Elias Asset Management Inc (Williamsville)


Elias Asset Management Inc is a large advisory firm based in Williamsville. It manages $515.08 million of regulatory assets for 641 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Connecticut, Florida, and 11 other states.

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

Elias Asset Management: assets under management

The assets under management (AUM) of Elias Asset Management Inc is $515.08 million. The firm's AUM has gone down by -41% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $315.08 million in discretionary accounts and $200 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $492.31 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $200 million.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Elias Asset Management Inc 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.

Careers at Elias Asset Management Inc

David Joseph Elias has been acting as President since 1 Dec 1978. Lawrence Vernon Whistler joined the executive team most recently as the Vice President Cio.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
David Joseph Elias President 1 Dec 1978 Other 601972
Thomas Stephen Quealy Vice-president 1 Mar 1989 Other 1932474
Barbara V Elias Vice-president 1 Apr 1990 Other 2103356
Inc. Community Bank Systems Bank 1 Apr 2000 75% - 100% 16-0436580
David Joseph Elias Ceo, chief investment ofr 1 Jan 2004 Other 601972
Thomas Stephen Quealy President 1 Jan 2004 Other 1932474
Kathleen Elizabeth Strohmeyer Chief compliance officer 1 Oct 2004 Other 1033694
Nicholas Verbanic Vice-president 1 Jan 2005 Other 2229305
Lawrence Vernon Whistler Vice-president cio 1 Jun 2006 Other 2514595

Based in Williamsville

The principal office where Elias Asset Management Inc performs its advisory services is located at 500 Essjay Rd., Ste 220, Williamsville, NY 14221, 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 716-633-3800 or by fax 716-633-3810. 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 www.eliasasset.com.