Mjp Associates, Inc. (Farmington)

Name: Mjp Associates, Inc.
Address: 790 Farmington Ave., Bldg 3 E, Farmington, CT, 06032
Telephone: 860-677-7755

Mjp Associates, Inc. is a large advisory firm based in Farmington. It manages $467.6 million of regulatory assets for 1,324 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Connecticut, Florida, and 13 other states.

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

Mjp Associates: assets under management

The assets under management (AUM) of Mjp Associates, Inc. is $467.6 million. The firm's AUM has grown by 953% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $448.39 million in discretionary accounts and $19.21 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $368.14 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $181.22 thousand.

Mjp Associates has custody of $240.54 million in cash and securities for 420 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 60% of the total AUM. The second-largest asset type is exchange traded securities, which make up 32% 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 Mjp Associates, Inc. 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 Mjp Associates serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Mjp Associates is high net worth individuals with 114 clients and $247.48 million of assets under management. Among the 9 most similar advisory firms, Mjp Associates has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $467.6 million for 1,324 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.

Mjp Associates doesn't advise any private funds.

Careers at Mjp Associates, Inc.

The company employs 10 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 10 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Mjp Associates, Inc. is owned by Morton Jay Potoff. Brian Hugh Vendig joined the executive team most recently as the President And Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Morton Jay Potoff	Owner	1 Mar 1981	75% - 100%	366337
Louis Green	Secretary	1 Jan 2002	Other	1518547
Louis Greene	Secretary	1 Jan 2002	Other	1518547
Krista Ann Hilbie	Chief compliance officer	1 Oct 2004	Other	1712680
Krista Ann Hilbie	Chief compliance officer	1 Oct 2005	Other	1712680
Morton Jay Potoff	Chief compliance officer	1 May 2008	75% - 100%	366337
Brian Hugh Vendig	Vice president	1 Aug 2011	Other	5964397
Brian Hugh Vendig	President and chief compliance officer	1 Apr 2014	50% - 75%	5964397
Michele Ann Vendig	Vice president and treasurer	1 Apr 2014	50% - 75%	4147218

Based in Farmington

The principal office where Mjp Associates, Inc. performs its advisory services is located at 790 Farmington Ave., Bldg 3 E, Farmington, CT 06032, which is also the mailing address of the firm. An additional office of the firm is in Longboat Key, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 860-677-7755 or by fax 860-674-9336. The normal business hours are 8:30am - 5:00pm est on Monday - Friday. You can find more information about the New York firm at mjpassociates.com.