Brave Asset Management, Inc. (Summit)

Name: Brave Asset Management, Inc.
Address: 47 Summit Avenue, Summit, NJ, 07901
Telephone: 908-522-8822

Brave Asset Management, Inc. is a large advisory firm based in Summit. It manages $256.31 million of regulatory assets for 380 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Connecticut, Florida, New Jersey, New York, and Rhode Island.

Brave Asset Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and investment advice through consultations. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Brave Asset Management: assets under management

The assets under management (AUM) of Brave Asset Management, Inc. is $256.31 million. The firm's AUM has grown by 70% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $251.28 million in discretionary accounts and $5.03 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $671.86 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $838.25 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is government bonds, which make up 19% of the firm’s portfolio. Investments in investment grade corporate bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Brave Asset Management, Inc. 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 David Gardner Bunting serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of David Gardner Bunting is high net worth individuals with 55 clients and $228 million of assets under management. Among the 11 most similar advisory firms, Brave Asset Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $256.31 million for 142 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.

Brave Asset Management doesn't advise any private funds.

Careers at Brave Asset Management, Inc.

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

David Gardner Bunting has been acting as President since 1 Aug 1992. Scott Anthony Morrison joined the executive team most recently as the Managing Director, Secretary Treasurer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Gardner Bunting	Chairman	1 Aug 1992	Other	35222
Thomas Brett Haire	President/chief compliance officer	1 Aug 1992	25% - 50%	824182
Scott Anthony Morrison	Direct owner	1 Feb 2016	25% - 50%	1878820
Scott Anthony Morrison	Managing director, secretary-treasurer	1 Feb 2017	50% - 75%	1878820

Based in Summit

The principal office where Brave Asset Management, Inc. performs its advisory services is located at 47 Summit Avenue, Summit, NJ 07901, which is also the mailing address of the firm. An additional office of the firm is in Tiverton, RI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 908-522-8822 or by fax 908-522-1022. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at braveasset.com.