Berkshire Asset Management, LLC is a large advisory firm based in Wilkes Barre. It manages $1.62 billion of regulatory assets for 1,827 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama, Arizona, California, and 23 other states.
Berkshire Asset Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Berkshire Asset Management, LLC is $1.62 billion. The firm's AUM has grown by 133% 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 Berkshire Asset Management, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Berkshire Asset Management is high net worth individuals with 1,694 clients and $1.38 billion of assets under management. Among the 8 most similar advisory firms, Berkshire Asset Management has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $1.62 billion for 1,827 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.
Berkshire Asset Management also advises several private funds. Namely, one hedge fund and one other private fund. The minimum investment commitment required of non-related persons ranges from $25,000 to $100,000.
The company employs 10 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.
There are 16 people 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.
The principal office where Berkshire Asset Management, LLC performs its advisory services is located at 46 Public Square, Wilkes Barre, PA 18701 2609, 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 570-825-2600 or by fax 570-825-2286. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at berkshireasset.com/.