Burns Matteson Capital Management, LLC (Corning)

Name: Burns Matteson Capital Management, LLC
Address: 42 E. Market St., Corning, NY, 14830
Telephone: 607-937-9282

Burns Matteson Capital Management, LLC is a large advisory firm based in Corning. It manages $221.59 million of regulatory assets for 956 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Michigan, New Jersey, and 4 other states.

Burns Matteson Capital Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Burns Matteson Capital Management: assets under management

The assets under management (AUM) of Burns Matteson Capital Management, LLC is $221.59 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 10% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $221.59 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $231.79 thousand each.

Burns Matteson Capital Management has custody of $49.89 million in cash and securities for 88 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 70% of the total AUM. The second-largest asset type is exchange traded securities, which make up 20% 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 Burns Matteson Capital Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Burns Matteson Capital Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Burns Matteson Capital Management is high net worth individuals with 74 clients and $192.26 million of assets under management. Among the 10 most similar advisory firms, Burns Matteson Capital Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $218.19 million for 191 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.

Burns Matteson Capital Management doesn't advise any private funds.

Careers at Burns Matteson Capital Management, LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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
William Barnum Burns	President & chief compliance officer	1 Dec 2000	75% - 100%	2269169
Donna J. Burns	Llc member	1 Aug 2005	Other	5073582

Based in Corning

The principal office where Burns Matteson Capital Management, LLC performs its advisory services is located at 42 E. Market St., Corning, NY 14830, 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 607-937-9282 or by fax 607-937-9280. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at burnsmatteson.com.