Paul Damon & Associates, Inc. is a large advisory firm based in Grand Rapids. It manages $124.1 million of regulatory assets for 702 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Michigan and Texas.
Paul Damon & Associates provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. 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 Paul Damon & Associates, Inc. is $124.1 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 287% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has a single stream of revenue. Clients pay Paul Damon & Associates, Inc. for their services and products based on a percentage of assets under management. 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.
The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Paul John Damon is high net worth individuals with 52 clients and $58 million of assets under management. Among the 7 most similar advisory firms, Paul Damon & Associates has the 3rd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $124.1 million for 279 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.
Paul Damon & Associates doesn't advise any private funds.
The company employs 8 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.
There’s a single person 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 Paul Damon & Associates, Inc. performs its advisory services is located at 168 Louis Campau Promenade Nw,, Grand Rapids, MI 49503, 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 616-774-4560 or by fax 616-774-4568. 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 familycapitalmgt.com.