Hefren Tillotson, Inc. (Pittsburgh)

Name: Hefren Tillotson, Inc.
Address: 308 Seventh Ave, Pittsburgh, PA, 15222
Telephone: 412-434-0990

Hefren Tillotson, Inc. is a large advisory firm based in Pittsburgh. It manages $7.77 billion of regulatory assets for 24,752 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Arizona, California, and 29 other states.

Hefren Tillotson provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Hefren Tillotson: assets under management

The assets under management (AUM) of Hefren Tillotson, Inc. is $7.77 billion. The firm's AUM has grown by 1467% since the beginning of its operation, and $3.82 million of the total AUM is attributable to clients outside of the United States.

The firm manages $4.34 billion in discretionary accounts and $3.42 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $346.11 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $280.47 thousand.

Hefren Tillotson has custody of $7.77 billion in cash and securities for 10,688 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 80% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hefren Tillotson, Inc. for their services and products based on a percentage of assets under management, hourly charges, and commissions. 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 Donald Mcghee Belt serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Donald Mcghee Belt is high net worth individuals with 3,280 clients and $5.01 billion of assets under management. Among the 8 most similar advisory firms, Hefren Tillotson has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.77 billion for 10,760 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.

Hefren Tillotson doesn't advise any private funds.

Careers at Hefren Tillotson, Inc.

The company employs 236 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 132 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.

Donald Mcghee Belt has been acting as President since 1 Nov 2018. Craig Arthur Tillotson joined the executive team most recently as the Vice Chairman.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Willard Jonathan Tillotson	Chairman of the board	1 Sep 1959	Other	447018
Inc. Masterplan	Parent company	1 Sep 1969	75% - 100%	25-1198407
James Gerard Meredith	Executive vice president	1 Oct 1977	Other	853602
Kimberly Tillotson Fleming	President / ceo	1 Aug 1979	Other	871264
David Lawrence Watters	Executive vice president	1 Feb 1980	Other	460236
Ralph Drew Kistler	Vice chairman / cco	1 Jul 1980	Other	270988
Craig Arthur Tillotson	Executive vice president / investments	1 Aug 1984	Other	1296742
Neil Hugh Alexander	Coo	1 Feb 1999	Other	3259485
Joseph M Niesslein	Cfo / treasurer	1 Sep 2001	Other	3057789
John Patrick Meegan	Chief operating officer	1 Nov 2005	Other	1649825
Kimberly Tillotson Fleming	President / ceo / chairman	1 Nov 2010	Other	871264
Paul Edward Taddeo	Chief compliance officer	1 Jan 2013	Other	1259114
Craig Arthur Tillotson	Vice chairman	1 Dec 2013	Other	1296742
Donald Mcghee Belt	President	1 Nov 2018	Other	2252406

Based in Pittsburgh

The principal office where Hefren Tillotson, Inc. performs its advisory services is located at 308 Seventh Ave, Pittsburgh, PA 15222, which is also the mailing address of the firm. An additional office of the firm is in Canonsburg, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 412-434-0990 or by fax 412-261-4348. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at hefren.com.