Beacon Investment Advisory Services, Inc. (Morristown)

Name: Beacon Investment Advisory Services, Inc.
Address: 163 Madison Avenue, Morristown, NJ, 07960
Telephone: 973-377-8090

Beacon Investment Advisory Services, Inc. is a large advisory firm based in Morristown. It manages $2.96 billion of regulatory assets for 2,150 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Connecticut, Florida, and 8 other states.

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

Beacon Investment Advisory Services: assets under management

The assets under management (AUM) of Beacon Investment Advisory Services, Inc. is $2.96 billion. The firm's AUM has grown by 2260% since the beginning of its operation, and $9 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.88 billion in discretionary accounts and $87 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.43 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $621.43 thousand.

Beacon Investment Advisory Services has custody of $1.87 billion in cash and securities for 1,632 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 52% of the total AUM. The second-largest asset type is investment and business development companies, which make up 23% 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 Beacon Investment Advisory Services, Inc. for their services and products based on a percentage of assets under management 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 James Domenick Nesci serves?

The firm provides services to individuals, investment companies, charitable organizations, and high net worth individuals. The largest group of clients of James Domenick Nesci is high net worth individuals with 1,631 clients and $2.17 billion of assets under management. Among the 9 most similar advisory firms, Beacon Investment Advisory Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.93 billion for 2,148 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.

Beacon Investment Advisory Services doesn't advise any private funds.

Careers at Beacon Investment Advisory Services, Inc.

The company employs 37 people that are either part- or full-time employees. 89 percent of the employees work as investment advisers or researchers. 21 employees are registered as investment adviser representatives 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 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.

James Domenick Nesci has been acting as President since 1 Apr 2015. Valerie O Murray joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Domenick Nesci	President	1 Apr 2015	Other	2439890
Leonard George Gleason	General counsel	1 Apr 2015	Other	5971925
Michael Joseph Giannotto	Chief compliance officer	1 Apr 2015	Other	2011397
Beacon Trust Company	Owner	1 Apr 2015	75% - 100%	22-2853328
Kenneth Paul Lenskold	Chief compliance officer	1 Dec 2015	Other	1423089
Valerie O Murray	President	1 Feb 2017	Other	5530002

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
The Provident Bank	Owner	1 Aug 2011	75% - 100%	22-1211130
Inc. Provident Financial Services	Owner	1 Apr 2015	75% - 100%	42-1547151

Based in Morristown

The principal office where Beacon Investment Advisory Services, Inc. performs its advisory services is located at 163 Madison Avenue, Morristown, NJ 07960, which is also the mailing address of the firm. An additional office of the firm is in Hauppauge, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 973-377-8090. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at mdegroup.com.