Florence Capital Advisors, LLC (New York)

Name: Florence Capital Advisors, LLC
Address: 575 Fifth Avenue, New York, NY, 10017
Telephone: (212) 202-3295

Florence Capital Advisors, LLC is a large advisory firm based in New York. It manages $292.6 million of regulatory assets for 108 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Connecticut and New York.

Florence Capital Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Florence Capital Advisors: assets under management

The assets under management (AUM) of Florence Capital Advisors, LLC is $292.6 million. The firm's AUM has grown by 24% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $148.86 million in discretionary accounts and $143.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.79 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $5.75 million.

Investments

The firm invests in exchange traded securities the most. They account for 39% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 27% of the firm’s portfolio. Investments in other assets form 24% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Florence Capital Advisors, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Florence Capital Advisors serves?

The firm provides services to high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Florence Capital Advisors is high net worth individuals with 28 clients and $277.06 million of assets under management. Among the 9 most similar advisory firms, Florence Capital Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $291.62 million for 39 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.

Florence Capital Advisors also advises several private funds. Namely, six private equity funds.

Careers at Florence Capital Advisors, LLC

The company employs 2 people that are either part- or full-time employees. 100 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.

Bryanna Catelyn Baxenden joined the executive team most recently as the Chief Compliance Officer/Director Of Operations.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Gregory Alain Hersch	Chief executive officer/managing member	1 Oct 2015	75% - 100%	3254629
Bryanna Catelyn Baxenden	Chief compliance officer/director of operations	1 Nov 2015	Other	5763580

Based in New York

The principal office where Florence Capital Advisors, LLC performs its advisory services is located at 575 Fifth Avenue, New York, NY 10017, 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 (212) 202-3295. 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 florencecapital.com/.