Aug, Inc. (Lancaster)

Name: Aug, Inc.
Address: 26 W. Orange Street, Lancaster, PA, 17603
Telephone: 717-299-4423

Aug, Inc. is a large advisory firm based in Lancaster. It manages $232 million of regulatory assets for 94 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of California, New Jersey, North Carolina, and Pennsylvania.

Aug 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.

Aug: assets under management

The assets under management (AUM) of Aug, Inc. is $232 million. The firm's AUM has grown by 664% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $212 million in discretionary accounts and $20 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.52 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2 million.

Investments

The firm invests in state and local bonds the most. They account for 39% of the total AUM. The second-largest asset type is investment and business development companies, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Aug, Inc. for their services and products based on a percentage of assets under management, hourly charges, 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 Jr. Donald Richard Gross serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Jr. Donald Richard Gross is high net worth individuals with 7 clients and $100 million of assets under management. Among the 8 most similar advisory firms, Aug has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $232 million for 94 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.

Aug doesn't advise any private funds.

Careers at Aug, Inc.

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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.

Jr. Donald Richard Gross has been acting as President since 1 Apr 1984. Kathie Lischick joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jr. Donald Richard Gross	President/chief compliance officer	1 Apr 1984	75% - 100%	4580859
Jr. Donald R. Gross	President	1 Apr 1984	50% - 75%	4580859
Donald R. Gross	Shareholder	1 Dec 1987	Other	4580863
Donald Richard Gross	Shareholder	1 Dec 1987	Other	4580863
Mary Theresa Cicero	Shareholder	1 May 1988	Other	4580869
Inc. Aug	Corporation	1 Jun 1988	50% - 75%	121448
Jr. Donald R. Gross	Chief compliance officer	1 Oct 2004	50% - 75%	4580859
Fran Gross	Shareholder	1 Dec 2007	Other	6041174
Kathie Lischick	Shareholder	1 Dec 2011	Other	6041213
Bill Gross	Shareholder	1 Dec 2011	Other	6041214

Based in Lancaster

The principal office where Aug, Inc. performs its advisory services is located at 26 W. Orange Street, Lancaster, PA 17603, 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 717-299-4423 or by fax 717-299-4402. The normal business hours are 9:00-5:00 on Monday - Friday. You can find more information about the New York firm at gross-investments.com.