Sky Investment Group LLC (Hartford)

Name: Sky Investment Group LLC
Address: One Financial Plaza, Hartford, CT, 06103
Telephone: 860-761-9700

Sky Investment Group LLC is a large advisory firm based in Hartford. It manages $416.77 million of regulatory assets for 589 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Connecticut, Florida, Texas, and Vermont.

Sky Investment Group provides portfolio management for individuals and small businesses and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Sky Investment Group: assets under management

The assets under management (AUM) of Sky Investment Group LLC is $416.77 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 372% since the beginning of its operation, and $3.11 million of the total AUM is attributable to clients outside of the United States.

The firm manages $416.77 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $707.59 thousand each.

Sky Investment Group has custody of $32.82 million in cash and securities for 9 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is state and local bonds, which make up 17% of the firm’s portfolio. Investments in investment grade corporate bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Sky Investment Group LLC for their services and products based on a percentage of assets under management. 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 Robert James Bingham serves?

The only and largest group of clients of Robert James Bingham is high net worth individuals with 254 clients and $416.77 million of assets under management. Among the 9 most similar advisory firms, Sky Investment Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $416.77 million for 254 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.

Sky Investment Group doesn't advise any private funds.

Careers at Sky Investment Group 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. 5 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.

Robert James Bingham has been acting as President since 1 Mar 2005. John Pardee Wright joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Henry Newman	Chief compliance officer/cfo	1 Jan 2005	Other	4903870
William Newman	Managing member	1 Jan 2005	75% - 100%	4903870
Robert James Bingham	President	1 Mar 2005	75% - 100%	1417739
Peter Farnum Culver	Managing director	1 Mar 2005	25% - 50%	4701690
John Pardee Wright	Member	1 Jan 2009	Other	1303373

Based in Hartford

The principal office where Sky Investment Group LLC performs its advisory services is located at One Financial Plaza, Hartford, CT 06103, 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 860-761-9700 or by fax 860-761-9797. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at skyig.com.