Grubman Wealth Management (Berkeley)

Name: Grubman Wealth Management
Address: 2040 Bancroft Way, Berkeley, CA, 94704
Telephone: 510-883-1350

Grubman Wealth Management is a large advisory firm based in Berkeley. It manages $374.04 million of regulatory assets for 669 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California and New York.

Grubman Wealth Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Grubman Wealth Management: assets under management

The assets under management (AUM) of Grubman Wealth Management is $374.04 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 107% since the beginning of its operation, and $9.11 million of the total AUM is attributable to clients outside of the United States.

The firm manages $374.04 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $559.1 thousand each.

Grubman Wealth Management has custody of $140.05 million in cash and securities for 59 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 55% of the total AUM. The second-largest asset type is exchange traded securities, which make up 40% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Grubman Wealth Management 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 Audrey Ellen Grubman serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Audrey Ellen Grubman is high net worth individuals with 125 clients and $354.96 million of assets under management. Among the 9 most similar advisory firms, Grubman Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $372.14 million for 154 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Grubman Wealth Management doesn't advise any private funds.

Careers at Grubman Wealth Management

The company employs 8 people that are either part- or full-time employees. 25 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Audrey Ellen Grubman has been acting as President since 1 Mar 1996. Inc. Grubman Mangement joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Audrey Grubman	President & chief compliance officer	1 Mar 1996	75% - 100%	2766919
Audrey Ellen Grubman	President	1 Mar 1996	75% - 100%	2766919
Jill Louise Martin	Chief operations officer	1 Mar 2016	Other	6662880
Jill Louise Martin	Chief operations officer and chief compliance officer	1 Mar 2018	Other	6662880
Inc. Grubman Mangement	Owner	1 Jul 2018	75% - 100%	94-1234567

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Audrey Ellen Grubman	Sole owner	1 Jul 2018	75% - 100%	2766919

Based in Berkeley

The principal office where Grubman Wealth Management performs its advisory services is located at 2040 Bancroft Way, Berkeley, CA 94704, 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 510-883-1350 or by fax 510-548-3148. 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 grubmanwm.com.