Madison Advisory Services, Inc. (White Plains)

Name: Madison Advisory Services, Inc.
Address: 4 New King Street, White Plains, NY, 10604
Telephone: 914-328-8558

Madison Advisory Services, Inc. is a large advisory firm based in White Plains. It manages $170.48 million of regulatory assets for 1,721 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Connecticut, Florida, Illinois, and 6 other states.

Madison Advisory Services provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Madison Advisory Services: assets under management

The assets under management (AUM) of Madison Advisory Services, Inc. is $170.48 million. The firm's AUM has grown by 91% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $166.44 million in discretionary accounts and $4.04 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $98.95 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $103.64 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 15% of the firm’s portfolio. Investments in investment grade corporate bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Madison Advisory Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Madison Advisory Services serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Madison Advisory Services is individuals with 680 clients and $125.36 million of assets under management. Among the 6 most similar advisory firms, Madison Advisory Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $170.48 million for 730 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.

Madison Advisory Services doesn't advise any private funds.

Careers at Madison Advisory Services, Inc.

The company employs 16 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 11 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
Gary Robert Schwartz	President, chief compliance officer	1 Jun 2004	75% - 100%	2184551
Dean Eric Mcbeth	Chief operating officer	1 Jan 2005	Other	4450820
Andrew Joseph Federico	Director of planning	1 May 2005	Other	4860854
Benjamin David Schwartz	Chief operating officer	1 Sep 2018	Other	5947172

Based in White Plains

The principal office where Madison Advisory Services, Inc. performs its advisory services is located at 4 New King Street, White Plains, NY 10604, which is also the mailing address of the firm. An additional office of the firm is in Lake Worth, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 914-328-8558 or by fax 914-684-6995. The normal business hours are 8 a.m. to 5 p.m. on Monday - Friday. You can find more information about the New York firm at madisonplanning.net.