Sgroi Wealth Advisory Group LLC (West Seneca)

Name: Sgroi Wealth Advisory Group LLC
Address: 965 Union Road, West Seneca, NY, 14224
Telephone: 716-674-6700

Sgroi Wealth Advisory Group LLC is a large advisory firm based in West Seneca. It manages $295.58 million of regulatory assets for 1,716 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Georgia, Illinois, and 6 other states.

Sgroi Wealth Advisory Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Sgroi Wealth Advisory Group: assets under management

The assets under management (AUM) of Sgroi Wealth Advisory Group LLC is $295.58 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $295.58 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $172.25 thousand each.

Sgroi Wealth Advisory Group has custody of $277.49 million in cash and securities for 1,466 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 90% of the total AUM. The second-largest asset type is exchange traded securities, which make up 10% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sgroi Wealth Advisory Group 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 Patrick Joseph Sgroi serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Patrick Joseph Sgroi is individuals with 1,702 clients and $275.1 million of assets under management. Among the 8 most similar advisory firms, Sgroi Wealth Advisory Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $295.58 million for 1,716 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.

Sgroi Wealth Advisory Group doesn't advise any private funds.

Careers at Sgroi Wealth Advisory Group LLC

The company employs 23 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Patrick Joseph Sgroi has been acting as President since 1 Oct 2017. John Gerald Clouden joined the executive team most recently as the Chief Compliance Officer And Senior Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Patrick Joseph Sgroi	President	1 Oct 2017	50% - 75%	2226276
John Gerald Clouden	Chief compliance officer and senior vice president	1 Oct 2017	25% - 50%	2563999

Based in West Seneca

The principal office where Sgroi Wealth Advisory Group LLC performs its advisory services is located at 965 Union Road, West Seneca, NY 14224, 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 716-674-6700 or by fax 716-674-6822. The normal business hours are 8:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at sgroifinancial.com.