Westco Advisory Services, Inc. (Lynbrook)

Name: Westco Advisory Services, Inc.
Address: 77 Hempstead Ave, Lynbrook, NY, 11563
Telephone: 516-593-5070

Westco Advisory Services, Inc. is a large advisory firm based in Lynbrook. It manages $132.47 million of regulatory assets for 777 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Connecticut, Florida, and New York.

Westco Advisory Services 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.

Westco Advisory Services: assets under management

The assets under management (AUM) of Westco Advisory Services, Inc. is $132.47 million. The firm's AUM has grown by 314% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $129.54 million in discretionary accounts and $2.93 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $169.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $208.95 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 83% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 10% of the firm’s portfolio. Investments in investment and business development companies form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Westco Advisory Services, Inc. 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 James Gerard Westmacott serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of James Gerard Westmacott is individuals with 251 clients and $66.82 million of assets under management. Among the 7 most similar advisory firms, Westco Advisory Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $132.47 million for 288 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.

Westco Advisory Services doesn't advise any private funds.

Careers at Westco Advisory Services, Inc.

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 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.

James Gerard Westmacott has been acting as President since 1 May 1995. Barbara Diane Fulcher joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Gerard Westmacott	President	1 May 1995	75% - 100%	1252665
Barbara Diane Fulcher	Chief compliance officer	1 May 1995	Other	1804755

Based in Lynbrook

The principal office where Westco Advisory Services, Inc. performs its advisory services is located at 77 Hempstead Ave, Lynbrook, NY 11563, 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 516-593-5070 or by fax 516-593-8152. The normal business hours are 9:00am-5:pm on Monday - Friday. You can find more information about the New York firm at westcofinancialgroup.com.