Kls Professional Advisors Group, LLC (New York)

Name: Kls Professional Advisors Group, LLC
Address: 1325 Avenue Of The Americas, New York, NY, 10019
Telephone: 212-355-0346

Kls Professional Advisors Group, LLC is a large advisory firm based in New York. It manages $5.85 billion of regulatory assets for 8,729 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Colorado, Connecticut, and 15 other states.

Kls Professional Advisors Group provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Kls Professional Advisors Group: assets under management

The assets under management (AUM) of Kls Professional Advisors Group, LLC is $5.85 billion. The firm's AUM has grown by 107% since the beginning of its operation, and $176.99 million of the total AUM is attributable to clients outside of the United States.

The firm manages $5.34 billion in discretionary accounts and $512.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $918.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $175.44 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 83% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 7% of the firm’s portfolio. Investments in state and local bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kls Professional Advisors Group, LLC for their services and products based on 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 Carlton Barry Klapper serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Carlton Barry Klapper is high net worth individuals with 754 clients and $5.73 billion of assets under management. Among the 10 most similar advisory firms, Kls Professional Advisors Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $5.85 billion for 967 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Kls Professional Advisors Group doesn't advise any private funds.

Careers at Kls Professional Advisors Group, LLC

The company employs 55 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 7 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.

Carlton Barry Klapper has been acting as President since 1 Nov 2004. Steven Michael Gaven joined the executive team most recently as the Board Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Carlton Barry Klapper	Director	1 Nov 2004	Other	1385084
Arthur Neal Langhaus	Chief financial officer	1 Nov 2004	Other	1971873
Robert Michael Schorr	Chief executive officer	1 Nov 2004	Other	1385082
Kls Professional Advisors Group Inc	Managing member	1 Nov 2004	75% - 100%	105122
Inc. Kls Advisors Holdings	Member	1 Nov 2004	Other	11-2939855
Alan Joseph Brod	Managing director; director	1 Nov 2004	Other	2155192
Inc. Boston Private Financial Holdings	Managing member	1 Dec 2004	75% - 100%	04-2976299
Walter Pressey	Director	1 Dec 2004	Other	4355563
Joseph Henry Cromarty	Director	1 Dec 2004	Other	2351673
Margaret Warner Chambers	Director	1 Apr 2006	Other	3047999
Margaret Warner Chambers	Director	1 Jan 2009	Other	3047999
Gary Peter Sica	Managing director	1 Jan 2009	Other	6296159
Clayton George Deutsch	Director	1 Oct 2010	Other	5860322
Gary Peter Sica	Chief operating officer	1 Jan 2014	Other	6296159
Steven Scott Goldstein	Chief compliance officer	1 Dec 2014	Other	2293235
Gary Peter Sica	Chief executive officer	1 Mar 2016	Other	6296159
Margaret Warner Chambers	Chief compliance officer	1 Aug 2016	Other	3047999
Georgia Mari Pangle	Board member	1 Sep 2016	Other	6397631
Sean Casey	Chief compliance officer	1 Feb 2017	Other	4070866
Steven Michael Gaven	Board member	1 Jan 2019	Other	5855690
Anthony Dechellis	Board member	1 Jan 2019	Other	1342685

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Carlton Barry Klapper	Owner	1 Mar 1989	25% - 50%	1385084
Arthur Neal Langhaus	Owner	1 Mar 1989	25% - 50%	1971873
Robert Michael Schorr	Owner	1 Mar 1989	25% - 50%	1385082

Based in New York

The principal office where Kls Professional Advisors Group, LLC performs its advisory services is located at 1325 Avenue Of The Americas, New York, NY 10019, which is also the mailing address of the firm. An additional office of the firm is in Los Angeles, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-355-0346 or by fax 212-355-0413. The normal business hours are 9 a.m. to 5:30 pm on Monday - Friday. You can find more information about the New York firm at klsadvisors.com.