Genesee Capital Advisors, LLC (Auburn)

Name: Genesee Capital Advisors, LLC
Address: 46 South Street, Auburn, NY, 13021
Telephone: 315-554-3020

Genesee Capital Advisors, LLC is a large advisory firm based in Auburn. It manages $151.91 million of regulatory assets for 1,002 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, District of Columbia, Florida, and 6 other states.

Genesee Capital Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Genesee Capital Advisors: assets under management

The assets under management (AUM) of Genesee Capital Advisors, LLC is $151.91 million. The firm's AUM has grown by 63% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $148.67 million in discretionary accounts and $3.24 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $148.67 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.62 million.

Genesee Capital Advisors has custody of $39.5 million in cash and securities for 185 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is investment and business development companies, which make up 41% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Genesee Capital Advisors, 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 Genesee Capital Advisors serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Genesee Capital Advisors is individuals with 341 clients and $82.12 million of assets under management. Among the 10 most similar advisory firms, Genesee Capital Advisors has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $151.91 million for 375 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.

Genesee Capital Advisors doesn't advise any private funds.

Careers at Genesee Capital Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 50 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
Michael Christopher Hearn	Managing member, president, chief executive officer, chief investment officer	1 May 2013	75% - 100%	2131707
Jean Marie Hart	Member, chief administrative officer and operations officer, chief compliance officer	1 May 2013	Other	1564184
Ryan Winfield Pine	Member, senior vice president, wealth management, investment officer	1 May 2013	Other	4848779

Based in Auburn

The principal office where Genesee Capital Advisors, LLC performs its advisory services is located at 46 South Street, Auburn, NY 13021, 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 315-554-3020. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at geneseeadvisors.com/.