Beacon Wealth Management LLC is a large advisory firm based in Hackensack. It manages $284.98 million of regulatory assets for 960 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Connecticut, Florida, and 4 other states.
Beacon Wealth Management 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 financial and business consulting. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Beacon Wealth Management LLC is $284.98 million. The firm's AUM has grown by 670% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Beacon Wealth Management LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Beacon Wealth Management is high net worth individuals with 118 clients and $225.63 million of assets under management. Among the 10 most similar advisory firms, Beacon Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $284.98 million for 232 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.
Beacon Wealth Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.
The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 6 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
The principal office where Beacon Wealth Management LLC performs its advisory services is located at 505 Main Street, Hackensack, NJ 07601, 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 201-447-9500 or by fax 201-447-6226. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at beaconwealthmanagement.com/.