Aurum Wealth Management Group LLC (Mayfield Village)

Name: Aurum Wealth Management Group LLC
Address: 6685 Beta Drive, Mayfield Village, OH, 44143
Telephone: 440-605-1900

Aurum Wealth Management Group LLC is a large advisory firm based in Mayfield Village. It manages $709.09 million of regulatory assets for 825 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California, Florida, Georgia, and 9 other states.

Aurum Wealth Management Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and consulting. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Aurum Wealth Management Group: assets under management

The assets under management (AUM) of Aurum Wealth Management Group LLC is $709.09 million. The firm's AUM has grown by 1613% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $704.44 million in discretionary accounts and $4.65 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $855.94 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.33 million.

Aurum Wealth Management Group has custody of $244.53 million in cash and securities for 169 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 74% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 10% of the firm’s portfolio. Investments in exchange traded securities form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Aurum Wealth Management Group LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Aurum Wealth Management Group serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Aurum Wealth Management Group is high net worth individuals with 137 clients and $501.01 million of assets under management. Among the 7 most similar advisory firms, Aurum Wealth Management Group has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $709.09 million for 821 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.

Aurum Wealth Management Group doesn't advise any private funds.

Careers at Aurum Wealth Management Group LLC

The company employs 16 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 5 people 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Skoda Minotti Holdings	Member	1 Mar 2005	50% - 75%	34-1972334
Gregory (Nmn) Skoda	Executive director	1 Mar 2005	Other	4928242
Charles Joseph Farro	Executive director	1 May 2005	Other	4926973
Joseph Ross Crea	Executive director	1 May 2005	Other	2110561
Fc Holdings Llc	Member	1 Aug 2006	50% - 75%	20-5486209
Chris Donald Bart	Managing director / chief compliance officer	1 Dec 2006	25% - 50%	2581031
Eric Norman Wulff	Managing director	1 Dec 2006	25% - 50%	2509562
Michael Louis Minotti	Executive director	1 Dec 2006	Other	5265447
Michael Thomas Mckeown	Chief compliance officer / associate vice president	1 Dec 2006	Other	4807983
Patrick Carney	Manager	1 Apr 2013	Other	6185116
Patrick Thomas Carney	Manager	1 Apr 2013	Other	6185116
Charles Donald Moore	Managing director, partner	1 Apr 2017	Other	4399837
Matthew James Reghetti	Partner	1 Apr 2017	Other	5802305
Matthew J Reghetti	Partner	1 Apr 2017	Other	5802305
Perry Dennis Reghetti	Managing director, partner	1 Jun 2017	Other	3198735
Wendy Lynn Eldridge	Partner	1 Dec 2017	Other	4586114

Based in Mayfield Village

The principal office where Aurum Wealth Management Group LLC performs its advisory services is located at 6685 Beta Drive, Mayfield Village, OH 44143, which is also the mailing address of the firm. An additional office of the firm is in Tampa, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 440-605-1900 or by fax 440-605-0200. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at aurumwealth.com.