Annex Advisory Services, LLC (Elm Grove)

Name: Annex Advisory Services, LLC
Address: 12700 W Bluemound Road, Elm Grove, WI, 53122
Telephone: 262-786-6363

Annex Advisory Services, LLC is a large advisory firm based in Elm Grove. It manages $2.21 billion of regulatory assets for 10,304 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, California, Colorado, and 12 other states.

Annex Advisory Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, educational seminars and workshops, and consultation for a fee. It prepares financial plans for approximately 5,000 clients. On top of advisory services, the firm also engages as tax preparation services.

Annex Advisory Services: assets under management

The assets under management (AUM) of Annex Advisory Services, LLC is $2.21 billion. The firm's AUM has grown by 7808% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.02 billion in discretionary accounts and $185.22 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $198.21 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.93 million.

Investments

The firm invests in investment and business development companies the most. They account for 61% of the total AUM. The second-largest asset type is exchange traded securities, which make up 29% of the firm’s portfolio. Investments in non-exchange traded securities form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Annex Advisory Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David Joseph Spano serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of David Joseph Spano is high net worth individuals with 1,054 clients and $1.02 billion of assets under management. Among the 8 most similar advisory firms, Annex Advisory Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.2 billion for 5,209 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.

Annex Advisory Services doesn't advise any private funds.

Careers at Annex Advisory Services, LLC

The company employs 65 people that are either part- or full-time employees. 54 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people 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.

David Joseph Spano has been acting as President since 1 Jul 2003. Mark Michael Oswald joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Joseph Spano	Member/president	1 Jul 2003	75% - 100%	1811176
Mark Michael Oswald	Chief compliance officer	1 Jul 2003	Other	2023553
Llc Annex Wealth Management	Owner	1 Jul 2003	75% - 100%	68-0524298

Based in Elm Grove

The principal office where Annex Advisory Services, LLC performs its advisory services is located at 12700 W Bluemound Road, Elm Grove, WI 53122, which is also the mailing address of the firm. An additional office of the firm is in Appleton, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 262-786-6363 or by fax 262-792-8930. The normal business hours are 8:00am - 5:00pm ct on Monday - Friday. You can find more information about the New York firm at annexadvisors.com.