Heron Financial Group, LLC (New York)

Name: Heron Financial Group, LLC
Address: 205 East 42 Nd Street, New York, NY, 10017
Telephone: 800-994-3766

Heron Financial Group, LLC is a large advisory firm based in New York. It manages $314.18 million of regulatory assets for 1,441 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California, Connecticut, Florida, and 6 other states.

Heron Financial Group 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.

Heron Financial Group: assets under management

The assets under management (AUM) of Heron Financial Group, LLC is $314.18 million. The firm's AUM has grown by 327% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $182.36 million in discretionary accounts and $131.82 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $314.96 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $152.92 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 53% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 41% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Heron Financial Group is high net worth individuals with 77 clients and $278.08 million of assets under management. Among the 10 most similar advisory firms, Heron Financial Group has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $314.18 million for 172 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 7% of the firm’s clients are foreign persons or businesses.

Heron Financial Group doesn't advise any private funds.

Careers at Heron Financial Group, LLC

The company employs 7 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. No 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 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jared Frank Tausig	Trustee of both member trusts	1 Dec 1992	Other	5465110
David Say Edwards	Member, manager, president & chief compliance officer	1 Dec 2007	75% - 100%	1343391
Arianna Tausig Edwards Trust U/A Dated 12/09/1992	Member	1 Dec 2007	Other	11-6414005
Nicholas Tausig Edwards Trust U/A Dated 01/29/1996	Member	1 Dec 2007	Other	13-7085198
Ate Trust U/A Dated 12/09/1992	Member	1 Dec 2007	Other	11-6414005
Nte Trust U/A Dated 01/29/1996	Member	1 Dec 2007	Other	13-7085198

Based in New York

The principal office where Heron Financial Group, LLC performs its advisory services is located at 205 East 42 Nd Street, New York, NY 10017 The mailing address of the firm is 205 East 42 Nd Street, New York, NY 10017. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-994-3766 or by fax 347-580-5289. The normal business hours are 9:00 am to 5:00 pm; other hours by appointment on Monday - Friday. You can find more information about the New York firm at heronfinancialgroup.com.