Black Coral Financial Advisors, LLC (Mount Olive)

Black Coral Financial Advisors, LLC is a large advisory firm based in Mount Olive. It manages $515 million of regulatory assets for 1,365 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Florida, Massachusetts, New Jersey, and New York.

Black Coral Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Black Coral Financial Advisors: assets under management

The assets under management (AUM) of Black Coral Financial Advisors, LLC is $515 million. The firm's AUM has grown by 220% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $331 million in discretionary accounts and $184 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $486.76 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $268.61 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 67% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Black Coral Financial Advisors, LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Black Coral Financial Advisors serves?

The only and largest group of clients of Black Coral Financial Advisors is high net worth individuals with 226 clients and $515 million of assets under management. Among the 9 most similar advisory firms, Black Coral Financial Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $515 million for 226 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.

Black Coral Financial Advisors doesn't advise any private funds.

Careers at Black Coral Financial Advisors, LLC

The company employs 5 people that are either part- or full-time employees. 100 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 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

Based in Mount Olive

The principal office where Black Coral Financial Advisors, LLC performs its advisory services is located at 500 International Drive, Mount Olive, NJ 07828, 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 973-352-8600 or by fax 800-788-5501. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at blackcoralfa.com.

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