Hollow Brook Wealth Management LLC (Katonah)

Name: Hollow Brook Wealth Management LLC
Address: 152 Bedford Road, Katonah, NY, 10536
Telephone: 212-364-1840

Hollow Brook Wealth Management LLC is a large advisory firm based in Katonah. It manages $743.6 million of regulatory assets for 230 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 11 other states.

Hollow Brook Wealth Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Hollow Brook Wealth Management: assets under management

The assets under management (AUM) of Hollow Brook Wealth Management LLC is $743.6 million. The firm's AUM has grown by 127% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $149.4 million in discretionary accounts and $594.2 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $766.15 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $16.98 million.

Hollow Brook Wealth Management has custody of $95.2 million in cash and securities for 30 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 55% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 22% of the firm’s portfolio. Investments in cash and cash equivalents form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hollow Brook Wealth Management LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Edgar Wayne Nordberg serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Edgar Wayne Nordberg is high net worth individuals with 170 clients and $622.9 million of assets under management. Among the 12 most similar advisory firms, Hollow Brook Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $743.5 million for 229 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.

Hollow Brook Wealth Management doesn't advise any private funds.

Careers at Hollow Brook Wealth Management LLC

The company employs 10 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Edgar Wayne Nordberg has been acting as President since 1 Jan 1999. David Adam Oring joined the executive team most recently as the Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edgar Wayne Nordberg	Chairman	1 Jan 1999	25% - 50%	349020
Philip Ernst Richter	Co-chief executive officer	1 Jan 2013	Other	4881470
Alan Lee Bazaar	Co-chief executive officer	1 Jan 2013	Other	6045296
Philip Ernst Richter	Chief compliance officer	1 Feb 2013	25% - 50%	4881470
Philip Ernst Richter	President	1 Jan 2014	25% - 50%	4881470
Alan Lee Bazaar	Ceo	1 Jan 2014	25% - 50%	6045296
David Adam Oring	Vice president	1 Feb 2015	Other	2522864

Based in Katonah

The principal office where Hollow Brook Wealth Management LLC performs its advisory services is located at 152 Bedford Road, Katonah, NY 10536, 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 212-364-1840 or by fax 212-364-1849. The normal business hours are 8am -6pm on Monday - Friday. You can find more information about the New York firm at hballc.com.