Wny Asset Management, LLC (Williamsville)

Name: Wny Asset Management, LLC
Address: 6500 Sheridan Drive, Suite 200, Williamsville, NY, 14221
Telephone: 716-626-0060

Wny Asset Management, LLC is a large advisory firm based in Williamsville. It manages $673.67 million of regulatory assets for 2,625 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Colorado, and 8 other states.

Wny Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and educational seminars and workshops. It prepares financial plans for approximately 2,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wny Asset Management: assets under management

The assets under management (AUM) of Wny Asset Management, LLC is $673.67 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 2306% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $673.67 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $256.64 thousand each.

Wny Asset Management has custody of $457.74 million in cash and securities for 2,801 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 80% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wny Asset Management, LLC 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 Wny Asset Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Wny Asset Management is individuals with 2,402 clients and $479.92 million of assets under management. Among the 9 most similar advisory firms, Wny Asset Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $673.67 million for 2,525 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.

Wny Asset Management doesn't advise any private funds.

Careers at Wny Asset Management, LLC

The company employs 19 people that are either part- or full-time employees. 58 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There are 51 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Anthony Pieroni	Managing member/chief compliance officer	1 May 2010	50% - 75%	3027420
Robert A. Castiglione	Member	1 May 2010	25% - 50%	2909739
Thomas Scott Duerr	Managing member	1 May 2010	50% - 75%	2780512
Robert A Castiglione	Member/chief compliance officer	1 May 2010	Other	2909739
Robert A. (Mi Only) Castiglione	Member/chief compliance officer	1 May 2010	Other	2909739
Ronald Marc Lojacono	Member	1 May 2011	Other	2140646
Tina Marie Harman	Chief financial officer	1 Feb 2019	Other	7066808

Based in Williamsville

The principal office where Wny Asset Management, LLC performs its advisory services is located at 6500 Sheridan Drive, Suite 200, Williamsville, NY 14221, which is also the mailing address of the firm. An additional office of the firm is in Amherst, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 716-626-0060 or by fax 716-635-0958. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at cpafinancialnetwork.com.