Nardis Advisors LLC (Scarsdale)

Name: Nardis Advisors LLC
Address: 2 Overhill Road, Scarsdale, NY, 10583
Telephone: 914-997-0403

Nardis Advisors LLC is a large advisory firm based in Scarsdale. It manages $90.57 million of regulatory assets for 284 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of New Jersey, New York, and Texas.

Nardis Advisors provides portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm also engages as expert witness for law firms and consulting.

Nardis Advisors: assets under management

The assets under management (AUM) of Nardis Advisors LLC is $90.57 million. The firm's AUM has grown by 13% since the beginning of its operation, and $13.9 million of the total AUM is attributable to clients outside of the United States.

The firm manages $84.89 million in discretionary accounts and $5.68 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $302.1 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.89 million.

Investments

The firm invests in exchange traded securities the most. They account for 41% of the total AUM. The second-largest asset type is investment and business development companies, which make up 28% of the firm’s portfolio. Investments in state and local bonds form 13% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Nardis Advisors is high net worth individuals with 51 clients and $69.89 million of assets under management. Among the 11 most similar advisory firms, Nardis Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $83.73 million for 89 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 15% of the firm’s clients are foreign persons or businesses.

Nardis Advisors doesn't advise any private funds.

Careers at Nardis Advisors LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 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
Norman Harold Chait	Managing principal /chief compliance officer	1 Aug 2009	75% - 100%	5134771

Based in Scarsdale

The principal office where Nardis Advisors LLC performs its advisory services is located at 2 Overhill Road, Scarsdale, NY 10583, 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 914-997-0403 or by fax 914-358-0048. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at nardisadvisors.com.