Biondo Investment Advisors LLC (Milford)

Name: Biondo Investment Advisors LLC
Address: 540 Route 6 & 209, Milford, PA, 18337
Telephone: 570-296-5525

Biondo Investment Advisors LLC is a large advisory firm based in Milford. It manages $523.6 million of regulatory assets for 1,521 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, California, Connecticut, and 12 other states.

Biondo Investment Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, 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.

Biondo Investment Advisors: assets under management

The assets under management (AUM) of Biondo Investment Advisors LLC is $523.6 million. The firm's AUM has grown by 249% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $488.28 million in discretionary accounts and $35.33 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $708.68 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $42.46 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 67% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Biondo Investment Advisors LLC for their services and products based on a percentage of assets under management. 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 Biondo Investment Advisors serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and state or municipal government entities. The largest group of clients of Biondo Investment Advisors is high net worth individuals with 151 clients and $327.78 million of assets under management. Among the 11 most similar advisory firms, Biondo Investment Advisors has the 6th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $502.17 million for 676 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.

Biondo Investment Advisors doesn't advise any private funds.

Careers at Biondo Investment Advisors LLC

The company employs 14 people that are either part- or full-time employees. 64 percent of the employees work as investment advisers or researchers. 9 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 receive compensation from other entities for client referrals.

Joseph Peter Biondo has served as the Chief Investment Officer since 1 Dec 2007. Karl Augustus Wagner joined the executive team most recently as the Senior Wealth Advisor, Member The Biondo Group, Llc.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
The Biondo Group Llc	Owner	1 Nov 2003	75% - 100%	52-2406046
Joseph Ralph Biondo	Ceo	1 Nov 2003	Other	21733
Felix Rivera	Chief compliance officer	1 Oct 2004	Other	4181731
Joseph Peter Biondo	Chief operating officer	1 Nov 2004	Other	2536633
Eugenia Pavek	Chief compliance officer	1 Apr 2005	Other	2337178
Felix Rivera	Chief operating officer	1 Dec 2007	Other	4181731
Joseph Peter Biondo	Chief investment officer	1 Dec 2007	Other	2536633
Karl Augustus Wagner	Dir business development, member-the biondo group, llc	1 Aug 2013	Other	2524153
Joseph Ralph Biondo	Founder, sr. portfolio manager, member-the biondo group, llc	1 Jan 2015	Other	21733
Joseph Peter Biondo	Ceo, cio, manager, member-the biondo group, llc	1 Jan 2015	Other	2536633
Brian Michael Moran	Chief compliance officer	1 Sep 2018	Other	1940341
Genevieve Catherine Sullivan Cornell	Chief operations officer	1 Sep 2018	Other	1324311
Genevieve Catherine Sullivan Cornell	Interim chief compliance officer	1 Dec 2018	Other	1324311
Karl Augustus Wagner	Senior wealth advisor, member-the biondo group, llc	1 Jan 2019	Other	2524153

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Ralph Biondo	Member	1 Feb 2004	Other	21733
Joseph Peter Biondo	90% owner	1 Feb 2004	75% - 100%	2536633
Joseph Peter Biondo	Member manager	1 Jan 2005	75% - 100%	2536633
Gregory Joseph Lutfy	Member	1 Nov 2011	Other	2386934

Based in Milford

The principal office where Biondo Investment Advisors LLC performs its advisory services is located at 540 Route 6 & 209, Milford, PA 18337 The mailing address of the firm is Po Box 909, Milford, PA 18337. An additional office of the firm is in Sparta, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 570-296-5525 or by fax 570-296-5527. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at thebiondogroup.com and its LinkedIn profile.