Roanoke Asset Management Corp (Jersey City)

Name: Roanoke Asset Management Corp
Address: Harborside 5, Jersey City, NJ, 07311 1213
Telephone: 201-985-1111

Roanoke Asset Management Corp is a large advisory firm based in Jersey City. It manages $254.99 million of regulatory assets for 113 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida, Massachusetts, and New York.

Roanoke Asset Management Corp provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Roanoke Asset Management Corp: assets under management

The assets under management (AUM) of Roanoke Asset Management Corp is $254.99 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $254.99 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.26 million each.

Investments

The firm invests in exchange traded securities the most. They account for 82% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in investment grade corporate bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Roanoke Asset Management Corp for their services and products based on a percentage of assets under management and performance-based 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 Edwin George Vroom serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Edwin George Vroom is high net worth individuals with 49 clients and $190.24 million of assets under management. Among the 5 most similar advisory firms, Roanoke Asset Management Corp has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $236.13 million for 65 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.

Roanoke Asset Management Corp also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Roanoke Asset Management Corp

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. No 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.

Edwin George Vroom has been acting as President since 1 Mar 1978. Ariadna Miller Trust 1995 joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edwin George Vroom	President	1 Mar 1978	25% - 50%	2304848
Adele Susan Weisman	Senior v.p./treasurer/chief compliance officer	1 Sep 1981	25% - 50%	2304850
G. William Miller	Shareholder	1 Jan 1987	Other	4347800
Stuart G. Brown	Shareholder	1 Dec 1997	Other	4346428
Ariadna Miller Trust 1995	Shareholder	1 Jan 2007	Other	xxx-xx-xxxx

Based in Jersey City

The principal office where Roanoke Asset Management Corp performs its advisory services is located at Harborside 5, Jersey City, NJ 07311 1213, 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 201-985-1111 or by fax 201-985-1200. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at roanokeasset.com.