Veteri Place Corporation (Parsippany)

Veteri Place Corporation is a large advisory firm based in Parsippany. It manages $207.26 million of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdiction of New Jersey.

Veteri Place Corporation provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Veteri Place Corporation: assets under management

The assets under management (AUM) of Veteri Place Corporation is $207.26 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 15% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $207.26 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $25.91 million each.

Veteri Place Corporation has custody of $72.67 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Veteri Place Corporation for their services and products based on a percentage of assets under management and performance-based 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 Lawrence Bruce Seidman serves?

The only and largest group of clients of Lawrence Bruce Seidman is pooled investment vehicles with 8 clients and $207.26 million of assets under management. Among the 13 most similar advisory firms, Veteri Place Corporation has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $207.26 million for 8 clients. None of the firm’s clients are foreign persons or businesses.

Veteri Place Corporation also advises several private funds. Namely, eight hedge funds. The minimum investment commitment required of non-related persons ranges from $0 to $250,000.

Careers at Veteri Place Corporation

The company employs 2 people that are either part- or full-time employees. 100 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.

Lawrence Bruce Seidman has been acting as President since 1 Jan 1995. Michael Lee Hammer joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lawrence Bruce Seidman	President/director/chief compliance officer	1 Jan 1995	25% - 50%	1380234
Allison Seidman Hammer	Shareholder	1 Sep 2006	25% - 50%	2762005
Erica Seidman Fishman	Shareholder	1 Sep 2006	25% - 50%	6041573
Allison Beth Hammer	Shareholder	1 Sep 2006	25% - 50%	2762005
Erica Joy Fishman	Shareholder	1 Sep 2006	25% - 50%	6041573
Allison Seidman Hammer	Trustee - allison hammer 2013 irrevocable trust	1 Jun 2013	25% - 50%	2762005
Erica Seidman Fishman	Trustee - erica fishman 2013 irrevocable trust	1 Jun 2013	25% - 50%	6041573
Allison Hammer 2013 Irrevocable Trust	Member - jbrc i, llc (relying adviser)	1 Jan 2014	25% - 50%	46-6822685
Erica Fishman 2013 Irrevocable Trust	Member - jbrc i, llc (relying adviser)	1 Jan 2014	25% - 50%	46-6824156
Lawrence Bruce Seidman	Managing member - jbrc i, llc (relying adviser)	1 Jan 2014	Other	1380234
Michael Lee Hammer	Chief compliance officer	1 Jun 2014	Other	4308938

Based in Parsippany

The principal office where Veteri Place Corporation performs its advisory services is located at 100 Lanidex Plaza, Parsippany, NJ 07054, 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 973-952-0405 or by fax 973-781-0876. The normal business hours are 8:30am-5:00pm on Monday - Friday.