 Stelac Advisory Services serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Stelac Advisory Services is high net worth individuals with 73 clients and $1.59 billion of assets under management. Among the 10 most similar advisory firms, Stelac Advisory Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.6 billion for 75 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 96% of the firm’s clients are foreign persons or businesses.

Stelac Advisory Services also advises several private funds. Namely, one hedge fund and one private equity fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Stelac Advisory Services LLC

The company employs 28 people that are either part- or full-time employees. 39 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 are 4 people 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Llc Integer Owner 1 Jun 2007 75% - 100% 20-8514201
Charles De Viel Castel Manager 1 Jun 2007 Other 4431131
Charles De Salviac De Viel Castel Manager 1 Jun 2007 Other 4431131
Proximus Advisors Llc Partner 1 Sep 2007 Other xxx-xx-xxxx
Palmas Llc Partner 1 Sep 2007 Other 26-3295235
Carlos Manuel Lopez Ona Cfo/chief compliance officer 1 Nov 2007 Other 5476924
Carlos Eduardo Padula Ceo and owner 1 Nov 2007 Other 5476923
Carlos Lopez Ona Cfo 1 Nov 2007 Other 5476924
Carlos E. Padula Managing director 1 Nov 2007 Other 5476923
Thomas John Grimm Chief compliance officer 1 Jan 2008 Other 4373622
Eric Javier Castillo Coo 1 May 2010 Other 2922044

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
Charles De Salviac De Viel Castel Manager 1 Feb 2007 50% - 75% 4431131
Llc Cvc Holdings Owner 1 Feb 2007 50% - 75% 20-8514028
Charles De Viel Castel Manager 1 Feb 2007 Other 4431131
Tipugno Irrevocable Trust Owner 1 Jan 2010 25% - 50% 26-6891183
Cpsas Holdings Llc Owner 1 Oct 2018 25% - 50% 83-2038739

Based in New York

The principal office where Stelac Advisory Services LLC performs its advisory services is located at 654 Madison Avenue, New York, NY 10065, which is also the mailing address of the firm. An additional office of the firm is in Miami, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-920-3890 or by fax 212-920-3888. The normal business hours are 9:00 am - 6:00 pm on Monday - Friday. You can find more information about the New York firm at stelac.com and its LinkedIn profile.