Heritage Asset Advisors Ltd., LLP (Houston)

Name: Heritage Asset Advisors Ltd., LLP
Address: 723 Cherrybark Lane, Houston, TX, 77079
Telephone: 281.966.3370

Heritage Asset Advisors Ltd., LLP is a large advisory firm based in Houston. It manages $176.8 million of regulatory assets for 850 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Louisiana and Texas.

Heritage Asset Advisors Ltd. provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Heritage Asset Advisors Ltd.: assets under management

The assets under management (AUM) of Heritage Asset Advisors Ltd., LLP is $176.8 million. The firm's AUM has grown by 49% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $169.15 million in discretionary accounts and $7.65 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $207.55 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $218.57 thousand.

Heritage Asset Advisors Ltd. has custody of $61.22 million in cash and securities for 149 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 90% 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 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Heritage Asset Advisors Ltd., LLP for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Heritage Asset Advisors Ltd. serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Heritage Asset Advisors Ltd. is individuals with 410 clients and $89.5 million of assets under management. Among the 11 most similar advisory firms, Heritage Asset Advisors Ltd. has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $176.8 million for 461 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.

Heritage Asset Advisors Ltd. doesn't advise any private funds.

Careers at Heritage Asset Advisors Ltd., LLP

The company employs 5 people that are either part- or full-time employees. 80 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Heritage Advisors	General partner	1 Apr 2007	Other	20-8912660
Katie Elizabeth Tennent	Partner	1 May 2007	Other	5339813
Laura Anne Smith	Partner	1 May 2007	Other	5339819
Anne Elizabeth Shinn	Chief compliance officer and partner	1 May 2007	75% - 100%	5339805
Katie Elizabeth Shinn	Partner	1 May 2007	Other	5339813
Laura Anne Shinn	Partner	1 May 2007	Other	5339819
Patrick F Shinn	President and partner	1 Jul 2007	25% - 50%	2442305
Anne Elizabeth Shinn	Vice president and chief compliance officer	1 Sep 2007	25% - 50%	5339805

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Anne Elizabeth Shinn	President	1 Apr 2007	75% - 100%	5339805

Based in Houston

The principal office where Heritage Asset Advisors Ltd., LLP performs its advisory services is located at 723 Cherrybark Lane, Houston, TX 77079, 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 281.966.3370 or by fax 713.827.7750. The normal business hours are 8:00am to 4:30pm on Monday - Friday. You can find more information about the New York firm at heritageassetadvisors.com.