Wellington Shields & Co., LLC (New York)

Name: Wellington Shields & Co., LLC
Address: 140 Broadway, New York, NY, 10005
Telephone: 212-320-3000

Wellington Shields & Co., LLC is a large advisory firm based in New York. It manages $258.37 million of regulatory assets for 213 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Arizona, Connecticut, Delaware, and 11 other states.

Wellington Shields & Co. provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Wellington Shields & Co.: assets under management

The assets under management (AUM) of Wellington Shields & Co., LLC is $258.37 million. The firm's AUM has grown by 91% since the beginning of its operation, and $14.6 million of the total AUM is attributable to clients outside of the United States.

The firm manages $232.23 million in discretionary accounts and $26.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.13 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.27 million.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 19% of the firm’s portfolio. Investments in investment and business development companies form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wellington Shields & Co., LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joseph Vincent Jr Shields serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Joseph Vincent Jr Shields is high net worth individuals with 67 clients and $204.93 million of assets under management. Among the 10 most similar advisory firms, Wellington Shields & Co. has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $251.9 million for 210 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Wellington Shields & Co. doesn't advise any private funds.

Careers at Wellington Shields & Co., LLC

The company employs 21 people that are either part- or full-time employees. 52 percent of the employees work as investment advisers or researchers. 10 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.

Joseph Vincent Jr Shields has been acting as President since 1 Oct 2008. Deceased Estate Of Joseph Vincent Shields Jr. joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Laurence Arthur Shadek	Managing member/secy/co-srop/co-crop	1 Oct 2008	Other	419483
David Vincent Shields	Vice chairman/managing member	1 Oct 2008	Other	1072810
Joseph Vincent Jr Shields	Chairman/ managing member	1 Oct 2008	Other	700539
Mark Porter Sperry	Member	1 Oct 2008	Other	1330909
Charles H Wellington	Vice chairman/managing member	1 Oct 2008	Other	2625149
Kevin Patrick Vancleve	Msrb principal	1 Oct 2008	Other	1022686
Llc Wellington Shields Holdings	Owner	1 Nov 2008	75% - 100%	26-3489230
Joseph Nicholas Cembrola	Member operations	1 Nov 2008	Other	2310761
Philip Michael Curcuru	Cfo/coo	1 Nov 2008	Other	4170350
Thomas Waters Grant	Managing member	1 Nov 2008	Other	227594
Paul Immo Jr Gulden	Managing member	1 Nov 2008	Other	231863
Marguerite Kramer Kircher	Co-srop/co-crop	1 Nov 2008	Other	1476282
Ralph Joseph Scarpa	Co-ceo/managing member	1 Nov 2008	Other	718855
James Mcclenahan Shadek	Member-sales	1 Nov 2008	Other	702481
Christopher Francis Meyer	Chief compliance officer	1 Nov 2008	Other	1075415
Edward Kenneth March	Senior vice president, head of trading, msrb principal	1 Jul 2011	Other	2100535
Stephen John Portas	Chief compliance officer	1 Mar 2013	Other	2482930
William Jameson Mcfadden	President	1 Jan 2017	Other	5337971

Indirect Owners

The SEC currently registers 10 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
David Vincent Shields	President/managing director	1 Jun 1982	25% - 50%	1072810
Joseph Vincent Jr Shields	Chairman/managing director	1 Jun 1982	50% - 75%	700539
Paul Immo Jr Gulden	Evp/dir	1 May 1984	25% - 50%	231863
Peter Jay Lagemann	Evp/dir	1 Mar 1986	25% - 50%	300554
Hottinger Capital Corp.	Share holder	1 Jun 1999	25% - 50%	13-3410109
Shields & Co.	Owner	1 Nov 2008	50% - 75%	13-3125594
H.G. Wellington & Co.	Owner	1 Nov 2008	25% - 50%	13-3216715
Deceased Estate Of Joseph Vincent Shields Jr.	Owner	1 Oct 2018	25% - 50%	83-6494642
David Vincent Shields	Executor	1 Oct 2018	Other	1072810
Maury Shields	Executrix	1 Oct 2018	Other	7043146

Based in New York

The principal office where Wellington Shields & Co., LLC performs its advisory services is located at 140 Broadway, New York, NY 10005, which is also the mailing address of the firm. An additional office of the firm is in Thomasville, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-320-3000 or by fax 212-320-3040. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at wellingtonshields.com.