Weinstat Wealth Management, Inc. (Jericho)

Name: Weinstat Wealth Management, Inc.
Address: 366 North Broadway Suite 209, Jericho, NY, 11753
Telephone: 516-621-3507

Weinstat Wealth Management, Inc. is a mid-sized advisory firm based in Jericho. It manages $62.42 million of regulatory assets for 34 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdiction of New York.

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

Weinstat Wealth Management: assets under management

The assets under management (AUM) of Weinstat Wealth Management, Inc. is $62.42 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 69% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $62.42 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.84 million each.

Investments

The firm invests in exchange traded securities the most. They account for 92% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 7% of the firm’s portfolio. Investments in investment grade corporate bonds form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Weinstat Wealth Management, Inc. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael Roy Weinstat serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Michael Roy Weinstat is high net worth individuals with 14 clients and $55.5 million of assets under management. Among the 3 most similar advisory firms, Weinstat Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $62.42 million for 34 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.

Weinstat Wealth Management doesn't advise any private funds.

Careers at Weinstat Wealth Management, Inc.

The company employs 1 person that is either a part- or full-time employee. 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Roy Weinstat	President/chief compliance officer	1 Nov 2010	75% - 100%	4640373

Based in Jericho

The principal office where Weinstat Wealth Management, Inc. performs its advisory services is located at 366 North Broadway Suite 209, Jericho, NY 11753, 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 516-621-3507 or by fax 516-277-1280. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at weinstatwealthmanagement.com.