Frisch Financial Group, Inc. (Melville)

Name: Frisch Financial Group, Inc.
Address: 445 Broad Hollow Road, Melville, NY, 11747
Telephone: 516-694-7900

Frisch Financial Group, Inc. is a large advisory firm based in Melville. It manages $409.09 million of regulatory assets for 1,252 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of California, Connecticut, Florida, and 4 other states.

Frisch Financial Group provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Frisch Financial Group: assets under management

The assets under management (AUM) of Frisch Financial Group, Inc. is $409.09 million. The firm's AUM has grown by 1332% since the beginning of its operation, and $501.81 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $373.66 million in discretionary accounts and $35.43 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $318.55 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $448.47 thousand.

Frisch Financial Group has custody of $6.19 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 45% of the total AUM. The second-largest asset type is exchange traded securities, which make up 41% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Frisch Financial Group, Inc. 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 David Andrew Frisch serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of David Andrew Frisch is high net worth individuals with 156 clients and $276.14 million of assets under management. Among the 10 most similar advisory firms, Frisch Financial Group has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $405.47 million for 459 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.

Frisch Financial Group doesn't advise any private funds.

Careers at Frisch Financial Group, Inc.

The company employs 13 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 5 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 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.

David Andrew Frisch has been acting as President since 1 Jun 1999. Denise Davies joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Andrew Frisch	President/managing partner	1 Jun 1999	75% - 100%	4547053
Harold Sol Frisch	Chief financial officer	1 Jan 2003	Other	5930583
Joyce Ann Streithorst	Chief compliance officer	1 Mar 2010	Other	4358107
Jason Matthew Sacks	Partner	1 Dec 2010	Other	2902189
Denise Davies	Chief operating officer	1 Jan 2011	Other	5904979
Denise Jackson	Chief operating officer	1 Jan 2011	Other	5904979

Based in Melville

The principal office where Frisch Financial Group, Inc. performs its advisory services is located at 445 Broad Hollow Road, Melville, NY 11747, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 516-694-7900 or by fax 516-694-7901. The normal business hours are 9:00 to 5:00 pm on Monday - Friday. You can find more information about the New York firm at frischfinancial.com.