Kls Professional Advisors Group, LLC (New York)


Kls Professional Advisors Group, LLC is a large advisory firm based in New York. It manages $5.85 billion of regulatory assets for 8,729 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Colorado, Connecticut, and 15 other states.

Kls Professional Advisors Group provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Kls Professional Advisors Group: assets under management

The assets under management (AUM) of Kls Professional Advisors Group, LLC is $5.85 billion. The firm's AUM has grown by 107% since the beginning of its operation, and $176.99 million of the total AUM is attributable to clients outside of the United States.

The firm manages $5.34 billion in discretionary accounts and $512.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $918.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $175.44 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 83% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 7% of the firm’s portfolio. Investments in state and local bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kls Professional Advisors Group, LLC for their services and products based on hourly charges and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Carlton Barry Klapper serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Carlton Barry Klapper is high net worth individuals with 754 clients and $5.73 billion of assets under management. Among the 10 most similar advisory firms, Kls Professional Advisors Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $5.85 billion for 967 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.

Kls Professional Advisors Group doesn't advise any private funds.

Careers at Kls Professional Advisors Group, LLC

The company employs 55 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 7 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.

Carlton Barry Klapper has been acting as President since 1 Nov 2004. Steven Michael Gaven joined the executive team most recently as the Board Member.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Carlton Barry Klapper Director 1 Nov 2004 Other 1385084
Arthur Neal Langhaus Chief financial officer 1 Nov 2004 Other 1971873
Robert Michael Schorr Chief executive officer 1 Nov 2004 Other 1385082
Kls Professional Advisors Group Inc Managing member 1 Nov 2004 75% - 100% 105122
Inc. Kls Advisors Holdings Member 1 Nov 2004 Other 11-2939855
Alan Joseph Brod Managing director; director 1 Nov 2004 Other 2155192
Inc. Boston Private Financial Holdings Managing member 1 Dec 2004 75% - 100% 04-2976299
Walter Pressey Director 1 Dec 2004 Other 4355563
Joseph Henry Cromarty Director 1 Dec 2004 Other 2351673
Margaret Warner Chambers Director 1 Apr 2006 Other 3047999
Margaret Warner Chambers Director 1 Jan 2009 Other 3047999
Gary Peter Sica Managing director 1 Jan 2009 Other 6296159
Clayton George Deutsch Director 1 Oct 2010 Other 5860322
Gary Peter Sica Chief operating officer 1 Jan 2014 Other 6296159
Steven Scott Goldstein Chief compliance officer 1 Dec 2014 Other 2293235
Gary Peter Sica Chief executive officer 1 Mar 2016 Other 6296159
Margaret Warner Chambers Chief compliance officer 1 Aug 2016 Other 3047999
Georgia Mari Pangle Board member 1 Sep 2016 Other 6397631
Sean Casey Chief compliance officer 1 Feb 2017 Other 4070866
Steven Michael Gaven Board member 1 Jan 2019 Other 5855690
Anthony Dechellis Board member 1 Jan 2019 Other 1342685

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Carlton Barry Klapper Owner 1 Mar 1989 25% - 50% 1385084
Arthur Neal Langhaus Owner 1 Mar 1989 25% - 50% 1971873
Robert Michael Schorr Owner 1 Mar 1989 25% - 50% 1385082

Based in New York

The principal office where Kls Professional Advisors Group, LLC performs its advisory services is located at 1325 Avenue Of The Americas, New York, NY 10019, which is also the mailing address of the firm. An additional office of the firm is in Los Angeles, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-355-0346 or by fax 212-355-0413. The normal business hours are 9 a.m. to 5:30 pm on Monday - Friday. You can find more information about the New York firm at klsadvisors.com.

Registered investment advisers similar to Kls Professional Advisors Group, LLC