Joseph P. Lucia & Associates, LLC (Yorktown Heights)

Name: Joseph P. Lucia & Associates, LLC
Address: 3505 Hill Blvd., Yorktown Heights, NY, 10598
Telephone: 914-352-6600

Joseph P. Lucia & Associates, LLC is a large advisory firm based in Yorktown Heights. It manages $137.45 million of regulatory assets for 1,608 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Connecticut, Florida, New Jersey, New York, and Texas.

Joseph P. Lucia & Associates provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Joseph P. Lucia & Associates: assets under management

The assets under management (AUM) of Joseph P. Lucia & Associates, LLC is $137.45 million. The firm's AUM has grown by 222% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $100.29 million in discretionary accounts and $37.16 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $109.13 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $53.93 thousand.

Joseph P. Lucia & Associates has custody of $91.07 million in cash and securities for 281 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 75% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 11% of the firm’s portfolio. Investments in exchange traded securities form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Joseph P. Lucia & Associates, LLC for their services and products based on a percentage of assets under management 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 Joseph P. Lucia & Associates serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Joseph P. Lucia & Associates is individuals with 672 clients and $78.88 million of assets under management. Among the 9 most similar advisory firms, Joseph P. Lucia & Associates has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $137.45 million for 705 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.

Joseph P. Lucia & Associates doesn't advise any private funds.

Careers at Joseph P. Lucia & Associates, LLC

The company employs 6 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Joseph Paul Lucia	Managing principal/chief compliance officer	1 Jul 2008	75% - 100%	4428262

Based in Yorktown Heights

The principal office where Joseph P. Lucia & Associates, LLC performs its advisory services is located at 3505 Hill Blvd., Yorktown Heights, NY 10598, which is also the mailing address of the firm. An additional office of the firm is in Harrison, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 914-352-6600 or by fax 914-352-6601. 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 luciaandassociates.net/.