Apexium Financial LP (New York)

Name: Apexium Financial LP
Address: 529 Fifth Avenue, New York, NY, 10017
Telephone: 212-697-1000 X1221

Apexium Financial LP is a large advisory firm based in New York. It manages $1.16 billion of regulatory assets for 1,776 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Connecticut, Florida, Maryland, and 6 other states.

Apexium Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Apexium Financial: assets under management

The assets under management (AUM) of Apexium Financial LP is $1.16 billion. The firm's AUM has grown by 719% since the beginning of its operation, and $125.15 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $757.93 million in discretionary accounts and $406.6 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $439.38 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.97 million.

Apexium Financial has custody of $4.2 million in cash and securities for 10 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 11% of the firm’s portfolio. Investments in investment grade corporate bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Apexium Financial LP 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 Apexium Financial serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Apexium Financial is high net worth individuals with 243 clients and $1.14 billion of assets under management. Among the 7 most similar advisory firms, Apexium Financial has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.16 billion for 409 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Apexium Financial doesn't advise any private funds.

Careers at Apexium Financial LP

The company employs 13 people that are either part- or full-time employees. 85 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
Lp Citrin Cooperman Financial Advisors	Limited partner	1 Oct 2015	50% - 75%	26-2041877
David Joseph Pilaitis	Limited partner and chief compliance officer	1 Oct 2015	Other	2829596
David Benjamin Bruckman	Limited partner	1 Oct 2015	Other	4419254
Llc Apexium Holdings	General partner	1 Oct 2015	Other	00-0000000
Matthew Anthony Marcello	Limited partner	1 Oct 2015	Other	4418159
Cory Michael Chmelka	Limited partner	1 Oct 2015	Other	4159177
Robert Thomas Brown	Limited partner	1 Oct 2015	Other	3270344
Cory Michael Chmelka	Limited partner	1 Mar 2016	Other	4159177
Matthew Anthony Marcello	Limited partner	1 Mar 2016	Other	4418159
Robert Thomas Brown	Limited partner	1 Mar 2016	Other	3270344
Cory Michael Chmelka	Limited partner	1 Apr 2016	Other	4159177
Matthew Anthony Marcello	Limited partner	1 Apr 2016	Other	4418159
Robert Thomas Brown	Limited partner	1 Apr 2016	Other	3270344

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llp Citrin Cooperman & Company	Limited partner	1 Jun 2012	75% - 100%	22-2428965
Llc Citirn Cooperman Holding Company	General partner	1 Jun 2012	Other	26-2031539
Llc Citrin Cooperman Holding Company	General partner	1 Jun 2012	Other	26-2031539

Based in New York

The principal office where Apexium Financial LP performs its advisory services is located at 529 Fifth Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Bethesda, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-697-1000 X1221 or by fax 212-697-1879. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at apexiumfin.com.