Henry H. Armstrong Associates, Inc. (Pittsburgh)

Name: Henry H. Armstrong Associates, Inc.
Address: One Gateway Center, Pittsburgh, PA, 15222
Telephone: 412-471-1551

Henry H. Armstrong Associates, Inc. is a large advisory firm based in Pittsburgh. It manages $710.79 million of regulatory assets for 136 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Maine, and 4 other states.

Henry H. Armstrong Associates provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for pooled investment vehicles. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Henry H. Armstrong Associates: assets under management

The assets under management (AUM) of Henry H. Armstrong Associates, Inc. is $710.79 million. The firm's AUM has grown by 100% since the beginning of its operation, and $5.7 million of the total AUM is attributable to clients outside of the United States.

The firm manages $710.04 million in discretionary accounts and $752.64 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.26 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $752.64 thousand.

Henry H. Armstrong Associates has custody of $134.68 million in cash and securities for 44 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 86% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 11% of the firm’s portfolio. Investments in investment and business development companies form 1% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Henry H. Armstrong Associates, Inc. for their services and products based on a percentage of assets under management. 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 James Mckay Armstrong serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of James Mckay Armstrong is high net worth individuals with 99 clients and $605.01 million of assets under management. Among the 9 most similar advisory firms, Henry H. Armstrong Associates has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $710.79 million for 136 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.

Henry H. Armstrong Associates also advises several private funds. Namely, two private equity funds. The minimum investment commitment required of non-related persons ranges from $50,000 to $100,000.

Careers at Henry H. Armstrong Associates, Inc.

The company employs 5 people that are either part- or full-time employees. 80 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

James Mckay Armstrong has been acting as President since 1 Jan 1998. Peter D Eberhart joined the executive team most recently as the Managing Director / Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Mckay Armstrong	President	1 Jan 1998	75% - 100%	4365995
Amy Chefitz Bass	Vice president	1 Jan 1998	Other	1646779
John Walter Rosston	Vice president	1 Jul 1999	Other	712670
Richard A Mclaughlin	Senior vice president	1 Apr 2001	Other	4446121
Adam P Scholl	Senior vice president	1 Apr 2001	Other	4446122
Amy Chefitz Bass	Chief compliance officer	1 Jan 2002	Other	1646779
Michael J Maglio	Managing director	1 Aug 2008	Other	5589158
Adam P Scholl	Svp	1 Feb 2009	Other	4446122
Noreen Keating Wnorowski	Vice president	1 Nov 2009	Other	1247263
Peter D Eberhart	Managing director	1 Nov 2009	Other	5736248
Peter D Eberhart	Managing director / chief compliance officer	1 Sep 2013	Other	5736248

Based in Pittsburgh

The principal office where Henry H. Armstrong Associates, Inc. performs its advisory services is located at One Gateway Center, Pittsburgh, PA 15222, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 412-471-1551 or by fax 412-471-7828. The normal business hours are 8:30 - 5:30 on Monday - Friday. You can find more information about the New York firm at henryarmstrong.com.