Concert Wealth Management, Inc. (San Jose)

Name: Concert Wealth Management, Inc.
Address: 1900 The Alameda, San Jose, CA, 95126
Telephone: 408-856-6310

Concert Wealth Management, Inc. is a large advisory firm based in San Jose. It manages $200.99 million of regulatory assets for 350 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama, Arizona, and California.

Concert Wealth Management 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 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Concert Wealth Management: assets under management

The assets under management (AUM) of Concert Wealth Management, Inc. is $200.99 million. The firm's AUM has grown by 468% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $160.99 million in discretionary accounts and $40 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $470.72 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $5 million.

Investments

The firm invests in exchange traded securities the most. They account for 82% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio. Investments in government bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Concert Wealth Management, Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 Jeffrey Garett Pietsch serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Jeffrey Garett Pietsch is individuals with 245 clients and $80.95 million of assets under management. Among the 9 most similar advisory firms, Concert Wealth Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $200.99 million for 313 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.

Concert Wealth Management doesn't advise any private funds.

Careers at Concert Wealth Management, Inc.

The company employs 18 people that are either part- or full-time employees. 94 percent of the employees work as investment advisers or researchers. 2 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.

Jeffrey Garett Pietsch has been acting as President since 1 Oct 2014. Elizabeth Nmn Luna joined the executive team most recently as the Secretary.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Elizabeth Nmn Luna	Executive vice president / cfo / co-ceo	1 Feb 2006	Other	5198499
Felipe Amor Luna	Chief executive officer	1 Feb 2006	25% - 50%	2544514
Elizabeth Luna	Chief compliance officer	1 Feb 2006	Other	5198499
Felipe Amor Luna	President	1 Mar 2006	Other	2544514
Concert Global Group Ltd.	Parent company	1 Dec 2006	75% - 100%	05-0632831
Omni Global Group Ltd.	Parent company	1 Dec 2006	75% - 100%	05-0632831
Dick Eugene Blakeley	Managing director	1 Jan 2007	Other	854748
James Martin Thorn	Chief compliance officer	1 Jan 2010	Other	1055431
Dennis Bruce Navarra	Chief operating officer / chief financial officer	1 Sep 2010	Other	5829653
Felipe Amor Luna	Principal / co-ceo	1 Oct 2014	Other	2544514
Jeffrey Garett Pietsch	President	1 Oct 2014	Other	6011071
Erik Allen Schei	Chief operations officer	1 May 2015	Other	4886564
Gregory Syler	Chief compliance officer	1 Jan 2016	Other	2683638
Erik Allen Schei	Chief compliance officer	1 Dec 2016	Other	4886564
Elizabeth Nmn Luna	Secretary	1 May 2017	25% - 50%	5198499

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Luna Family Trust	Trust	1 Feb 2006	50% - 75%	xxx-xx-xxxx
Elizabeth Luna	Secretary/board director	1 Mar 2006	25% - 50%	5198499

Based in San Jose

The principal office where Concert Wealth Management, Inc. performs its advisory services is located at 1900 The Alameda, San Jose, CA 95126, which is also the mailing address of the firm. An additional office of the firm is in Seattle, WA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 408-856-6310 or by fax 408-200-0369. The normal business hours are 9am-3pm on Monday - Friday. You can find more information about the New York firm at concertglobal.com.