Cobblestone Capital Advisors, LLC (Rochester)

Name: Cobblestone Capital Advisors, LLC
Address: 500 Linden Oaks, Rochester, NY, 14625
Telephone: 585-473-3333

Cobblestone Capital Advisors, LLC is a large advisory firm based in Rochester. It manages $1.75 billion of regulatory assets for 2,317 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Colorado, Connecticut, and 15 other states.

Cobblestone Capital Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, 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.

Cobblestone Capital Advisors: assets under management

The assets under management (AUM) of Cobblestone Capital Advisors, LLC is $1.75 billion. The firm's AUM has grown by 101% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.59 billion in discretionary accounts and $156.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $689.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $22.35 million.

Cobblestone Capital Advisors has custody of $911.51 million in cash and securities for 497 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is investment and business development companies, which make up 24% 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 Cobblestone Capital Advisors, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. 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 Cobblestone Capital Advisors serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Cobblestone Capital Advisors is high net worth individuals with 295 clients and $1.16 billion of assets under management. Among the 13 most similar advisory firms, Cobblestone Capital Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.75 billion for 785 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.

Cobblestone Capital Advisors also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $75,000 for each fund.

Careers at Cobblestone Capital Advisors, LLC

The company employs 35 people that are either part- or full-time employees. 54 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Thomas Martin Bartlett	Member/chief compliance officer	1 Mar 1998	25% - 50%	4360713
Peter Huntington Greavestunnell	Member	1 Mar 1998	25% - 50%	1824528
Daniel Robert Goodwin	Partner	1 Mar 1998	25% - 50%	4360717
Walter Woodworth Millard	Partner	1 Mar 1998	Other	4360728
Keogh And Millard Associates Inc. Hessler	Shareholder	1 Mar 1998	Other	16-1276367
John Thomas Dipasquale	Partner	1 Jan 2001	Other	2453783
Robert Jackson Swartout	Partner	1 Apr 2001	Other	1346569
Walter Woodworth Millard	Partner	1 Jan 2006	Other	4360728
John Thomas Dipasquale	Managing member	1 Jan 2015	25% - 50%	2453783

Based in Rochester

The principal office where Cobblestone Capital Advisors, LLC performs its advisory services is located at 500 Linden Oaks, Rochester, NY 14625, 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 585-473-3333 or by fax 585-218-1111. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at cobblestonecap.com and its LinkedIn profile.