Hermening Advisory Services LLC (Wausau)

Name: Hermening Advisory Services LLC
Address: 200 Washington Street, Wausau, WI, 54403
Telephone: 715-842-1916

Hermening Advisory Services LLC is a large advisory firm based in Wausau. It manages $104.97 million of regulatory assets for 766 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Florida, Minnesota, Ohio, Texas, and Wisconsin.

Hermening Advisory Services provides portfolio management for individuals and small businesses and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Hermening Advisory Services: assets under management

The assets under management (AUM) of Hermening Advisory Services LLC is $104.97 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 240% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $104.97 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $137.04 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is other assets, which make up 36% of the firm’s portfolio. Investments in investment and business development companies form 25% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hermening Advisory Services LLC 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 Hermening Advisory Services serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Hermening Advisory Services is individuals with 324 clients and $52.7 million of assets under management. Among the 10 most similar advisory firms, Hermening Advisory Services has the 4th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $104.97 million for 362 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.

Hermening Advisory Services doesn't advise any private funds.

Careers at Hermening Advisory Services LLC

The company employs 8 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. 6 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
Kevin Jay Hermening	Managing member	1 Feb 2005	75% - 100%	2070967
Kimberly Annette Payne	Chief compliance officer	1 Feb 2007	Other	3186801

Based in Wausau

The principal office where Hermening Advisory Services LLC performs its advisory services is located at 200 Washington Street, Wausau, WI 54403, which is also the mailing address of the firm. An additional office of the firm is in Eau Claire, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 715-842-1916 or by fax 715-842-2907. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at hermeningfinancialgroup.com.