The Mustico Financial Group, Inc. (Elmira)

Name: The Mustico Financial Group, Inc.
Address: 221 West Church St., Elmira, NY, 14901
Telephone: 607-733-7935

The Mustico Financial Group, Inc. is a large advisory firm based in Elmira. It manages $127.9 million of regulatory assets for 350 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Florida, New York, and Pennsylvania.

The Mustico Financial Group provides financial planning services, portfolio management for individuals and small businesses, and portfolio monitoring and consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

The Mustico Financial Group: assets under management

The assets under management (AUM) of The Mustico Financial Group, Inc. is $127.9 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 235% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $127.9 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $365.43 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 78% 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 The Mustico Financial Group, Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 The Mustico Financial Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of The Mustico Financial Group is high net worth individuals with 40 clients and $64 million of assets under management. Among the 10 most similar advisory firms, The Mustico Financial Group has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $127 million for 340 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.

The Mustico Financial Group doesn't advise any private funds.

Careers at The Mustico Financial Group, Inc.

The company employs 3 people that are either part- or full-time employees. 100 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 4 people 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael William Mustico	President / chief compliance officer	1 May 2002	75% - 100%	3182926

Based in Elmira

The principal office where The Mustico Financial Group, Inc. performs its advisory services is located at 221 West Church St., Elmira, NY 14901, 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 607-733-7935 or by fax 607-271-9736. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at musticofinancial.com.