Ancora Family Wealth Advisors, LLC (Cleveland)

Name: Ancora Family Wealth Advisors, LLC
Address: 6060 Parkland Boulevard, Cleveland, OH, 44124
Telephone: 216-825-4000

Ancora Family Wealth Advisors, LLC is a large advisory firm based in Cleveland. It manages $1.31 billion of regulatory assets for 2,254 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Arizona, California, Colorado, and 22 other states.

Ancora Family Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Ancora Family Wealth Advisors: assets under management

The assets under management (AUM) of Ancora Family Wealth Advisors, LLC is $1.31 billion. The firm's AUM has grown by 1% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.3 billion in discretionary accounts and $6.82 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $577.68 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.27 million.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is investment and business development companies, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ancora Family Wealth Advisors, LLC 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 Richard Beck Renner serves?

The firm provides services to charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Beck Renner is high net worth individuals with 2,151 clients and $1.18 billion of assets under management. Among the 9 most similar advisory firms, Ancora Family Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.31 billion for 2,254 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.

Ancora Family Wealth Advisors doesn't advise any private funds.

Careers at Ancora Family Wealth Advisors, LLC

The company employs 40 people that are either part- or full-time employees. 70 percent of the employees work as investment advisers or researchers. 21 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Richard Beck Renner has been acting as President since 1 Jan 2003. John Pewters Micklitsch has served as the Chief Investment Officer since 1 Dec 2015. Kim Lemar Oeder joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard Beck Renner	President	1 Jan 2003	Other	1553346
Bradley Alan Zucker	Chief financial officer	1 Jan 2003	Other	4458446
Inverness Holdings Llc	Holding company	1 Sep 2009	75% - 100%	26-3839307
Howard Scott Essner	General counsel	1 Dec 2015	Other	5763274
Frederick David Disanto	Chairman & chief executive officer	1 Dec 2015	Other	1467798
John Pewters Micklitsch	Chief investment officer	1 Dec 2015	Other	2454497
Jason P Geers	Director of compliance	1 Jun 2016	Other	3236753
Joseph Michael Spidalieri	Chief operating officer	1 Mar 2017	Other	4419389
Kim Lemar Oeder	Chief compliance officer	1 Feb 2018	Other	2668619

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Ancora Holdings	Owner	1 Dec 2015	75% - 100%	81-0971177

Based in Cleveland

The principal office where Ancora Family Wealth Advisors, LLC performs its advisory services is located at 6060 Parkland Boulevard, Cleveland, OH 44124, which is also the mailing address of the firm. An additional office of the firm is in Bloomfield Hills, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 216-825-4000 or by fax 216-825-4010. The normal business hours are 8-6 pm on Monday - Friday. You can find more information about the New York firm at invernesswealth.com.