Personal Asset Strategies, Inc. (Westbury)

Name: Personal Asset Strategies, Inc.
Address: 1600 Stewart Avenue, Westbury, NY, 11590
Telephone: 516-248-8811

Personal Asset Strategies, Inc. is a mid-sized advisory firm based in Westbury. It manages $32.1 million of regulatory assets for 138 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Florida and New York.

Personal Asset Strategies provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Personal Asset Strategies: assets under management

The assets under management (AUM) of Personal Asset Strategies, Inc. is $32.1 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $32.1 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $232.58 thousand each.

Personal Asset Strategies has custody of $4.83 million in cash and securities for 26 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in cash and cash equivalents the most. They account for 36% of the total AUM. The second-largest asset type is exchange traded securities, which make up 32% of the firm’s portfolio. Investments in other assets form 20% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Personal Asset Strategies, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based 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 Personal Asset Strategies serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Personal Asset Strategies is high net worth individuals with 24 clients and $25.1 million of assets under management. Among the 4 most similar advisory firms, Personal Asset Strategies has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $29.11 million for 58 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.

Personal Asset Strategies doesn't advise any private funds.

Careers at Personal Asset Strategies, Inc.

The company employs 4 people that are either part- or full-time employees. 50 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
Lonnie Milder Garber	President and director	1 Apr 1991	75% - 100%	4841511
Jeffrey Bruce Garber	Chief compliance officer, secretary and director	1 Apr 1991	Other	4841517
Lonnie M Garber	President and director	1 Apr 1991	75% - 100%	4841511
Jeffrey B Garber	Secretary and director	1 Apr 1991	Other	4841517

Based in Westbury

The principal office where Personal Asset Strategies, Inc. performs its advisory services is located at 1600 Stewart Avenue, Westbury, NY 11590, which is also the mailing address of the firm. An additional office of the firm is in Boca Raton, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 516-248-8811 or by fax 516-248-1183. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at pasfinance.com.