Cuso Financial Services, L.P. (San Diego)

Cuso Financial Services, L.P. is a large advisory firm based in San Diego. It manages $1.93 billion of regulatory assets for 11,423 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Cuso Financial Services provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cuso Financial Services: assets under management

The assets under management (AUM) of Cuso Financial Services, L.P. is $1.93 billion. The firm's AUM has grown by 6823% since the beginning of its operation, and $1 of the total AUM is attributable to clients outside of the United States.

The firm manages $422.81 million in discretionary accounts and $1.51 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $309.75 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $150.35 thousand.

Cuso Financial Services has custody of $1.07 billion in cash and securities for 4,222 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 89% of the total AUM. The second-largest asset type is exchange traded securities, which make up 7% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cuso Financial Services, L.P. 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 Cuso Financial Services serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Cuso Financial Services is individuals with 10,489 clients and $1.66 billion of assets under management. Among the 9 most similar advisory firms, Cuso Financial Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.93 billion for 10,667 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Cuso Financial Services doesn't advise any private funds.

Careers at Cuso Financial Services, L.P.

The company employs 703 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 552 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 17 indirect owners.

Based in San Diego

The principal office where Cuso Financial Services, L.P. performs its advisory services is located at 10150 Meanley Drive, 1 St Floor, San Diego, CA 92131, which is also the mailing address of the firm. An additional office of the firm is in Syracuse, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 858-530-4400 or by fax 858-530-4404. The normal business hours are 8am-4:30pm on Monday - Friday. You can find more information about the New York firm at cusonet.com.

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