Stone Asset Management, Inc. (Austin)

Name: Stone Asset Management, Inc.
Address: 703 West 10 Th Street, Austin, TX, 78701
Telephone: 512-469-9152

Stone Asset Management, Inc. is a large advisory firm based in Austin. It manages $170.46 million of regulatory assets for 588 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdiction of Texas.

Stone Asset Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Stone Asset Management: assets under management

The assets under management (AUM) of Stone Asset Management, Inc. is $170.46 million. The firm's AUM has grown by 25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $169.07 million in discretionary accounts and $1.39 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $288.02 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.39 million.

Stone Asset Management has custody of $5 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in state and local bonds form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Stone 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 Stone Asset Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Stone Asset Management is high net worth individuals with 38 clients and $102.43 million of assets under management. Among the 5 most similar advisory firms, Stone Asset Management has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $170.46 million for 167 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.

Stone Asset Management doesn't advise any private funds.

Careers at Stone Asset Management, Inc.

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Morgan Stone	President, chief compliance officer	1 Jun 2004	75% - 100%	4828259
Brittany Ann Mcgehee	Chief compliance officer	1 Oct 2018	Other	5710106

Based in Austin

The principal office where Stone Asset Management, Inc. performs its advisory services is located at 703 West 10 Th Street, Austin, TX 78701, 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 512-469-9152 or by fax 512-532-0679. The normal business hours are 9:00 to 5:00 on Monday - Friday. You can find more information about the New York firm at stoneasset.com.