Merryfield Barnes, LLC (Ithaca)

Name: Merryfield Barnes, LLC
Address: 401 West Seneca Street, Ithaca, NY, 14850
Telephone: (607) 882-9983

Merryfield Barnes, LLC is a mid-sized advisory firm based in Ithaca. It manages $58.04 million of regulatory assets for 354 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, District of Columbia, Florida, and 9 other states.

Merryfield Barnes provides 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.

Merryfield Barnes: assets under management

The assets under management (AUM) of Merryfield Barnes, LLC is $58.04 million. The firm's AUM has grown by 119% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $51.8 million in discretionary accounts and $6.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $152.34 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $446.09 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 65% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 30% of the firm’s portfolio. Investments in investment and business development companies form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Merryfield Barnes, 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 Merryfield Barnes serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Merryfield Barnes is high net worth individuals with 54 clients and $41.79 million of assets under management. Among the 4 most similar advisory firms, Merryfield Barnes has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $58.04 million for 188 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.

Merryfield Barnes doesn't advise any private funds.

Careers at Merryfield Barnes, LLC

The company employs 3 people that are either part- or full-time employees. 67 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 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
Dennis George Merryfield	Managing member / president	1 Nov 2011	75% - 100%	3277072
Charles Whitney Barnes	Senior vice president	1 Nov 2011	25% - 50%	4920725
Charles Whitney Barnes	Chief compliance officer	1 Nov 2013	25% - 50%	4920725

Based in Ithaca

The principal office where Merryfield Barnes, LLC performs its advisory services is located at 401 West Seneca Street, Ithaca, NY 14850, 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 (607) 882-9983 or by fax (607) 697-0464. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at merryfieldbarnes.com.