Mwm Group LLC (Monsey)

Mwm Group LLC is a large advisory firm based in Monsey. It manages $143.38 million of regulatory assets for 471 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of New Jersey and New York.

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

Mwm Group: assets under management

The assets under management (AUM) of Mwm Group LLC is $143.38 million. The firm's AUM has grown by 186% since the beginning of its operation, and $2.5 million of the total AUM is attributable to clients outside of the United States.

The firm manages $134.36 million in discretionary accounts and $9.02 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $329.31 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $143.16 thousand.

Mwm Group has custody of $11 million in cash and securities for 40 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 78% of the total AUM. The second-largest asset type is state and local bonds, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mwm Group LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Mwm Group serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Mwm Group is high net worth individuals with 53 clients and $107.65 million of assets under management. Among the 14 most similar advisory firms, Mwm Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $143.38 million for 135 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

Mwm Group doesn't advise any private funds.

Careers at Mwm Group LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Carey Steve Gruenbaum	Elected manager and member and chief compliance officer	1 Apr 2012	75% - 100%	2810326
Nathan Shalom Munk	Managing partner and chief compliance officer	1 Dec 2012	75% - 100%	2201850
Rachel S Munk	Managing partner	1 Dec 2012	50% - 75%	6148364
Aaron Munk	Chief compliance officer & managing partner	1 Dec 2012	50% - 75%	2421452
Baruch Munk	Managing partner	1 Mar 2015	Other	6335096
Sara E Glaz	Cco	1 Jun 2016	Other	5514854
Dubby Munk	Managing member	1 Jul 2017	25% - 50%	6840776
Jeremy Jakobovits	Managing member	1 Jul 2017	Other	6781746
William Klein	Managing member	1 Jul 2017	Other	6840781

Based in Monsey

The principal office where Mwm Group LLC performs its advisory services is located at 24 Mariner Way, Monsey, NY 10952, which is also the mailing address of the firm. An additional office of the firm is in Far Rockaway, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 718-696-4000 or by fax 718-696-4001. The normal business hours are by appointment on Monday - Friday.