Compass Advisory Group LLC (Melville)

Name: Compass Advisory Group LLC
Address: 155 Pinelawn Road, Melville, NY, 11747
Telephone: (516) 938-2400

Compass Advisory Group LLC is a large advisory firm based in Melville. It manages $106 million of regulatory assets for 300 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, New Jersey, New York, and Texas.

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

Compass Advisory Group: assets under management

The assets under management (AUM) of Compass Advisory Group LLC is $106 million. The firm's AUM has grown by 33% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $70 million in discretionary accounts and $36 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $259.26 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.2 million.

Compass Advisory Group has custody of $5.8 million in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 65% of the total AUM. The second-largest asset type is investment and business development companies, which make up 24% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Compass Advisory Group 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 Compass Advisory Group serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Compass Advisory Group is high net worth individuals with 23 clients and $43 million of assets under management. Among the 5 most similar advisory firms, Compass Advisory Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $106 million for 183 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.

Compass Advisory Group doesn't advise any private funds.

Careers at Compass Advisory Group LLC

The company employs 6 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. 5 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
Michael Anthony Cuneo	Member, partner, and chief investment officer	1 Apr 2017	50% - 75%	4634237
Lauren Michelle King	Member, partner, and chief compliance officer	1 Apr 2017	50% - 75%	4629988

Based in Melville

The principal office where Compass Advisory Group LLC performs its advisory services is located at 155 Pinelawn Road, Melville, NY 11747, 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) 938-2400 or by fax (516) 938-2455. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at compassadvisors.com.