Sherman & Armbruster, Inc. (Greenwood)


Sherman & Armbruster, Inc. is a large advisory firm based in Greenwood. It manages $243.56 million of regulatory assets for 978 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Florida, Indiana, Ohio, and Texas.

Sherman & Armbruster 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 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sherman & Armbruster: assets under management

The assets under management (AUM) of Sherman & Armbruster, Inc. is $243.56 million. The firm's AUM has grown by 128% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $218.35 million in discretionary accounts and $25.22 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $230.08 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $869.53 thousand.
Sherman & Armbruster has custody of $65.45 million in cash and securities for 113 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 82% 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 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sherman & Armbruster, Inc. 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 Sherman & Armbruster serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Sherman & Armbruster is high net worth individuals with 61 clients and $141.31 million of assets under management. Among the 9 most similar advisory firms, Sherman & Armbruster has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $217.28 million for 311 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.

Sherman & Armbruster doesn't advise any private funds.

Careers at Sherman & Armbruster, Inc.

The company employs 6 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 4 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.

Timothy Eugene Voegele has served as the Chief Investment Officer since 1 Nov 2016. Stephanie Lynn Willison joined the executive team most recently as the Principal.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Martin Joseph Armbruster Chief compliance officer, president 1 Dec 2002 25% - 50% 1068568
Patrick Anthony Sherman Secretary 1 Dec 2002 25% - 50% 4615706
John David Grant Treasurer 1 Dec 2002 Other 4615707
Stephanie Lynn Willison Principal 1 Dec 2010 Other 4619809
Timothy Eugene Voegele Chief investment officer 1 Nov 2016 Other 5529752

Based in Greenwood

The principal office where Sherman & Armbruster, Inc. performs its advisory services is located at 609 Treybourne Dr. Suite B, Greenwood, IN 46142, 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 317-449-2040 or by fax 317-667-1452. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at treybournewealth.com.