King Wealth Management Group, LLC (Saratoga Springs)

Name: King Wealth Management Group, LLC
Address: 270 West Circular Street, Saratoga Springs, NY, 12866
Telephone: (518) 306-5640

King Wealth Management Group, LLC is a large advisory firm based in Saratoga Springs. It manages $439.04 million of regulatory assets for 1,427 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Colorado, Connecticut, and 11 other states.

King Wealth Management Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

King Wealth Management Group: assets under management

The assets under management (AUM) of King Wealth Management Group, LLC is $439.04 million. The firm's AUM has grown by 75% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $429.66 million in discretionary accounts and $9.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $304.29 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $625.43 thousand.

King Wealth Management Group has custody of $90.7 million in cash and securities for 129 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 44% of the total AUM. The second-largest asset type is exchange traded securities, which make up 31% of the firm’s portfolio. Investments in state and local bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay King Wealth Management Group, LLC for their services and products based on a percentage of assets under management 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 King Wealth Management Group serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of King Wealth Management Group is high net worth individuals with 92 clients and $257.47 million of assets under management. Among the 12 most similar advisory firms, King Wealth Management Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $438.31 million for 543 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.

King Wealth Management Group doesn't advise any private funds.

Careers at King Wealth Management Group, LLC

The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. No 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lawrence Edgar King	Managing member / chief compliance officer	1 Feb 2012	75% - 100%	2015201
Daniel Paul Gale	Managing member	1 Feb 2012	Other	4138857
Jane Marie Quinn	Secretary	1 Jan 2015	Other	1968016
Sally A King	Treasurer	1 Jan 2015	Other	6615801

Based in Saratoga Springs

The principal office where King Wealth Management Group, LLC performs its advisory services is located at 270 West Circular Street, Saratoga Springs, NY 12866, 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 (518) 306-5640 or by fax (518) 306-5645. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at kingwealthmanagementgroup.com.