Sax Wealth Advisors, LLC (Clifton)

Name: Sax Wealth Advisors, LLC
Address: 855 Valley Road, Clifton, NJ, 07013
Telephone: 973-859-2199

Sax Wealth Advisors, LLC is a large advisory firm based in Clifton. It manages $853.19 million of regulatory assets for 1,867 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Connecticut, Florida, and 11 other states.

Sax Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sax Wealth Advisors: assets under management

The assets under management (AUM) of Sax Wealth Advisors, LLC is $853.19 million. The firm's AUM has grown by 45% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $818.5 million in discretionary accounts and $34.69 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $458.28 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $428.33 thousand.

Sax Wealth Advisors has custody of $218.82 million in cash and securities for 247 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 57% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 23% of the firm’s portfolio. Investments in state and local bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sax Wealth Advisors, LLC 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 Sax Wealth Advisors serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Sax Wealth Advisors is high net worth individuals with 197 clients and $572.44 million of assets under management. Among the 9 most similar advisory firms, Sax Wealth Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $853.19 million for 640 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.

Sax Wealth Advisors doesn't advise any private funds.

Careers at Sax Wealth Advisors, LLC

The company employs 8 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 8 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 compensates 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
Sax Llp	Owner	1 Feb 1999	75% - 100%	81-2950760
Michael Jesse Shenker	Principal	1 Feb 1999	Other	3069147
Kyle Robert Stawicki	Member / principal / chief compliance officer	1 Jan 2015	Other	4992104

Based in Clifton

The principal office where Sax Wealth Advisors, LLC performs its advisory services is located at 855 Valley Road, Clifton, NJ 07013, which is also the mailing address of the firm. An additional office of the firm is in Pennington, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 973-859-2199 or by fax 973-859-2166. The normal business hours are 9:00am - 5:30pm on Monday - Friday. You can find more information about the New York firm at saxwa.com.