Garden State Investment Advisory Services, LLC (Red Bank)

Garden State Investment Advisory Services, LLC is a large advisory firm based in Red Bank. It manages $189.44 million of regulatory assets for 705 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 45 other states.

Garden State Investment Advisory Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Garden State Investment Advisory Services: assets under management

The assets under management (AUM) of Garden State Investment Advisory Services, LLC is $189.44 million. The firm's AUM has grown by 43% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $4.66 million in discretionary accounts and $184.78 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $274.14 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $268.58 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 65% of the total AUM. The second-largest asset type is exchange traded securities, which make up 29% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Garden State Investment Advisory Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Garden State Investment Advisory Services serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Garden State Investment Advisory Services is individuals with 697 clients and $166.58 million of assets under management. Among the 12 most similar advisory firms, Garden State Investment Advisory Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $189.44 million for 704 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.

Garden State Investment Advisory Services doesn't advise any private funds.

Careers at Garden State Investment Advisory Services, LLC

The company employs 27 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 27 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 receive compensation from other entities for client referrals.

Garden State Investment Advisory Services, LLC is owned by Kevin John Derosa. Steven David Trigili joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Kevin John Derosa	Member/owner	1 Sep 2004	25% - 50%	2314895
Scott Henry Sari	Member/owner	1 Sep 2004	25% - 50%	2226426
Louis Lucky Perrotto	Managing member/owner	1 Sep 2004	25% - 50%	3053498
Raymond Edward Ambrosino	Member/owner	1 Sep 2004	25% - 50%	2070784
Steven David Trigili	Chief compliance officer	1 Apr 2010	Other	2232496

Based in Red Bank

The principal office where Garden State Investment Advisory Services, LLC performs its advisory services is located at 328 Newman Springs Road, Red Bank, NJ 07701, which is also the mailing address of the firm. An additional office of the firm is in Wellington, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 732-280-6886 or by fax 732-280-6889. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday.