Droms Strauss Advisors Inc (St. Louis)

Name: Droms Strauss Advisors Inc
Address: 501 North Lindbergh Boulevard, St. Louis, MO, 63141 7844
Telephone: 314-862-9100

Droms Strauss Advisors Inc is a large advisory firm based in St. Louis. It manages $434.95 million of regulatory assets for 982 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Georgia, and 10 other states.

Droms Strauss Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and estate & tax planning. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Droms Strauss Advisors: assets under management

The assets under management (AUM) of Droms Strauss Advisors Inc is $434.95 million. The firm's AUM has grown by 622% since the beginning of its operation, and $32.88 million of the total AUM is attributable to clients outside of the United States.

The firm manages $431.24 million in discretionary accounts and $3.71 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $439.6 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.71 million.

Droms Strauss Advisors has custody of $36.42 million in cash and securities for 43 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 87% of the total AUM. The second-largest asset type is exchange traded securities, which make up 4% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Droms Strauss Advisors 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.

What kind of clients Droms Strauss Advisors 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 Droms Strauss Advisors is high net worth individuals with 120 clients and $344.25 million of assets under management. Among the 10 most similar advisory firms, Droms Strauss Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $434.95 million for 300 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

Droms Strauss Advisors doesn't advise any private funds.

Careers at Droms Strauss Advisors Inc

The company employs 8 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William George Droms	Co-chairman & chief investment officer	1 Jul 1995	50% - 75%	1177848
Steven Norman Strauss	Co-chairman, chief executive officer & chief compliance officer	1 Jul 1995	50% - 75%	3192522
Steven N Strauss	Vice president	1 Jul 1995	50% - 75%	3192522
Anthony Ziad Gennaoui	Vice president	1 Dec 2016	25% - 50%	4700026
Rachel Strauss Rosen	Secretary & treasurer	1 Jan 2018	Other	6915804

Based in St. Louis

The principal office where Droms Strauss Advisors Inc performs its advisory services is located at 501 North Lindbergh Boulevard, St. Louis, MO 63141 7844, 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 314-862-9100 or by fax 314-862-4001. The normal business hours are 8:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at droms-strauss.com and its LinkedIn profile.