Mollot & Hardy, Inc. (Amherst)

Name: Mollot & Hardy, Inc.
Address: 646 N. French Rd, Amherst, NY, 14228
Telephone: 716-691-7121

Mollot & Hardy, Inc. is a mid-sized advisory firm based in Amherst. It manages $57.21 million of regulatory assets for 141 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of New York, Texas, and Utah.

Mollot & Hardy provides financial planning services, portfolio management for individuals and small businesses, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Mollot & Hardy: assets under management

The assets under management (AUM) of Mollot & Hardy, Inc. is $57.21 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $57.21 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $405.73 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Mollot & Hardy, Inc. for their services and products based on a percentage of assets under management. 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 Mollot & Hardy serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Mollot & Hardy is individuals with 210 clients and $57.21 million of assets under management. Among the 3 most similar advisory firms, Mollot & Hardy has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $57.21 million for 216 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.

Mollot & Hardy doesn't advise any private funds.

Careers at Mollot & Hardy, Inc.

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Alan Richard Mollot	President; cco	1 Mar 1972	75% - 100%	816494
Michael Jeffery Hardy	Adviser	1 Mar 2008	Other	4432234
Peter Michael Ferriello	Vice president	1 May 2016	Other	4970081

Based in Amherst

The principal office where Mollot & Hardy, Inc. performs its advisory services is located at 646 N. French Rd, Amherst, NY 14228, 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 716-691-7121 or by fax 716-691-7718. The normal business hours are 8:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at mollot.com.