Caruso Mclean & Co., Inc. (Utica)

Name: Caruso Mclean & Co., Inc.
Address: 130 Lomond Court, Utica, NY, 13502
Telephone: 315-724-5105

Caruso Mclean & Co., Inc. is a large advisory firm based in Utica. It manages $154.67 million of regulatory assets for 150 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of New York and Ohio.

Caruso Mclean & Co. provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Caruso Mclean & Co.: assets under management

The assets under management (AUM) of Caruso Mclean & Co., Inc. is $154.67 million. The firm's AUM has gone down by -24% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $100.54 million in discretionary accounts and $54.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.04 million.

Investments

The firm invests in exchange traded securities the most. They account for 90% of the total AUM. The second-largest asset type is government bonds, which make up 4% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Caruso Mclean & Co., 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 Caruso Mclean & Co. serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Caruso Mclean & Co. is high net worth individuals with 61 clients and $79.02 million of assets under management. Among the 8 most similar advisory firms, Caruso Mclean & Co. has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $143 million for 145 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.

Caruso Mclean & Co. doesn't advise any private funds.

Careers at Caruso Mclean & Co., Inc.

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 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
Gregory Bruce Mclean	Ceo, president, cfo	1 Mar 1988	75% - 100%	722787
Ernest Ralph Caruso	Cfo, cco, vice president	1 Mar 1988	50% - 75%	1051928
Stephen Louis Caruso	Chief compliance officer	1 Jan 2011	Other	2729658

Based in Utica

The principal office where Caruso Mclean & Co., Inc. performs its advisory services is located at 130 Lomond Court, Utica, NY 13502, 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 315-724-5105 or by fax 315-724-5196. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at carusomclean.com.