Lipper Advisory Services Inc (Summit)

Lipper Advisory Services Inc is a large advisory firm based in Summit. It manages $102.39 million of regulatory assets for 29 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Delaware, Florida, and New Jersey.

Lipper Advisory Services provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, 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.

Lipper Advisory Services: assets under management

The assets under management (AUM) of Lipper Advisory Services Inc is $102.39 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -92% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $102.39 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.53 million each.

Lipper Advisory Services has custody of $22.73 million in cash and securities for 1 client 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 55% of the total AUM. The second-largest asset type is exchange traded securities, which make up 15% of the firm’s portfolio. Investments in government bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lipper Advisory Services Inc for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients A Michael Lipper serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of A Michael Lipper is high net worth individuals with 5 clients and $53.61 million of assets under management. Among the 7 most similar advisory firms, Lipper Advisory Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $102.39 million for 24 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.

Lipper Advisory Services also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Lipper Advisory Services 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. 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.

A Michael Lipper has been acting as President since 1 Dec 1981. Joseph Robert Evancho joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
A Michael Lipper	President/sole director	1 Dec 1981	75% - 100%	310482
Ruth Clare Lipper	Secretary/treasurer	1 Jul 1991	Other	4356703
Maureen Busby Oster	Vice president	1 May 1999	Other	1560361
William Hugh Braun	Chief compliance officer	1 Nov 2009	Other	1600422
William H. Braun	Chief compliance officer	1 Nov 2009	Other	1600422
Seanpatrick Walsh	Senior operations analyst - cco	1 Nov 2012	50% - 75%	4083324
Sean Walsh	Senior operations analyst - cco	1 Nov 2012	50% - 75%	4083324
Daniel Peter Church	Chief compliance officer	1 Jun 2014	Other	5649239
Hylton Hudson Phillips Page	Vice president	1 Mar 2015	Other	1247830
Joseph Robert Evancho	Chief compliance officer	1 Jan 2016	Other	6626721

Based in Summit

The principal office where Lipper Advisory Services Inc performs its advisory services is located at 85 Hobart Avenue, Summit, NJ 07901, which is also the mailing address of the firm. An additional office of the firm is in Plantation, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (908) 273-2454 or by fax (908) 273-8231. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday.