Abernathy Group Ii LLC (New York)


Abernathy Group Ii LLC is a mid-sized advisory firm based in New York. It manages $64.51 million of regulatory assets for 27 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, New York, Oregon, Pennsylvania, and Texas.

Abernathy Group Ii provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, and business advisory services. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Abernathy Group Ii: assets under management

The assets under management (AUM) of Abernathy Group Ii LLC is $64.51 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 139% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $64.51 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.39 million each.
Abernathy Group Ii has custody of $7.66 million in cash and securities for 1 client 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 61% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Abernathy Group Ii LLC for their services and products based on a percentage of assets under management, hourly charges, and performance-based 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 Abernathy Group Ii serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Abernathy Group Ii is high net worth individuals with 19 clients and $50.18 million of assets under management. Among the 4 most similar advisory firms, Abernathy Group Ii has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $64.51 million for 28 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.

Abernathy Group Ii also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Abernathy Group Ii LLC

The company employs 3 people that are either part- or full-time employees. 33 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
Thurgood Marshall Memorial Holding Llc Managing member 1 Dec 2009 75% - 100% 27-1228863
Edward Francis Coyle Chief compliance officer 1 Dec 2009 Other 1257412
Buxton Capital Partners Owner 1 Dec 2009 50% - 75% 61-1581224

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
Steven Holt Abernathy Managing member 1 Oct 2009 75% - 100% 1276378
Brian David Luster Managing member 1 Oct 2009 Other 5065637
Quintano Delbradley Downes Owner 1 Dec 2009 50% - 75% 3038351
Henry Lawrence Avery Owner 1 Dec 2009 50% - 75% 5717633
Russell D Rivera Owner 1 Dec 2009 Other 3252937

Based in New York

The principal office where Abernathy Group Ii LLC performs its advisory services is located at 530 Fifth Avenue, New York, NY 10036, 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 212-293-3499 or by fax 917 398-1689. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at abbygroup.com.