Deroy & Devereaux Private Investment Counsel, Inc. (Southfield)

Name: Deroy & Devereaux Private Investment Counsel, Inc.
Address: 2000 Town Center, Southfield, MI, 48075
Telephone: 248-358-3220

Deroy & Devereaux Private Investment Counsel, Inc. is a large advisory firm based in Southfield. It manages $1.47 billion of regulatory assets for 528 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Arizona, California, Florida, and 14 other states.

Deroy & Devereaux Private Investment Counsel provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Deroy & Devereaux Private Investment Counsel: assets under management

The assets under management (AUM) of Deroy & Devereaux Private Investment Counsel, Inc. is $1.47 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 1531% since the beginning of its operation, and $5.33 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.47 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.78 million each.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Deroy & Devereaux Private Investment Counsel, Inc. for their services and products based on a percentage of assets under management and fixed fees. 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 Gregg Devereaux Watkins serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Gregg Devereaux Watkins is high net worth individuals with 101 clients and $939.6 million of assets under management. Among the 9 most similar advisory firms, Deroy & Devereaux Private Investment Counsel has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.47 billion for 178 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.

Deroy & Devereaux Private Investment Counsel doesn't advise any private funds.

Careers at Deroy & Devereaux Private Investment Counsel, Inc.

The company employs 18 people that are either part- or full-time employees. 39 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Gregg Devereaux Watkins has been acting as President since 1 Mar 2013. Karl Laurence Knas joined the executive team most recently as the Portfolio Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Gregg Devereaux Watkins	Chairman & portfolio manager	1 Apr 2002	25% - 50%	800449
Gregg Devereaux Watkins	President	1 Jun 2002	50% - 75%	xxx-xx-xxxx
Arthur Deroy Rodecker	Chairman	1 Jun 2002	50% - 75%	xxx-xx-xxxx
Michael Joseph Madison	Portfolio manager	1 May 2003	Other	4552576
Joan Elizabeth Watkins	Chief operating officer	1 Jul 2003	Other	4745648
Michael Francis Harris	Portfolio manager	1 Jun 2004	Other	4331821
Jeffrey William Wardlow	Chief investment officer & portfolio manager	1 Jul 2004	25% - 50%	4608320
Michael Joseph Madison	Vice president	1 May 2006	Other	4552576
John Eric Krakowiak	Marketing director	1 Oct 2006	Other	5765890
Arthur Deroy Rodecker	Chairman emeritus	1 Dec 2007	25% - 50%	xxx-xx-xxxx
Sean Adam Metrose	President & portfolio manager	1 Apr 2008	25% - 50%	2930598
William Charles Hullinger	Chief operations officer	1 Jun 2011	Other	6005277
Gregg Devereaux Watkins	President / chief compliance officer	1 Nov 2011	Other	800449
Sarah Bliss Schattner	Director of marketing & client service	1 Dec 2012	Other	5762630
Arthur D. Rodecker Revocable Living Trust U/A Dtd. 1 27 1983 Amended 4 3 2002.	Shareholder	1 Dec 2012	Other	xxx-xx-xxxx
Gregg Devereaux Watkins	President	1 Mar 2013	Other	800449
Jeffrey William Wardlow	Chief investment officer & portfolio manager	1 Jul 2013	25% - 50%	4608320
Sean Adam Metrose	President & portfolio manager	1 Jul 2013	25% - 50%	2930598
Gregg Devereaux Watkins	Chairman & portfolio manager	1 Jul 2013	25% - 50%	800449
Julie Hollinshead	Portfolio manager	1 Aug 2013	Other	2685943
Mary Elizabeth Barnds Grabel	Chief compliance officer	1 Nov 2013	Other	2788526
Karl Laurence Knas	Portfolio manager	1 Sep 2015	Other	4365544

Based in Southfield

The principal office where Deroy & Devereaux Private Investment Counsel, Inc. performs its advisory services is located at 2000 Town Center, Southfield, MI 48075, 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 248-358-3220 or by fax 248-358-9111. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at deroydevereaux.com/ and its LinkedIn profile.