Coury Firm Asset Management LLC (Pittsburgh)

Name: Coury Firm Asset Management LLC
Address: 260 Forbes Avenue, Pittsburgh, PA, 15222
Telephone: 412-261-5744

Coury Firm Asset Management LLC is a large advisory firm based in Pittsburgh. It manages $778 million of regulatory assets for 580 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Delaware, Florida, Pennsylvania, and West Virginia.

Coury Firm Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and advice on matters not involving securities. see part 1 section 6.b.(3). It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Coury Firm Asset Management: assets under management

The assets under management (AUM) of Coury Firm Asset Management LLC is $778 million. The firm's AUM has grown by 50% since the beginning of its operation, and $12 million of the total AUM is attributable to clients outside of the United States.

The firm manages $12 million in discretionary accounts and $766 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $6 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.33 million.

Investments

The firm invests in investment and business development companies the most. They account for 43% of the total AUM. The second-largest asset type is state and local bonds, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Coury Firm Asset Management LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 Coury Firm Asset Management serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Coury Firm Asset Management is high net worth individuals with 57 clients and $360 million of assets under management. Among the 8 most similar advisory firms, Coury Firm Asset Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $766 million for 158 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Coury Firm Asset Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Coury Firm Asset Management LLC

The company employs 16 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 9 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

George Vassili Philippopoulos joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jeff Charles Coury	Trustee - the 4a trust	1 Dec 2004	25% - 50%	2792067
Gregg Scott Coury	Chief executive officer	1 Jul 2017	Other	2792073
Daniel J Novakowski	Chief compliance officer	1 Jul 2017	Other	2197494
The Coury Firm Holdings Lp	Sole member	1 Jul 2017	75% - 100%	82-1932496
Robertino S Coury	President, chief investment officer, alternative investments	1 Jul 2017	Other	6176688
George Vassili Philippopoulos	Chief compliance officer	1 Nov 2018	Other	4683627

Indirect Owners

The SEC currently registers 11 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Gregg Scott Coury	Trustee	1 Feb 2007	Other	2792073
Jeff Charles Coury	Trustee	1 Aug 2012	Other	2792067
Gregg Scott Coury	Trustee	1 Apr 2015	Other	2792073
Robertino S Coury	Trustee	1 Apr 2015	Other	6176688
Jeff Charles Coury	Trustee	1 Apr 2015	Other	2792067
Tcf Gp Llc	General partner	1 Jul 2017	Other	82-1932134
The 35th Family Trust	Limited partner	1 Jul 2017	25% - 50%	38-7103667
Jeff Charles Coury	Limited partner	1 Jul 2017	25% - 50%	2792067
The Mc23 Trust	Member	1 Jul 2017	50% - 75%	25-6903200
The 4a Trust	Member	1 Jul 2017	25% - 50%	25-6867109
Inc. Coury Investment Advisors	Limited partner	1 Jun 2018	25% - 50%	116004

Based in Pittsburgh

The principal office where Coury Firm Asset Management LLC performs its advisory services is located at 260 Forbes Avenue, Pittsburgh, PA 15222, 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 412-261-5744 or by fax 412-261-2759. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at couryfirm.com and its LinkedIn profile.