Bernard Caroli Wealth Management Inc. (Rumson)


Bernard Caroli Wealth Management Inc. is a large advisory firm based in Rumson. It manages $126.66 million of regulatory assets for 275 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Maryland, New Jersey, and New York.

Bernard Caroli Wealth Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bernard Caroli Wealth Management: assets under management

The assets under management (AUM) of Bernard Caroli Wealth Management Inc. is $126.66 million. The firm's AUM has grown by 23% since the beginning of its operation, and $102.99 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $125.9 million in discretionary accounts and $756.13 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $459.49 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $756.13 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 55% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 23% of the firm’s portfolio. Investments in investment and business development companies form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bernard Caroli Wealth Management Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 Bernard Caroli Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Bernard Caroli Wealth Management is high net worth individuals with 53 clients and $110.1 million of assets under management. Among the 9 most similar advisory firms, Bernard Caroli Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $122.79 million for 123 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Bernard Caroli Wealth Management doesn't advise any private funds.

Careers at Bernard Caroli Wealth Management Inc.

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Christopher Paul Bernard Chief compliance officer, director, vice president, shareholder 1 Jun 2009 25% - 50% 4887587
John Arthur Caroli Director, president and shareholder 1 Jun 2009 25% - 50% 2756888
David Baker Schiff Director, secretary and shareholder 1 Jun 2009 Other 4898283
Craig David Cummings Director and shareholder 1 Feb 2018 25% - 50% 2002983

Based in Rumson

The principal office where Bernard Caroli Wealth Management Inc. performs its advisory services is located at 47 West River Road, Rumson, NJ 07760, 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 732-291-7272 or by fax 732-289-9259. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at bc-wm.com.

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