Accountants Proprietary Financial Servicenet, Inc. (Lynbrook)

Accountants Proprietary Financial Servicenet, Inc. is a large advisory firm based in Lynbrook. It manages $471.89 million of regulatory assets for 301 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Arizona, California, Connecticut, and 7 other states.

Accountants Proprietary Financial Servicenet provides portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Accountants Proprietary Financial Servicenet: assets under management

The assets under management (AUM) of Accountants Proprietary Financial Servicenet, Inc. is $471.89 million. The firm's AUM has grown by 945% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $180 million in discretionary accounts and $291.89 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $796.45 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.89 million.

Investments

The firm invests in exchange traded securities the most. They account for 55% of the total AUM. The second-largest asset type is government bonds, which make up 16% of the firm’s portfolio. Investments in investment grade corporate bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Accountants Proprietary Financial Servicenet, Inc. 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 Neil Wesley Boyarsky serves?

The only and largest group of clients of Neil Wesley Boyarsky is pension and profit sharing plans with 301 clients and $471.89 million of assets under management. Among the 10 most similar advisory firms, Accountants Proprietary Financial Servicenet has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $471.89 million for 301 clients. None of the firm’s clients are foreign persons or businesses.

Accountants Proprietary Financial Servicenet doesn't advise any private funds.

Careers at Accountants Proprietary Financial Servicenet, Inc.

The company employs 5 people that are either part- or full-time employees. 80 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.

Neil Wesley Boyarsky has been acting as President since 1 Dec 2004. William Hartstein joined the executive team most recently as the Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Ift Holding Llc	Shareholder	1 Dec 1999	75% - 100%	52-2220731
Joel Boyarsky	Chairman of board;ceo	1 Dec 1999	Other	2067640
Steven Charles Baum	Shareholder	1 Dec 1999	Other	4722128
Stephen Jay Shorrock	Director	1 Dec 1999	Other	3220321
Bankers Life Insurance Co. Of New York	Shareholder	1 Dec 1999	Other	13-1970218
Edward Joseph O'malley	Coo/cio	1 Dec 1999	Other	4722122
Neil Wesley Boyarsky	Executive vice president/director	1 Dec 2004	Other	2805573
P.C. Mahoney Cohen & Company Cpa	Shareholder	1 Jan 2005	Other	13-28006641
Mahoney Cohen & Co. Asset Advisors Llc	Shareholder	1 Jan 2005	Other	20-1824794
Bruce Howard Shapiro	Coo/cio/chief compliance officer	1 Sep 2011	Other	1144650
William Hartstein	Financial officer	1 Jan 2017	Other	6895662

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Indianapolis Life Group Of Companies	Shareholder	1 Dec 1999	75% - 100%	35-1921931
Indianapolis Life	Shareholder	1 Dec 1999	50% - 75%	35-0413330
Amerus	Shareholder	1 Dec 1999	25% - 50%	42-1458424

Based in Lynbrook

The principal office where Accountants Proprietary Financial Servicenet, Inc. performs its advisory services is located at 211 Broadway, Lynbrook, NY 11563, 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 516-887-4433 or by fax 516-887-1470. The normal business hours are 9:00 a.m.-5:00 p.m. on Monday - Friday.