Bck Partners, Inc. (Corning)

Name: Bck Partners, Inc.
Address: 27 East Market Street, Corning, NY, 14830
Telephone: (607) 654-1182

Bck Partners, Inc. is a large advisory firm based in Corning. It manages $100.59 million of regulatory assets for 399 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Florida, Louisiana, New York, and 3 other states.

Bck Partners provides financial planning services, portfolio management for individuals and small businesses, 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.

Bck Partners: assets under management

The assets under management (AUM) of Bck Partners, Inc. is $100.59 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 65% since the beginning of its operation, and $34.94 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $100.59 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $252.09 thousand each.

Bck Partners has custody of $44.15 million in cash and securities for 69 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bck Partners, Inc. for their services and products based on a percentage of assets under management. 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 Bck Partners serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Bck Partners is high net worth individuals with 39 clients and $62.72 million of assets under management. Among the 10 most similar advisory firms, Bck Partners has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $100.59 million for 156 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Bck Partners doesn't advise any private funds.

Careers at Bck Partners, Inc.

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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.

Bck Partners, Inc. is owned by James Allen Kaffenbarger. Sarah Jean Creath joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Allen Kaffenbarger	Owner/chief compliance officer	1 May 2015	25% - 50%	4254971
Sarah Jean Creath	Owner	1 May 2015	25% - 50%	4122970
Michael Barney Bono	Owner	1 May 2015	25% - 50%	6490126

Based in Corning

The principal office where Bck Partners, Inc. performs its advisory services is located at 27 East Market Street, Corning, NY 14830, 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 (607) 654-1182. The normal business hours are 8am - 5pm on Monday - Friday. You can find more information about the New York firm at bckpartners.com.