United Asset Strategies Inc. (Garden City)

Name: United Asset Strategies Inc.
Address: 377 Oak Street, Garden City, NY, 11530
Telephone: 516-222-0021

United Asset Strategies Inc. is a large advisory firm based in Garden City. It manages $873 million of regulatory assets for 2,746 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Colorado, Connecticut, and 10 other states.

United Asset Strategies provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, 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.

United Asset Strategies: assets under management

The assets under management (AUM) of United Asset Strategies Inc. is $873 million. The firm's AUM has grown by 628% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $759.7 million in discretionary accounts and $113.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $380.23 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $151.47 thousand.

United Asset Strategies has custody of $2.7 thousand in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 93% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay United Asset Strategies Inc. for their services and products based on a percentage of assets under management and fixed fees. 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 Lee Delorenzo serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Lee Delorenzo is high net worth individuals with 324 clients and $532.5 million of assets under management. Among the 10 most similar advisory firms, United Asset Strategies has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $873 million for 861 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.

United Asset Strategies doesn't advise any private funds.

Careers at United Asset Strategies Inc.

The company employs 22 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 8 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Lee Delorenzo has been acting as President since 1 Apr 1992. Kathryn Payne Beller joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lee Delorenzo	President	1 Apr 1992	75% - 100%	1287449
Paul Michael Biggin	Vice president	1 Jan 2000	Other	2838366
Kathryn Payne Beller	Chief compliance officer	1 Sep 2009	Other	5072413

Based in Garden City

The principal office where United Asset Strategies Inc. performs its advisory services is located at 377 Oak Street, Garden City, NY 11530, 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 516-222-0021 or by fax 516-222-0163. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at unitedasset.com.