Alterity Financial Group, LLC (Bangor)

Name: Alterity Financial Group, LLC
Address: 21 Main Street, Bangor, ME, 04401
Telephone: 800-966-7730

Alterity Financial Group, LLC is a large advisory firm based in Bangor. It manages $100.77 million of regulatory assets for 251 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Florida, Maine, Massachusetts, and New Hampshire.

Alterity Financial Group provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Alterity Financial Group: assets under management

The assets under management (AUM) of Alterity Financial Group, LLC is $100.77 million. The firm's AUM has gone down by -19% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $81.44 million in discretionary accounts and $19.33 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $378.77 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $537.04 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Alterity Financial Group, LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dudley Grindle Gray serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Dudley Grindle Gray is corporations or other businesses with 2 clients and $36.1 million of assets under management. Among the 8 most similar advisory firms, Alterity Financial Group has the highest percentage of corporations or other businesses out of all clients.

The amount of regulatory assets under management is $100.77 million for 251 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.

Alterity Financial Group doesn't advise any private funds.

Careers at Alterity Financial Group, LLC

The company employs 7 people that are either part- or full-time employees. 86 percent of the employees work as investment advisers or researchers. 6 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.

Dudley Grindle Gray has been acting as President since 1 Jun 2010. Janice Lee Grindle joined the executive team most recently as the Chief Compliance Officer And Chief Operations Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Janice Lee Grindle	Chief compliance officer and chief operations officer	1 Jun 2010	Other	2796211
Llc Cgc	Managing member	1 Jun 2010	75% - 100%	27-2070241
Jeffrey Matthew Chapman	President, ceo and cio	1 Jun 2010	Other	4118941
Dudley Grindle Gray	Chairman	1 Jun 2010	Other	5802049

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Jeffrey Matthew Chapman	Managing member	1 Nov 2007	50% - 75%	4118941
Dudley Grindle Gray	Managing member	1 Nov 2007	50% - 75%	5802049

Based in Bangor

The principal office where Alterity Financial Group, LLC performs its advisory services is located at 21 Main Street, Bangor, ME 04401 The mailing address of the firm is P.O. Box 2010, Bangor, ME 04402. An additional office of the firm is in Tampa, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-966-7730 or by fax 207-992-2610. The normal business hours are 9:00 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at alterityfinancialgroup.com.