Latitude Advisors, LLC (Vero Beach)

Name: Latitude Advisors, LLC
Address: 271 53 Rd Circle, Vero Beach, FL, 32968
Telephone: (772) 770-1950

Latitude Advisors, LLC is a large advisory firm based in Vero Beach. It manages $124.15 million of regulatory assets for 950 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Alabama, California, Connecticut, and 21 other states.

Latitude 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 less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Latitude Advisors: assets under management

The assets under management (AUM) of Latitude Advisors, LLC is $124.15 million. The firm's AUM has gone down by -44% since the beginning of its operation, and $200 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $101.15 million in discretionary accounts and $23 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $136.69 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $109.52 thousand.

Latitude Advisors has custody of $64.45 million in cash and securities for 246 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 48% of the total AUM. The second-largest asset type is exchange traded securities, which make up 40% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Latitude Advisors, LLC for their services and products based on a percentage of assets under management, 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 Kenneth Richard Penrose 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 Kenneth Richard Penrose is individuals with 699 clients and $98.26 million of assets under management. Among the 7 most similar advisory firms, Latitude Advisors has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $124.15 million for 716 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.

Latitude Advisors doesn't advise any private funds.

Careers at Latitude Advisors, LLC

The company employs 69 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 69 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Kenneth Richard Penrose has been acting as President since 1 Oct 2009. Jeffrey Steven Lasky joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Ara Waroujan Jabrayan	Managing member/chief compliance officer	1 Jul 2009	75% - 100%	5205934
Llc Latitude Financial	Managing member	1 Oct 2009	75% - 100%	27-1138778
Kenneth Richard Penrose	President/chief compliance officer	1 Oct 2009	Other	1028262
Jeffrey Steven Lasky	Vice president	1 Oct 2009	Other	1333003
John Stephen Bivens	Vice president	1 Oct 2009	Other	2587871
Ara Waroujan Jabrayan	Chief compliance officer	1 Oct 2009	Other	5205934

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Jeffrey Steven Lasky	Member	1 Nov 2009	25% - 50%	1333003

Based in Vero Beach

The principal office where Latitude Advisors, LLC performs its advisory services is located at 271 53 Rd Circle, Vero Beach, FL 32968, which is also the mailing address of the firm. An additional office of the firm is in Lavale, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (772) 770-1950 or by fax (772) 770-1161. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at latitudefinancial.net/.