Hgk Asset Management Inc (Jersey City)


Hgk Asset Management Inc is a large advisory firm based in Jersey City. It manages $1.63 billion of regulatory assets for 124 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Hgk Asset Management 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.

Hgk Asset Management: assets under management

The assets under management (AUM) of Hgk Asset Management Inc is $1.63 billion. The firm's AUM has gone down by -31% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.63 billion in discretionary accounts and $1.26 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $13.25 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.26 million.
Hgk Asset Management has custody of $439.11 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 70% of the total AUM. The second-largest asset type is government bonds, which make up 16% of the firm’s portfolio. Investments in investment grade corporate bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hgk Asset Management Inc 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 Jeffrey Theodore Harris serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Jeffrey Theodore Harris is pension and profit sharing plans with 72 clients and $928.37 million of assets under management. Among the 4 most similar advisory firms, Hgk Asset Management has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $1.61 billion for 124 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.

Hgk Asset Management also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons ranges from $50,000 to $1,000,000.

Careers at Hgk Asset Management Inc

The company employs 20 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. 2 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Jeffrey Theodore Harris has been acting as President since 1 Apr 2004. David Hauck joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Jeffrey Theodore Harris Chairman emeritus 1 Jun 1983 25% - 50% 237966
Carol Ann Bandille Managing director 1 Jan 1997 Other 5121533
Gregory Lobo Managing director/fixed income investments 1 Jan 1997 Other 2718522
Hgk Employee Stock Ownership Plan Esop 1 Dec 1997 50% - 75% 22-3486413
Joseph Edward Kutzel (retired) managing director 1 Jul 2000 25% - 50% 277037
Joseph Edward Estate Of Kutzel Estate of deceased managing director 1 Jul 2000 Other 277037
Arthur Coia Chief operating officer 1 Nov 2000 Other 2850753
Michael Pendergast Managing director/equity investments/chief executive officer (11/2012) 1 Jan 2001 Other 4347322
Jeffrey Theodore Harris President 1 Jan 2001 25% - 50% 237966
David Hauck Chief operating officer / chief compliance officer 1 Apr 2001 Other 2850753
Jeffrey Theodore Harris Chairman 1 Apr 2004 25% - 50% 237966
Arthur Coia President and chief compliance officer 1 Apr 2004 Other 2850753
Martin John Maddaloni Managing director 1 Dec 2004 Other 2958549
Jeffrey Theodore Harris Limited partner of hgk trinity street international equity fund gp 1 Dec 2009 25% - 50% 237966
Michael Pendergast Limited partner of hgk trinity street international equity fund gp 1 Dec 2009 Other 4347322
David Hauck Limited partner of hgk trinity street international equity fund gp 1 Dec 2009 Other 2850753
Hgk Employee Stock Ownership Plan Limited partner of hgk trinity street international equity fund gp 1 Dec 2009 50% - 75% 22-3486413
Carol Ann Bandille Limited partner of hgk trinity street international equity fund gp 1 Dec 2009 Other 5121533
Michael Alan Sandler Chief compliance officer 1 Jan 2011 Other 2833578
David Hauck Chief operating officer 1 Jun 2013 Other 2850753
Jeffrey Theodore Harris Chairman emeritus 1 Mar 2017 25% - 50% 237966

Based in Jersey City

The principal office where Hgk Asset Management Inc performs its advisory services is located at Newport Tower, Jersey City, NJ 07310, 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 201-659-3700 or by fax 201-659-4566. The normal business hours are 8:00 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at hgk.com.

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