Abner Herrman & Brock, LLC (Jersey City)

Name: Abner Herrman & Brock, LLC
Address: Harborside 5 185 Hudson Street, Jersey City, NJ, 07311
Telephone: 201-484-2000

Abner Herrman & Brock, LLC is a large advisory firm based in Jersey City. It manages $1.92 billion of regulatory assets for 1,625 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama, California, Colorado, and 21 other states.

Abner Herrman & Brock provides portfolio management for individuals and small businesses 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.

Abner Herrman & Brock: assets under management

The assets under management (AUM) of Abner Herrman & Brock, LLC is $1.92 billion. The firm's AUM has grown by 194% since the beginning of its operation, and $11.25 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.89 billion in discretionary accounts and $32.44 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.21 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $470.2 thousand.

Investments

The firm invests in state and local bonds the most. They account for 34% of the total AUM. The second-largest asset type is exchange traded securities, which make up 29% of the firm’s portfolio. Investments in investment grade corporate bonds form 28% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Abner Herrman & Brock, LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. 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 Kevin Eric Strauss serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Kevin Eric Strauss is high net worth individuals with 1,477 clients and $1.47 billion of assets under management. Among the 11 most similar advisory firms, Abner Herrman & Brock has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.92 billion for 1,625 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.

Abner Herrman & Brock doesn't advise any private funds.

Careers at Abner Herrman & Brock, LLC

The company employs 12 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 5 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Kevin Eric Strauss has been acting as President since 1 Jan 2011. Caryn Jill Zweig joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Howard Jerome Abner	Chief compliance officer	1 Jan 2007	Other	353
Caryn Jill Zweig	Manaaging director	1 Jan 2007	Other	xxx-xx-xxxx
Herrman & Brock Inc. Abner	Managing member	1 Jan 2007	75% - 100%	22-2322415
Herrman & Brock Inc. Abner	Shareholder	1 Jan 2011	Other	22-2322415
Kevin Eric Strauss	President	1 Jan 2011	Other	2365776
Abner Trust	Shareholder	1 Jan 2011	50% - 75%	22-6927685
Caryn Jill Zweig	Chief operating officer	1 Jan 2013	Other	1883741

Based in Jersey City

The principal office where Abner Herrman & Brock, LLC performs its advisory services is located at Harborside 5 185 Hudson Street, Jersey City, NJ 07311, 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 201-484-2000 or by fax 201-435-4603. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at ahbi.com.