Deseranno Corporation (Grosse Pointe Farms)

Name: Deseranno Corporation
Address: 18720 Mack Avenue, Grosse Pointe Farms, MI, 48236
Telephone: 313-885-0114

Deseranno Corporation is a large advisory firm based in Grosse Pointe Farms. It manages $160.17 million of regulatory assets for 273 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Indiana, Michigan, and Texas.

Deseranno Corporation provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Deseranno Corporation: assets under management

The assets under management (AUM) of Deseranno Corporation is $160.17 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 438% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $160.17 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $586.69 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 53% of the total AUM. The second-largest asset type is state and local bonds, which make up 22% of the firm’s portfolio. Investments in investment grade corporate bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Deseranno Corporation 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 Don Joseph Deseranno serves?

The firm provides services to individuals, insurance companies, and high net worth individuals. The largest group of clients of Don Joseph Deseranno is high net worth individuals with 65 clients and $83.37 million of assets under management. Among the 7 most similar advisory firms, Deseranno Corporation has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $160.17 million for 166 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.

Deseranno Corporation doesn't advise any private funds.

Careers at Deseranno Corporation

The company employs 7 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. 4 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.

Deseranno Corporation is owned by Robert Stephen Rahaim. Don Joseph Deseranno has been acting as President since 1 Jul 1999. Elena Graves joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Don Joseph Deseranno	Owner/president	1 Jul 1999	75% - 100%	2914873
Robert Stephen Rahaim	Owner	1 Nov 2002	Other	4581651
Elena Graves	Chief compliance officer	1 Jan 2004	Other	4874680

Based in Grosse Pointe Farms

The principal office where Deseranno Corporation performs its advisory services is located at 18720 Mack Avenue, Grosse Pointe Farms, MI 48236, 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 313-885-0114 or by fax 313-885-4940. The normal business hours are 9:30am-4:00pm on Monday - Friday. You can find more information about the New York firm at deseranno.com/.