Gruenstein Investments LLC (New York)

Name: Gruenstein Investments LLC
Address: 12 East 49 Th Street, Suite 4005, New York, NY, 10017 1028
Telephone: 212-410-1800

Gruenstein Investments LLC is a mid-sized advisory firm based in New York. It manages $31.4 million of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of New York.

Gruenstein Investments provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for pooled investment vehicles. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Gruenstein Investments: assets under management

The assets under management (AUM) of Gruenstein Investments LLC is $31.4 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $29.85 million in discretionary accounts and $1.55 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4.26 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.55 million.

Investments

The firm invests in exchange traded securities the most. They account for 87% of the total AUM. The second-largest asset type is government bonds, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Gruenstein Investments LLC for their services and products based on a percentage of assets under management and performance-based 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 Gruenstein Investments serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Gruenstein Investments is high net worth individuals with 7 clients and $26.05 million of assets under management. Among the 3 most similar advisory firms, Gruenstein Investments has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $31.4 million for 8 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.

Gruenstein Investments also advises several private funds. Namely, one hedge fund.

Careers at Gruenstein Investments LLC

The company employs 1 person that is either a part- or full-time employee. 100 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
David Gruenstein	Manager	1 Aug 2018	75% - 100%	5771636
Steven Leon Feld	Cco	1 Aug 2018	Other	1283923

Based in New York

The principal office where Gruenstein Investments LLC performs its advisory services is located at 12 East 49 Th Street, Suite 4005, New York, NY 10017 1028, 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 212-410-1800 or by fax 212-410-1805. The normal business hours are 9am to 5pm on Monday - Friday. You can find more information about the New York firm at gruenstein.com.