Schechter Investment Advisors, LLC (Birmingham)

Name: Schechter Investment Advisors, LLC
Address: 251 Pierce Street, Birmingham, MI, 48009
Telephone: 248-731-9500

Schechter Investment Advisors, LLC is a large advisory firm based in Birmingham. It manages $850.69 million of regulatory assets for 811 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Florida, Illinois, and 3 other states.

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

Schechter Investment Advisors: assets under management

The assets under management (AUM) of Schechter Investment Advisors, LLC is $850.69 million. The firm's AUM has grown by 66% since the beginning of its operation, and $10.65 million of the total AUM is attributable to clients outside of the United States.

The firm manages $645.08 million in discretionary accounts and $205.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $930.85 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.74 million.

Investments

The firm invests in exchange traded securities the most. They account for 54% of the total AUM. The second-largest asset type is investment and business development companies, which make up 26% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Schechter Investment Advisors, LLC for their services and products based on a percentage of assets under management 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 Schechter Investment Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Schechter Investment Advisors is high net worth individuals with 172 clients and $830.9 million of assets under management. Among the 6 most similar advisory firms, Schechter Investment Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $850.69 million for 199 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.

Schechter Investment Advisors doesn't advise any private funds.

Careers at Schechter Investment Advisors, LLC

The company employs 13 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jason Reed Zimmerman	Member	1 Oct 2013	50% - 75%	2672423
Marc Rodney Schechter	Member	1 Oct 2013	50% - 75%	5837026
Bernard Steven Kent	Chief compliance officer	1 Jan 2014	Other	2665636
John Edward Stein	Ceo, cio	1 Jan 2014	Other	2991314
Aaron John Hodari	Managing director	1 Sep 2016	Other	5552109
Eric Paul Donofrio	Chief compliance officer	1 Jan 2019	Other	7092282

Based in Birmingham

The principal office where Schechter Investment Advisors, LLC performs its advisory services is located at 251 Pierce Street, Birmingham, MI 48009, 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 248-731-9500 or by fax 248-731-9570. The normal business hours are 8:30 - 5:30 on Monday - Friday. You can find more information about the New York firm at schechterinvestments.com.