Empire Financial Management Company, LLC (New York)

Empire Financial Management Company, LLC is a large advisory firm based in New York. It manages $330 million of regulatory assets for 789 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, Arkansas, California, and 15 other states.

Empire Financial Management Company provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and publication of newsletters. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Empire Financial Management Company: assets under management

The assets under management (AUM) of Empire Financial Management Company, LLC is $330 million. The firm's AUM has grown by 450% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $300 million in discretionary accounts and $30 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $625 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $97.09 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 70% of the total AUM. The second-largest asset type is investment and business development companies, which make up 17% of the firm’s portfolio. Investments in investment grade corporate bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Empire Financial Management Company, LLC for their services and products based on a percentage of assets under management and commissions. 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 Empire Financial Management Company serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Empire Financial Management Company is high net worth individuals with 304 clients and $280 million of assets under management. Among the 10 most similar advisory firms, Empire Financial Management Company has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $330 million for 789 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.

Empire Financial Management Company doesn't advise any private funds.

Careers at Empire Financial Management Company, LLC

The company employs 12 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. 2 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.

Anthony V Manory has served as the Chief Investment Officer since 1 Jan 2018. Robert Steven Feinman joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Empire Investment Group Holdings Llc	Owner	1 Nov 2006	75% - 100%	20-5835199
Gregg Lance Zeoli	Managing member/chief compliance officer	1 Dec 2007	Other	2620340
Robert Steven Feinman	Chief compliance officer	1 Mar 2017	Other	205708
Anthony V Manory	Chief investment officer	1 Jan 2018	Other	2091325

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Empire Asset Management Ltd.	Sole member/manager	1 Mar 2003	75% - 100%	04-3753724
Gregg Lance Zeoli	Shareholder	1 Mar 2003	50% - 75%	2620340
Empire Asset Management Of Ny	Sole member/manager	1 Mar 2003	75% - 100%	04-3753724

Based in New York

The principal office where Empire Financial Management Company, LLC performs its advisory services is located at 29 Broadway, New York, NY 10006, 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 212-417-8247 or by fax 212-417-8229. The normal business hours are 9:00am - 5:00pm on Monday - Friday.