Maloon, Powers, Pitre & Higgins, LLC (San Ramon)

Name: Maloon, Powers, Pitre & Higgins, LLC
Address: 2303 Camino Ramon, San Ramon, CA, 94583
Telephone: 925.275.1000

Maloon, Powers, Pitre & Higgins, LLC is a large advisory firm based in San Ramon. It manages $1.08 billion of regulatory assets for 2,627 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Arizona, California, Colorado, and 12 other states.

Maloon, Powers, Pitre & Higgins provides portfolio management for individuals and small businesses and consulting. It prepares financial plans for approximately 1,208 clients. On top of advisory services, the firm doesn't engage in other business activities.

Maloon, Powers, Pitre & Higgins: assets under management

The assets under management (AUM) of Maloon, Powers, Pitre & Higgins, LLC is $1.08 billion. The firm's AUM has grown by 142% since the beginning of its operation, and $2.67 million of the total AUM is attributable to clients outside of the United States.

The firm manages $736.01 million in discretionary accounts and $347.92 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $434.74 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $372.51 thousand.

Maloon, Powers, Pitre & Higgins has custody of $874.14 million in cash and securities for 1,034 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 81% 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 exchange traded securities form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Maloon, Powers, Pitre & Higgins, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Maloon, Powers, Pitre & Higgins serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Maloon, Powers, Pitre & Higgins is individuals with 1,195 clients and $1.02 billion of assets under management. Among the 10 most similar advisory firms, Maloon, Powers, Pitre & Higgins has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.08 billion for 1,208 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Maloon, Powers, Pitre & Higgins doesn't advise any private funds.

Careers at Maloon, Powers, Pitre & Higgins, 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 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
Michael Francis Maloon	Member	1 Jan 1998	25% - 50%	1707207
Mark Anthony Pitre	Member	1 Jan 1998	25% - 50%	1961152
Thomas James Powers	Member/chief compliance officer	1 Jan 1998	25% - 50%	1871442
Michelle Perry Higgins	Member	1 Jan 2000	25% - 50%	2733419

Based in San Ramon

The principal office where Maloon, Powers, Pitre & Higgins, LLC performs its advisory services is located at 2303 Camino Ramon, San Ramon, CA 94583, 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 925.275.1000 or by fax 925.275.9109. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at calfinad.com.