Leumi Investment Services Inc. (New York)

Name: Leumi Investment Services Inc.
Address: 350 Madison Ave., New York, NY, 10017
Telephone: 212-407-4353

Leumi Investment Services Inc. is a large advisory firm based in New York. It manages $95.63 million of regulatory assets for 467 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Florida, Illinois, and 5 other states.

Leumi Investment Services provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Leumi Investment Services: assets under management

The assets under management (AUM) of Leumi Investment Services Inc. is $95.63 million. The firm's AUM has gone down by -16% since the beginning of its operation, and $3.81 million of the total AUM is attributable to clients outside of the United States.

The firm manages $26.38 million in discretionary accounts and $69.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $221.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $199.01 thousand.

Investments

The firm invests in state and local bonds the most. They account for 54% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in non-investment grade corporate bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Leumi Investment Services 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 Avner Mendelson serves?

The firm provides services to high net worth individuals and corporations or other businesses. The largest group of clients of Avner Mendelson is high net worth individuals with 134 clients and $76.05 million of assets under management. Among the 7 most similar advisory firms, Leumi Investment Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $78.88 million for 142 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 4% of the firm’s clients are foreign persons or businesses.

Leumi Investment Services doesn't advise any private funds.

Careers at Leumi Investment Services Inc.

The company employs 73 people that are either part- or full-time employees. 47 percent of the employees work as investment advisers or researchers. 33 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.

Avner Mendelson has been acting as President since 1 Aug 2013. George Allen Iii Boyan joined the executive team most recently as the President / Ceo.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bank Leumi Usa	Shareholder	1 Aug 2000	75% - 100%	13-2614394
Ian Nessim Bernstein	President / ceo	1 Jul 2013	Other	1435601
Avner Mendelson	Director	1 Aug 2013	Other	6250000
Charles Dean Johnston	Director	1 Jul 2014	Other	861838
Simon Bruce Jawitz	Director	1 Jul 2014	Other	2191039
Christopher Michael Wilson	Chief compliance officer	1 Oct 2015	Other	5163915
Sean Patrick Concannon	Fin/op, cfo	1 Feb 2018	Other	5364102
Hanan Shmoel Friedman	Director	1 Feb 2018	Other	6929814
Andrew Louis Esq. Sherman	General counsel, corporate secretary	1 Sep 2018	Other	1723543
George Allen Iii Boyan	President / ceo	1 Oct 2018	Other	5373503

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Bank Leumi Le Israel Corp.	Shareholder	1 Aug 2000	75% - 100%	13-3171509
Bank Leumi Le Israel B.M.	Shareholder	1 Aug 2000	75% - 100%	13-5559251

Based in New York

The principal office where Leumi Investment Services Inc. performs its advisory services is located at 350 Madison Ave., New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-407-4353 or by fax 212-407-4351. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at leumiusa.com.