Bermuda Investment Advisory Services Limited (Hamilton)

Name: Bermuda Investment Advisory Services Limited
Address: Wessex House, 2 Nd Flr, Hamilton, Hm12
Telephone: 441-292-4292

Bermuda Investment Advisory Services Limited is a large advisory firm based in Hamilton. It manages $213.28 million of regulatory assets for 202 client accounts. It has been registered with the SEC as an adviser since 2002.

Bermuda Investment Advisory Services Limited provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bermuda Investment Advisory Services Limited: assets under management

The assets under management (AUM) of Bermuda Investment Advisory Services Limited is $213.28 million. The firm's AUM has gone down by -15% since the beginning of its operation, and $199.08 million of the total AUM is attributable to clients outside of the United States.

The firm manages $154.31 million in discretionary accounts and $58.97 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.37 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $430.45 thousand.

Investments

The firm invests in other assets the most. They account for 43% of the total AUM. The second-largest asset type is exchange traded securities, which make up 27% of the firm’s portfolio. Investments in investment grade corporate bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bermuda Investment Advisory Services Limited for their services and products based on a percentage of assets under management and commissions. 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 Mark Joseph Melvin serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Mark Joseph Melvin is high net worth individuals with 65 clients and $154.31 million of assets under management. Among the 10 most similar advisory firms, Bermuda Investment Advisory Services Limited has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $204.44 million for 200 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 97% of the firm’s clients are foreign persons or businesses.

Bermuda Investment Advisory Services Limited doesn't advise any private funds.

Careers at Bermuda Investment Advisory Services Limited

The company employs 9 people that are either part- or full-time employees. 44 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.

Mark Joseph Melvin has been acting as President since 1 Aug 1994. Joseph Michael Sroka joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Reese Pires	Ceo	1 Apr 1992	75% - 100%	4558295
Mark Joseph Melvin	Director/chief compliance officer	1 Aug 1994	Other	4558293
Jose Fernando Costa Barbosa	Chief financial officer	1 Jun 2018	Other	7014839
Gun Ingela Margareta Persson	Director	1 Feb 2019	Other	7177778
Joseph Michael Sroka	Director	1 Jul 2019	Other	2281069

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Robert Reese Pires	Shareholder	1 Oct 2016	75% - 100%	4558295

Based in Hamilton

The principal office where Bermuda Investment Advisory Services Limited performs its advisory services is located at Wessex House, 2 Nd Flr, Hamilton, Hm12 The mailing address of the firm is P.O. Box Hm 988, Hamilton, Hm Dx. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 441-292-4292 or by fax 441-292-7292. The normal business hours are 8:30 - 5:30 on Monday - Friday. You can find more information about the New York firm at bias.bm.