American Wealth Administration Group LLC (Glen Cove)

American Wealth Administration Group LLC is a mid-sized advisory firm based in Glen Cove. It manages $32.37 million of regulatory assets for 123 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, California, Georgia, and 6 other states.

American Wealth Administration Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and publication of newsletters. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

American Wealth Administration Group: assets under management

The assets under management (AUM) of American Wealth Administration Group LLC is $32.37 million. The firm's AUM has gone down by -21% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $30.63 million in discretionary accounts and $1.74 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $309.43 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $72.51 thousand.

Investments

The firm invests in cash and cash equivalents the most. They account for 37% of the total AUM. The second-largest asset type is government bonds, which make up 30% of the firm’s portfolio. Investments in non-exchange traded securities form 22% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay American Wealth Administration Group LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. 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 Kevin John Hughes serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Kevin John Hughes is high net worth individuals with 17 clients and $22.53 million of assets under management. Among the 2 most similar advisory firms, American Wealth Administration Group has the lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $32.37 million for 140 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.

American Wealth Administration Group doesn't advise any private funds.

Careers at American Wealth Administration Group LLC

The company employs 4 people that are either part- or full-time employees. 50 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 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.

Kevin John Hughes has been acting as President since 1 Feb 2016. Timothy John Hughes joined the executive team most recently as the Managing Member And Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Timothy John Hughes	Managing member and chief financial officer	1 Feb 2016	25% - 50%	6316019
Kevin John Hughes	Managing member/ceo/chairman/chief compliance officer	1 Feb 2016	25% - 50%	2751010
Jonathan Solomon Lifschutz	Managing member and president	1 Feb 2016	Other	1383898
George Konstantinos Pappas	Managing member and chief operating officer	1 Feb 2016	25% - 50%	5359823
Jsl Wealth Management Llc	Holding company (lifshutz)	1 Feb 2016	25% - 50%	47-195953
Jonathan S. Lifschutz	Managing member and president	1 Feb 2016	25% - 50%	1383898

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Jonathan Solomon Lifschutz	Managing member	1 Sep 2014	75% - 100%	1383898

Based in Glen Cove

The principal office where American Wealth Administration Group LLC performs its advisory services is located at 50 Glen Cove Road, Glen Cove, NY 11542, 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 (516) 833-6800 or by fax (516) 833-6969. The normal business hours are 9:00am to 5:00pm on Monday - Friday.