Thomas J. Herzfeld Advisors, Inc. (Miami Beach)

Name: Thomas J. Herzfeld Advisors, Inc.
Address: 119 Washington Avenue, Miami Beach, FL, 33139
Telephone: 305-777-1660

Thomas J. Herzfeld Advisors, Inc. is a large advisory firm based in Miami Beach. It manages $320.53 million of regulatory assets for 291 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Florida, and 4 other states.

Thomas J. Herzfeld Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, and consulting on subjects related to closed-end funds. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Thomas J. Herzfeld Advisors: assets under management

The assets under management (AUM) of Thomas J. Herzfeld Advisors, Inc. is $320.53 million. The firm's AUM has grown by 349% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $299.24 million in discretionary accounts and $21.29 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.12 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $887.05 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 73% of the total AUM. The second-largest asset type is exchange traded securities, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Thomas J. Herzfeld Advisors, Inc. for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Thomas Jay Herzfeld serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Thomas Jay Herzfeld is high net worth individuals with 246 clients and $188.58 million of assets under management. Among the 6 most similar advisory firms, Thomas J. Herzfeld Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $320.53 million for 291 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.

Thomas J. Herzfeld Advisors doesn't advise any private funds.

Careers at Thomas J. Herzfeld Advisors, Inc.

The company employs 9 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. No 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.

Thomas Jay Herzfeld has been acting as President since 1 Feb 1984. Thomas Kenneth Morgan joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Jay Herzfeld	President/secretary/treasurer/sole director	1 Feb 1984	75% - 100%	244419
Cecilia Laura Gondor	Executive vice president/chief compliance officer	1 Apr 1984	Other	1300593
Erik Mervin Herzfeld	Managing director	1 Oct 2008	Other	3121564
Reanna Jane Moran Lee	Chief compliance officer	1 Dec 2012	Other	6117605
Thomas Kenneth Morgan	Chief compliance officer	1 Sep 2018	Other	5917608

Based in Miami Beach

The principal office where Thomas J. Herzfeld Advisors, Inc. performs its advisory services is located at 119 Washington Avenue, Miami Beach, FL 33139, 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 305-777-1660 or by fax 305-270-1040. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at herzfeldresearch.com.