Altfest L J & Co Inc is a large advisory firm based in New York. It manages $1.21 billion of regulatory assets for 2,805 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Connecticut, Florida, and 11 other states.
Altfest L J & provides financial planning services, portfolio management for individuals and small businesses, and publication of newsletters. It prepares financial plans for approximately 560 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Altfest L J & Co Inc is $1.21 billion. The firm's AUM has grown by 834% since the beginning of its operation, and $4 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Altfest L J & Co 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.
The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Lewis Jay Altfest is high net worth individuals with 355 clients and $890 million of assets under management. Among the 12 most similar advisory firms, Altfest L J & has the 3rd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $1.21 billion for 599 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.
Altfest L J & also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.
The company employs 37 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.
There’s a single person 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.
Lewis Jay Altfest has been acting as President since 1 Jan 1985. Andrew Gamer Altfest joined the executive team most recently as the President.
The principal office where Altfest L J & Co Inc performs its advisory services is located at 445 Park Avenue, New York, NY 10022, 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 212-406-0850 or by fax 212-406-0867. The normal business hours are 8:30 a.m.-6:00 p.m. on Monday - Friday. You can find more information about the New York firm at altfest.com.