Salomon And Ludwin, LLC (Richmond)

Name: Salomon And Ludwin, LLC
Address: 1401 Gaskins Road, Richmond, VA, 23238
Telephone: 804-363-8598

Salomon And Ludwin, LLC is a large advisory firm based in Richmond. It manages $949.31 million of regulatory assets for 2,906 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Alaska, Arizona, Arkansas, and 27 other states.

Salomon And Ludwin provides portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Salomon And Ludwin: assets under management

The assets under management (AUM) of Salomon And Ludwin, LLC is $949.31 million. The firm's AUM has grown by 21% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $578.42 million in discretionary accounts and $370.89 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $515.53 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $207.9 thousand.

Salomon And Ludwin has custody of $949.31 million in cash and securities for 605 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is investment and business development companies, which make up 20% of the firm’s portfolio. Investments in other assets form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Salomon And Ludwin, LLC for their services and products based on a percentage of assets under management, hourly charges, and commissions. 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 Daniel Buford Ludwin serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Daniel Buford Ludwin is high net worth individuals with 275 clients and $818.5 million of assets under management. Among the 9 most similar advisory firms, Salomon And Ludwin has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $949.31 million for 605 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.

Salomon And Ludwin doesn't advise any private funds.

Careers at Salomon And Ludwin, LLC

The company employs 13 people that are either part- or full-time employees. 54 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.

Daniel Buford Ludwin has been acting as President since 1 Jan 2018. Polly White Cordle joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Dalal Maria Salomon	Chief executive officer	1 Jan 2018	50% - 75%	1057441
Daniel Buford Ludwin	President	1 Jan 2018	25% - 50%	2423632
Polly White Cordle	Chief compliance officer	1 Jan 2018	Other	2875017
Daniel B. Ludwin Revocable Trust	Owner	1 Jan 2018	25% - 50%	xxx-xx-xxxx
Dalal M Salomon Revocable Trust	Owner	1 Jan 2018	50% - 75%	xxx-xx-xxxx

Based in Richmond

The principal office where Salomon And Ludwin, LLC performs its advisory services is located at 1401 Gaskins Road, Richmond, VA 23238, 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 804-363-8598. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at salomonludwin.com.