Ascent Wealth Partners, LLC (New Hartford)

Name: Ascent Wealth Partners, LLC
Address: 89 Genesee Street, New Hartford, NY, 13413
Telephone: 315-624-7300

Ascent Wealth Partners, LLC is a large advisory firm based in New Hartford. It manages $541.75 million of regulatory assets for 1,340 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Florida, Massachusetts, New Hampshire, and 5 other states.

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

Ascent Wealth Partners: assets under management

The assets under management (AUM) of Ascent Wealth Partners, LLC is $541.75 million. The firm's AUM has grown by 202% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $521.01 million in discretionary accounts and $20.74 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $403.88 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $414.85 thousand.

Ascent Wealth Partners has custody of $120.3 million in cash and securities for 97 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 56% of the total AUM. The second-largest asset type is investment and business development companies, which make up 17% of the firm’s portfolio. Investments in investment grade corporate bonds form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ascent Wealth Partners, LLC for their services and products based on a percentage of assets under management and fixed 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 Ascent Wealth Partners serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Ascent Wealth Partners is high net worth individuals with 145 clients and $338.85 million of assets under management. Among the 11 most similar advisory firms, Ascent Wealth Partners has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $541.75 million for 640 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.

Ascent Wealth Partners doesn't advise any private funds.

Careers at Ascent Wealth Partners, LLC

The company employs 12 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 9 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Scott Clyde Mccartney	Managing member	1 Aug 2011	25% - 50%	4938320
Nancy Lamb Kowalczyk	Chief compliance officer	1 Sep 2011	Other	5358209
Bradley Michael Kowalczyk	Managing member	1 Sep 2011	25% - 50%	3121573
Martin Edward Moshier	Managing member	1 Sep 2011	25% - 50%	4342998
Nancy Lamb Trela	Chief compliance officer	1 Sep 2011	Other	5358209

Based in New Hartford

The principal office where Ascent Wealth Partners, LLC performs its advisory services is located at 89 Genesee Street, New Hartford, NY 13413, which is also the mailing address of the firm. An additional office of the firm is in Clayton, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 315-624-7300 or by fax 315-624-7305. The normal business hours are 8:30 am - 5:00pm on Monday - Friday. You can find more information about the New York firm at ascentwealthpartners.com.