Rich Advisory Corp (Plainview)

Rich Advisory Corp is a mid-sized advisory firm based in Plainview. It manages $66.61 million of regulatory assets for 207 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida, New Jersey, and New York.

Rich Advisory Corp 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.

Rich Advisory Corp: assets under management

The assets under management (AUM) of Rich Advisory Corp is $66.61 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 111% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $66.61 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $321.8 thousand each.

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 other assets, which make up 15% of the firm’s portfolio. Investments in exchange traded securities form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Rich Advisory Corp for their services and products based on a percentage of assets under management and hourly charges. 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 Andrew Michael Rich serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Andrew Michael Rich is individuals with 76 clients and $34.23 million of assets under management. Among the 3 most similar advisory firms, Rich Advisory Corp has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $66.61 million for 97 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.

Rich Advisory Corp doesn't advise any private funds.

Careers at Rich Advisory Corp

The company employs 3 people that are either part- or full-time employees. 67 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Andrew Michael Rich	President/chief compliance officer	1 Nov 1994	75% - 100%	873424

Based in Plainview

The principal office where Rich Advisory Corp performs its advisory services is located at 130 Northern Parkway West, Plainview, NY 11803 1900, 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 516-433-0828 or by fax [516]433-1362. The normal business hours are 8 a.m to 4 p.m. on Monday - Friday.