Wealthpro, LLC (Gloversville)

Name: Wealthpro, LLC
Address: 15 First Avenue, Gloversville, NY, 12078
Telephone: 518-725-6111

Wealthpro, LLC is a mid-sized advisory firm based in Gloversville. It manages $32.67 million of regulatory assets for 295 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Florida, New Hampshire, and New York.

Wealthpro provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and investment consulting + regular client update letters. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealthpro: assets under management

The assets under management (AUM) of Wealthpro, LLC is $32.67 million. The company doesn't manage any assets belonging to foreign clients.

Investments

The firm invests in investment and business development companies the most. They account for 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealthpro, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Wealthpro serves?

The only and largest group of clients of Wealthpro is individuals with 130 clients and $30.83 million of assets under management. Among the 1 most similar advisory firms, Wealthpro has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $30.83 million for 130 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.

Wealthpro doesn't advise any private funds.

Careers at Wealthpro, LLC

The company employs 2 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Neal Jay Solomon	Managing member & chief compliance officer	1 Jul 2003	75% - 100%	1251922
Robin Mara Solomon	Manager	1 Jul 2003	Other	4702855
Robin M Solomon	Manager	1 Jul 2003	Other	4702855

Based in Gloversville

The principal office where Wealthpro, LLC performs its advisory services is located at 15 First Avenue, Gloversville, NY 12078 The mailing address of the firm is Po Box 1224, Gloversville, NY 12078. An additional office of the firm is in Wilton, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 518-725-6111 or by fax 518-725-4042. The normal business hours are 9:30am-4:00pm on Monday - Friday. You can find more information about the New York firm at wealth.us.