Spirit Of America Management Corp (Syosset)


Spirit Of America Management Corp is a large advisory firm based in Syosset. It manages $862.32 million of regulatory assets for 25 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Connecticut, Florida, New Jersey, and New York.

Spirit Of America Management Corp provides portfolio management for individuals and small businesses and portfolio management for investment companies. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Spirit Of America Management Corp: assets under management

The assets under management (AUM) of Spirit Of America Management Corp is $862.32 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 5711% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $862.32 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $34.49 million each.

Investments

The firm invests in investment and business development companies the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Spirit Of America Management Corp for their services and products based on a percentage of assets under management. 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 Spirit Of America Management Corp serves?

The firm provides services to individuals and investment companies. The largest group of clients of Spirit Of America Management Corp is investment companies with 1 clients and $860.74 million of assets under management. Among the 11 most similar advisory firms, Spirit Of America Management Corp has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $862.32 million for 20 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.

Spirit Of America Management Corp doesn't advise any private funds.

Careers at Spirit Of America Management Corp

The company employs 50 people that are either part- or full-time employees. 94 percent of the employees work as investment advisers or researchers. 11 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 compensates 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
David Lerner President;director 1 May 1997 75% - 100% 307120
Constance Ferreira Chief operating officer 1 May 1997 Other 1366129
Daniel Ellis Chafetz Chief compliance officer 1 May 1997 Other 44023
Alan P Chodosh Treasurer 1 Jun 2003 Other 2918542
Joseph Chalmers Pickard Chief compliance officer 1 Aug 2007 Other 2146398

Based in Syosset

The principal office where Spirit Of America Management Corp performs its advisory services is located at 477 Jericho Turnpike, Syosset, NY 11791 9006, which is also the mailing address of the firm. An additional office of the firm is in Lawrenceville, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 516-921-4200 or by fax 516-921-1546. The normal business hours are 9:00 a.m.-5:00 p.m. on Monday - Friday.