Gregory Joseph Litts (Houston)

Name: Gregory Joseph Litts
Address: 5701 Woodway Dr., #130, Houston, TX, 77057
Telephone: 713-523-1884

Gregory Joseph Litts is a large advisory firm based in Houston. It manages $210.08 million of regulatory assets for 898 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdiction of Texas.

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

Gregory Joseph Litts: assets under management

The assets under management (AUM) of Gregory Joseph Litts is $210.08 million. The firm's AUM has grown by 640% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $198.12 million in discretionary accounts and $11.96 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $222.85 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.33 million.

Gregory Joseph Litts has custody of $49.62 million in cash and securities for 10 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 52% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 22% of the firm’s portfolio. Investments in exchange traded securities form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Gregory Joseph Litts 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 Gregory Joseph Litts serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Gregory Joseph Litts is high net worth individuals with 46 clients and $141.3 million of assets under management. Among the 12 most similar advisory firms, Gregory Joseph Litts has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $210.08 million for 274 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.

Gregory Joseph Litts doesn't advise any private funds.

Careers at Gregory Joseph Litts

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 4 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 Joseph Litts	Principal & chief compliance officer	1 Dec 2001	75% - 100%	2349612
Michael Brian Wachsler	Vice president of business development	1 Jan 2008	Other	2936160

Based in Houston

The principal office where Gregory Joseph Litts performs its advisory services is located at 5701 Woodway Dr., #130, Houston, TX 77057, 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 713-523-1884 or by fax 281-966-1653. The normal business hours are 8:00 am - 4:00 pm on Monday - Friday. You can find more information about the New York firm at rjcap.com.