Williams Jones Wealth Management, LLC (New York)

Name: Williams Jones Wealth Management, LLC
Address: 717 Fifth Avenue, New York, NY, 10022
Telephone: 212-935-8750

Williams Jones Wealth Management, LLC is a large advisory firm based in New York. It manages $7.75 billion of regulatory assets for 3,838 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Alabama, Arizona, California, and 34 other states.

Williams Jones Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Williams Jones Wealth Management: assets under management

The assets under management (AUM) of Williams Jones Wealth Management, LLC is $7.75 billion. $60.11 million of the total AUM is attributable to clients outside of the United States.

The firm manages $7.7 billion in discretionary accounts and $49.55 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.04 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $774.2 thousand.

Williams Jones Wealth Management has custody of $7.75 billion in cash and securities for 3,838 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is state and local bonds, which make up 19% of the firm’s portfolio. Investments in investment and business development companies form 10% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Williams Jones Wealth Management, 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 Jr. William Pickering Jones serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Jr. William Pickering Jones is high net worth individuals with 1,204 clients and $6.75 billion of assets under management. Among the 9 most similar advisory firms, Williams Jones Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.75 billion for 1,676 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.

Williams Jones Wealth Management also advises several private funds. Namely, eleven hedge funds, two other private funds, and two venture capital funds. The minimum investment commitment required of non-related persons ranges from $5,000 to $100,000.

Careers at Williams Jones Wealth Management, LLC

The company employs 41 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 9 people 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.

Jr. William Pickering Jones has been acting as President since 1 May 2019. Jeff Schweon joined the executive team most recently as the Chief Compliance Officer, Chief Financial Officer And Chief Legal Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jeff Schweon	Chief compliance officer, chief financial officer and chief legal officer	1 May 2019	Other	4918028
Llc Focus Operating	Member (manager)	1 May 2019	75% - 100%	20-8161914
Jr. William Pickering Jones	Chairman	1 May 2019	Other	4345770
John Joseph Eager	President, treasurer and partners	1 May 2019	Other	1061657
Barbara Ann Tarmy	Partner	1 May 2019	Other	873156

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Financial Partners	Member	1 Jan 2007	75% - 100%	16-1728260
Inc. Focus Financial Partners	Member	1 Jul 2018	75% - 100%	47-4780811

Based in New York

The principal office where Williams Jones Wealth Management, LLC performs its advisory services is located at 717 Fifth Avenue, New York, NY 10022, which is also the mailing address of the firm. An additional office of the firm is in Palm Beach, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-935-8750 or by fax 212-753-3072. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at williamsjones.com and its LinkedIn profile.