Devere Usa Inc. (New York)
Devere Usa Inc. is a large advisory firm based in New York. It manages $427 million of regulatory assets for 920 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Arizona, Arkansas, California, and 26 other states.
Devere U provides financial planning services, pension consulting services, educational seminars and workshops, and investment advisory services. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.
Devere U: assets under management
The assets under management (AUM) of Devere Usa Inc. is $427 million. $1.1 million of the total AUM is attributable to clients outside of the United States.
Investments
The firm invests in other assets the most. They account for 75% of the total AUM. The second-largest asset type is exchange traded securities, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.Fees & Commissions
The advisory firm has several streams of revenue. Clients pay Devere Usa Inc. for their services and products based on a percentage of assets under management 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 Devere U serves?
The firm provides services to individuals and high net worth individuals. The largest group of clients of Devere U is individuals with 616 clients and $294.41 million of assets under management. Among the 10 most similar advisory firms, Devere U has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $427 million for 894 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Devere U doesn't advise any private funds.
Careers at Devere Usa Inc.
The company employs 17 people that are either part- or full-time employees. 47 percent of the employees work as investment advisers or researchers. 12 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.
Stephen Dain Philp joined the executive team most recently as the Interim Chief Compliance Officer.
Direct owners and executive officers
Indirect Owners
The SEC currently registers 8 indirect owners.Based in New York
The principal office where Devere Usa Inc. performs its advisory services is located at 767 Third Avenue, New York, NY 10017, 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 646-366-5180 or by fax 646-664-0678. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at devere-usa.com.
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