Northeastern Star Asset Management, Inc. (Wormleysburg)

Name: Northeastern Star Asset Management, Inc.
Address: 1017 Mumma Road, Wormleysburg, PA, 17043
Telephone: 717-732-2719

Northeastern Star Asset Management, Inc. is a large advisory firm based in Wormleysburg. It manages $154.13 million of regulatory assets for 993 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Connecticut, Delaware, and 8 other states.

Northeastern Star Asset Management provides financial planning services and portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Northeastern Star Asset Management: assets under management

The assets under management (AUM) of Northeastern Star Asset Management, Inc. is $154.13 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -23% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $154.13 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $155.22 thousand each.

Northeastern Star Asset Management has custody of $14.39 million in cash and securities for 53 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 84% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 10% of the firm’s portfolio. Investments in exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Northeastern Star Asset Management, 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 Northeastern Star Asset Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Northeastern Star Asset Management is high net worth individuals with 40 clients and $65.56 million of assets under management. Among the 9 most similar advisory firms, Northeastern Star Asset Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $154.13 million for 535 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.

Northeastern Star Asset Management doesn't advise any private funds.

Careers at Northeastern Star Asset Management, Inc.

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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
Kenneth Richard Ferrone	Managing member, chief compliance officer, chief investment officer	1 Aug 2014	50% - 75%	2367840
Paul Seth Dubendorf	Managing member	1 Aug 2014	50% - 75%	4803852

Based in Wormleysburg

The principal office where Northeastern Star Asset Management, Inc. performs its advisory services is located at 1017 Mumma Road, Wormleysburg, PA 17043, 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 717-732-2719 or by fax 717-763-1379. The normal business hours are 8:30 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at northeasternstarassetmanagement.com.