Innovest Financial Management Inc (Pittsburgh)

Innovest Financial Management Inc is a large advisory firm based in Pittsburgh. It manages $81.39 million of regulatory assets for 196 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, Colorado, Connecticut, and 10 other states.

Innovest Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and market timing services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Innovest Financial Management: assets under management

The assets under management (AUM) of Innovest Financial Management Inc is $81.39 million. The firm's AUM has grown by 65% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $51.59 million in discretionary accounts and $29.79 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $339.44 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $677.11 thousand.

Innovest Financial Management has custody of $19.99 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Innovest Financial Management Inc for their services and products based on a percentage of assets under management and fixed 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.

Careers at Innovest Financial Management Inc

Gary Paul Droz has been acting as President since 1 Apr 2000. David Turbiner joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Gary Paul Droz	President	1 Apr 2000	Other	1081511
Scott Thomas Werner	Chief compliance officer	1 Apr 2000	Other	3098532
Robert Steven Zuccarro	Treasurer, director	1 Apr 2000	Other	4240378
National Financial Partners Corp.	Shareholder	1 Dec 2000	75% - 100%	13-4029115
David Turbiner	Chief compliance officer	1 Mar 2007	Other	5316506

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
L.P. ("Apollo Fund") Apollo Investment Fund Iv	Shareholder	1 Dec 2000	25% - 50%	13-3985622
L.P. Apollo Advisors Iv	General partner	1 Dec 2000	Other	13-3582975
Inc. Apollo Capital Management Iv	General partner	1 Dec 2000	Other	13-3983721

Based in Pittsburgh

The principal office where Innovest Financial Management Inc performs its advisory services is located at 4916 Liberty Ave., Pittsburgh, PA 15224, 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 412-391-7174 or by fax 412-391-7860. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday.