Cherrydale Wealth Management, LLC (New York)

Name: Cherrydale Wealth Management, LLC
Address: 17 Stuyvesant Street #12, New York, NY, 10003
Telephone: (917) 838-7507

Cherrydale Wealth Management, LLC is a mid-sized advisory firm based in New York. It manages $74.73 million of regulatory assets for 215 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Connecticut, New Jersey, and New York.

Cherrydale Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cherrydale Wealth Management: assets under management

The assets under management (AUM) of Cherrydale Wealth Management, LLC is $74.73 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 99% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $74.73 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $347.56 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is exchange traded securities, which make up 3% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cherrydale Wealth Management, LLC 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 Cherrydale Wealth Management serves?

The only and largest group of clients of Cherrydale Wealth Management is high net worth individuals with 56 clients and $73.7 million of assets under management. Among the 2 most similar advisory firms, Cherrydale Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $73.7 million for 56 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.

Cherrydale Wealth Management doesn't advise any private funds.

Careers at Cherrydale Wealth Management, LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jordan Ian Szekely	Chief compliance officer & managing member	1 Jun 2014	75% - 100%	5752557
Jordan Ian Szekely	Chief compliance officer & managing member	1 Jul 2014	75% - 100%	5752557
Jordan Ian Szekely	Chief compliance officer & managing member	1 Aug 2014	75% - 100%	5752557

Based in New York

The principal office where Cherrydale Wealth Management, LLC performs its advisory services is located at 17 Stuyvesant Street #12, New York, NY 10003 The mailing address of the firm is 909 Third Avenue, New York, NY 10150. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (917) 838-7507. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at cherrydalewm.com.