Wellington Shields & Co., LLC (New York)


Wellington Shields & Co., LLC is a large advisory firm based in New York. It manages $258.37 million of regulatory assets for 213 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Arizona, Connecticut, Delaware, and 11 other states.

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Wellington Shields & Co. 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.

Wellington Shields & Co.: assets under management

The assets under management (AUM) of Wellington Shields & Co., LLC is $258.37 million. The firm's AUM has grown by 91% since the beginning of its operation, and $14.6 million of the total AUM is attributable to clients outside of the United States.


The firm manages $232.23 million in discretionary accounts and $26.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.13 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.27 million.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 19% of the firm’s portfolio. Investments in investment and business development companies form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wellington Shields & Co., LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joseph Vincent Jr Shields serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Joseph Vincent Jr Shields is high net worth individuals with 67 clients and $204.93 million of assets under management. Among the 10 most similar advisory firms, Wellington Shields & Co. has the 4th highest percentage of high net worth individuals out of all clients.


The amount of regulatory assets under management is $251.9 million for 210 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Wellington Shields & Co. doesn't advise any private funds.

Careers at Wellington Shields & Co., LLC

The company employs 21 people that are either part- or full-time employees. 52 percent of the employees work as investment advisers or researchers. 10 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.

Joseph Vincent Jr Shields has been acting as President since 1 Oct 2008. Deceased Estate Of Joseph Vincent Shields Jr. joined the executive team most recently as the Owner.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Laurence Arthur Shadek Managing member/secy/co-srop/co-crop 1 Oct 2008 Other 419483
David Vincent Shields Vice chairman/managing member 1 Oct 2008 Other 1072810
Joseph Vincent Jr Shields Chairman/ managing member 1 Oct 2008 Other 700539
Mark Porter Sperry Member 1 Oct 2008 Other 1330909
Charles H Wellington Vice chairman/managing member 1 Oct 2008 Other 2625149
Kevin Patrick Vancleve Msrb principal 1 Oct 2008 Other 1022686
Llc Wellington Shields Holdings Owner 1 Nov 2008 75% - 100% 26-3489230
Joseph Nicholas Cembrola Member operations 1 Nov 2008 Other 2310761
Philip Michael Curcuru Cfo/coo 1 Nov 2008 Other 4170350
Thomas Waters Grant Managing member 1 Nov 2008 Other 227594
Paul Immo Jr Gulden Managing member 1 Nov 2008 Other 231863
Marguerite Kramer Kircher Co-srop/co-crop 1 Nov 2008 Other 1476282
Ralph Joseph Scarpa Co-ceo/managing member 1 Nov 2008 Other 718855
James Mcclenahan Shadek Member-sales 1 Nov 2008 Other 702481
Christopher Francis Meyer Chief compliance officer 1 Nov 2008 Other 1075415
Edward Kenneth March Senior vice president, head of trading, msrb principal 1 Jul 2011 Other 2100535
Stephen John Portas Chief compliance officer 1 Mar 2013 Other 2482930
William Jameson Mcfadden President 1 Jan 2017 Other 5337971

Indirect Owners

The SEC currently registers 10 indirect owners.

Name Entity Date acquired Ownership Employer ID
David Vincent Shields President/managing director 1 Jun 1982 25% - 50% 1072810
Joseph Vincent Jr Shields Chairman/managing director 1 Jun 1982 50% - 75% 700539
Paul Immo Jr Gulden Evp/dir 1 May 1984 25% - 50% 231863
Peter Jay Lagemann Evp/dir 1 Mar 1986 25% - 50% 300554
Hottinger Capital Corp. Share holder 1 Jun 1999 25% - 50% 13-3410109
Shields & Co. Owner 1 Nov 2008 50% - 75% 13-3125594
H.G. Wellington & Co. Owner 1 Nov 2008 25% - 50% 13-3216715
Deceased Estate Of Joseph Vincent Shields Jr. Owner 1 Oct 2018 25% - 50% 83-6494642
David Vincent Shields Executor 1 Oct 2018 Other 1072810
Maury Shields Executrix 1 Oct 2018 Other 7043146

Based in New York

The principal office where Wellington Shields & Co., LLC performs its advisory services is located at 140 Broadway, New York, NY 10005, which is also the mailing address of the firm. An additional office of the firm is in Thomasville, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-320-3000 or by fax 212-320-3040. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at wellingtonshields.com.