Lassus Wherley & Associates, Inc. (New Providence)

Name: Lassus Wherley & Associates, Inc.
Address: 1 Academy Street, New Providence, NJ, 07974 1842
Telephone: 908-464-0102

Lassus Wherley & Associates, Inc. is a large advisory firm based in New Providence. It manages $509.8 million of regulatory assets for 1,694 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, District of Columbia, Florida, and 11 other states.

Lassus Wherley & Associates provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and publication of newsletters. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lassus Wherley & Associates: assets under management

The assets under management (AUM) of Lassus Wherley & Associates, Inc. is $509.8 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -7% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $509.8 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $300.95 thousand each.

Lassus Wherley & Associates has custody of $240.69 million in cash and securities for 244 clients 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 82% of the total AUM. The second-largest asset type is exchange traded securities, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lassus Wherley & Associates, 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 Diahann Wyke Lassus serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Diahann Wyke Lassus is high net worth individuals with 165 clients and $430.6 million of assets under management. Among the 10 most similar advisory firms, Lassus Wherley & Associates has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $504.61 million for 345 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.

Lassus Wherley & Associates doesn't advise any private funds.

Careers at Lassus Wherley & Associates, Inc.

The company employs 17 people that are either part- or full-time employees. 59 percent of the employees work as investment advisers or researchers. 10 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Diahann Wyke Lassus has been acting as President since 1 Aug 2018. Karen Johanna Alvarado joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Diahann Wyke Lassus	President/treasurer	1 Aug 2018	Other	1642685
Clare Elizabeth Wherley	Chief executive officer	1 Aug 2018	Other	4392310
Deborah Joan Rivosa	Chief compliance officer	1 Aug 2018	Other	5715698
Peapack Gladstone Bank	Shareholder	1 Aug 2018	75% - 100%	22-2491488
Todd Martin Poland	General counsel/secretary	1 Aug 2018	Other	7022942
Karen Johanna Alvarado	Chief compliance officer	1 Mar 2019	Other	4207012

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Peapack Gladstone Financial Corporation	Shareholder	1 Aug 1997	75% - 100%	22-3537895

Based in New Providence

The principal office where Lassus Wherley & Associates, Inc. performs its advisory services is located at 1 Academy Street, New Providence, NJ 07974 1842, which is also the mailing address of the firm. An additional office of the firm is in Bonita Springs, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 908-464-0102 or by fax 908-464-9852. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at lassuswherley.com/.