Hnp Capital LLC (Rochester)

Name: Hnp Capital LLC
Address: 100 Chestnut St., 15 Th Floor, Rochester, NY, 14607
Telephone: 585-461-6085

Hnp Capital LLC is a large advisory firm based in Rochester. It manages $349.86 million of regulatory assets for 711 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Florida, New York, Pennsylvania, and Texas.

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

Hnp Capital: assets under management

The assets under management (AUM) of Hnp Capital LLC is $349.86 million. The firm's AUM has grown by 1288% since the beginning of its operation, and $375.5 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $297.13 million in discretionary accounts and $52.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $460.67 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $798.98 thousand.

Hnp Capital has custody of $81.37 million in cash and securities for 157 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 64% of the total AUM. The second-largest asset type is exchange traded securities, which make up 18% of the firm’s portfolio. Investments in investment grade corporate bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hnp Capital LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Hnp Capital 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 Hnp Capital is high net worth individuals with 56 clients and $162.09 million of assets under management. Among the 7 most similar advisory firms, Hnp Capital has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $349.86 million for 370 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.

Hnp Capital doesn't advise any private funds.

Careers at Hnp Capital LLC

The company employs 9 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 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.

Neil Jeffery Powers has served as the Chief Investment Officer since 1 Mar 2017. Inc. Financial Institutions joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Raymond Piccirilli	Member	1 Apr 2009	25% - 50%	4165901
Nicholas Timothy Norvell	Chief compliance officer	1 May 2009	Other	2577462
Robert Christopher Hobaica	Member	1 Jan 2011	25% - 50%	2737009
Nicholas Timothy Norvell	Member / chief compliance officer	1 Jul 2011	25% - 50%	2577462
Joseph Richard Rulison	Member	1 Oct 2014	Other	1046476
Neil Jeffery Powers	Chief investment officer	1 Mar 2017	Other	5062062
Rebecca Levengood Westervelt	Chief operations officer	1 Oct 2017	Other	4720706
Inc. Financial Institutions	Owner	1 Jun 2018	75% - 100%	16-0816610

Based in Rochester

The principal office where Hnp Capital LLC performs its advisory services is located at 100 Chestnut St., 15 Th Floor, Rochester, NY 14607, which is also the mailing address of the firm. An additional office of the firm is in Pittsburgh, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 585-461-6085 or by fax 877-845-5155. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at hnpcapital.com.