Long Island Wealth Management, Inc. (Port Washington)

Name: Long Island Wealth Management, Inc.
Address: 14 Vanderventer Avenue, Port Washington, NY, 11050
Telephone: 516-238-7629

Long Island Wealth Management, Inc. is a large advisory firm based in Port Washington. It manages $110.8 million of regulatory assets for 606 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdiction of New York.

Long Island Wealth Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Long Island Wealth Management: assets under management

The assets under management (AUM) of Long Island Wealth Management, Inc. is $110.8 million. The firm's AUM has grown by 85% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $102.09 million in discretionary accounts and $8.72 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $172.45 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $622.51 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment and business development companies, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Long Island Wealth Management, 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 Long Island Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Long Island Wealth Management is high net worth individuals with 92 clients and $90.86 million of assets under management. Among the 10 most similar advisory firms, Long Island Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $110.8 million for 157 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.

Long Island Wealth Management doesn't advise any private funds.

Careers at Long Island Wealth Management, Inc.

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. No 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.

Long Island Wealth Management, Inc. is owned by Jeffrey Joseph Myers. Jeffrey R. Burke joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jeffrey Joseph Myers	Owner/chief compliance officer	1 Dec 2005	75% - 100%	3154149
Jeffrey Joseph Myers	Owner	1 Sep 2014	75% - 100%	xxx-xx-xxxx
Jeffrey R. Burke	Chief compliance officer	1 Sep 2014	Other	xxx-xx-xxxx

Based in Port Washington

The principal office where Long Island Wealth Management, Inc. performs its advisory services is located at 14 Vanderventer Avenue, Port Washington, NY 11050, 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 516-238-7629 or by fax 516-706-0906. The normal business hours are by appointment only on Other. You can find more information about the New York firm at liwealth.com.