Carl P. Sherr & Co., LLC (Worcester)

Name: Carl P. Sherr & Co., LLC
Address: 446 Main Street, Worcester, MA, 01608
Telephone: 508-791-7126

Carl P. Sherr & Co., LLC is a large advisory firm based in Worcester. It manages $220.11 million of regulatory assets for 634 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of California, Connecticut, Florida, Massachusetts, and New Hampshire.

Carl P. Sherr & Co. provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Carl P. Sherr & Co.: assets under management

The assets under management (AUM) of Carl P. Sherr & Co., LLC is $220.11 million. The firm's AUM has grown by 610% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $197.37 million in discretionary accounts and $22.74 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $324.09 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $909.53 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is investment and business development companies, which make up 35% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Carl P. Sherr & Co., LLC for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Carl P. Sherr & Co. serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Carl P. Sherr & Co. is high net worth individuals with 109 clients and $179.85 million of assets under management. Among the 6 most similar advisory firms, Carl P. Sherr & Co. has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $219.52 million for 300 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.

Carl P. Sherr & Co. doesn't advise any private funds.

Careers at Carl P. Sherr & Co., LLC

The company employs 6 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 3 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
Carl Paul Sherr	Member/manager	1 Jan 2001	25% - 50%	421818
Gary Hyman Sherr	Member	1 Jan 2001	25% - 50%	1391071
Edward Laurence Sherr	Member and chief compliance officer	1 Jan 2001	25% - 50%	1919845

Based in Worcester

The principal office where Carl P. Sherr & Co., LLC performs its advisory services is located at 446 Main Street, Worcester, MA 01608, 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 508-791-7126 or by fax 774-243-2990. The normal business hours are 8:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at carlpsherr.com/.