Fusion Investment Group, LLC (Canonsburg)


Fusion Investment Group, LLC is a large advisory firm based in Canonsburg. It manages $91.87 million of regulatory assets for 73 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of California, Colorado, Florida, and 5 other states.

Fusion Investment Group provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, 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.

Fusion Investment Group: assets under management

The assets under management (AUM) of Fusion Investment Group, LLC is $91.87 million. The firm's AUM has grown by 735% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $81.39 million in discretionary accounts and $10.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.51 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $551.96 thousand.
Fusion Investment Group has custody of $1.6 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 50% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 24% of the firm’s portfolio. Investments in exchange traded securities form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fusion Investment Group, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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.

What kind of clients Richard Scott Umstead serves?

The firm provides services to high net worth individuals and state or municipal government entities. The largest group of clients of Richard Scott Umstead is state or municipal government entities with 13 clients and $51.66 million of assets under management. Among the 9 most similar advisory firms, Fusion Investment Group has the highest percentage of state or municipal government entities out of all clients.

The amount of regulatory assets under management is $62.9 million for 38 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.

Fusion Investment Group also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Fusion Investment Group, LLC

The company employs 4 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 2 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.

Richard Scott Umstead has been acting as President since 1 Aug 2010. Rayliant Global Advisers Ltd. joined the executive team most recently as the Owner.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Scott Timothy Dooley Founder/ceo/cio/cco 1 Dec 2008 Other 4225054
William Clifford Mcnary Chief compliance officer/coo 1 Dec 2008 Other 1509639
Llc Fusion Management Group Member 1 Jul 2009 75% - 100% 27-0598086
Richard Scott Umstead President/ceo 1 Aug 2010 Other 817733
Brian Scott Sommers Cco, portfolio manager 1 Oct 2013 Other 1487020
George F Matta Managing director 1 Jan 2017 Other 6933511
Rayliant Global Advisers Ltd. Owner 1 Jun 2018 75% - 100% 98-1048678

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
Jason Hsu Managing member 1 Apr 2005 75% - 100% 4923405
Scott Timothy Dooley Managing member 1 Jul 2009 75% - 100% 4225054
William Clifford Mcnary Managing member 1 Jul 2009 50% - 75% 1509639
Llc Veritas Liberabit Vos Owner 1 Jun 2018 25% - 50% xxx
Percival Knights Investment Partners Owner 1 Jun 2018 25% - 50% xxx

Based in Canonsburg

The principal office where Fusion Investment Group, LLC performs its advisory services is located at 1900 Main Street, Canonsburg, PA 15317, 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 4123253970 or by fax 866-728-1798. The normal business hours are 9 am-5 pm on Monday - Friday. You can find more information about the New York firm at fusioninv.com.