Forteris Wealth Management, Inc. (Armonk)

Name: Forteris Wealth Management, Inc.
Address: 200 Business Park Drive, Armonk, NY, 10504
Telephone: 914-696-5300

Forteris Wealth Management, Inc. is a large advisory firm based in Armonk. It manages $101.91 million of regulatory assets for 376 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Colorado, Connecticut, Florida, and 3 other states.

Forteris Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Forteris Wealth Management: assets under management

The assets under management (AUM) of Forteris Wealth Management, Inc. is $101.91 million. The firm's AUM has gone down by -37% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $101.44 million in discretionary accounts and $466.97 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $272.7 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $116.74 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in investment grade corporate bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Forteris Wealth Management, 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 Forteris Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Forteris Wealth Management is high net worth individuals with 59 clients and $88.95 million of assets under management. Among the 7 most similar advisory firms, Forteris Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $101.91 million for 103 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.

Forteris Wealth Management doesn't advise any private funds.

Careers at Forteris Wealth Management, Inc.

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Jay Warren Furst	Principal	1 Aug 1993	75% - 100%	1775883
Cheryl Ann Costa	Chief compliance officer	1 Mar 2013	Other	5030307

Based in Armonk

The principal office where Forteris Wealth Management, Inc. performs its advisory services is located at 200 Business Park Drive, Armonk, NY 10504, 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 914-696-5300 or by fax 914-696-5308. The normal business hours are 8:00 am -- 6:00 pm on Monday - Friday. You can find more information about the New York firm at forteriswealth.com.