Hickory Asset Management, Inc. (Concord)

Name: Hickory Asset Management, Inc.
Address: 9930 Johnnycake Ridge Road, Concord, OH, 44060
Telephone: 440-358-1330

Hickory Asset Management, Inc. is a large advisory firm based in Concord. It manages $152.6 million of regulatory assets for 818 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Florida, Ohio, and Texas.

Hickory Asset Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Hickory Asset Management: assets under management

The assets under management (AUM) of Hickory Asset Management, Inc. is $152.6 million. The firm's AUM has grown by 45% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $146.46 million in discretionary accounts and $6.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $179.92 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.54 million.

Investments

The firm invests in investment and business development companies the most. They account for 82% of the total AUM. The second-largest asset type is exchange traded securities, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hickory Asset Management, 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 Daniel Gilbert Lescoezec serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Daniel Gilbert Lescoezec is individuals with 217 clients and $72.96 million of assets under management. Among the 8 most similar advisory firms, Hickory Asset Management has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $152.6 million for 261 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.

Hickory Asset Management doesn't advise any private funds.

Careers at Hickory Asset Management, Inc.

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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.

Daniel Gilbert Lescoezec has been acting as President since 1 Dec 2002. Llc Bluespring Wealth Partners joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Gilbert Lescoezec	President	1 Dec 2002	75% - 100%	1858011
Ryan Robert Robaugh	Chief compliance officer	1 Nov 2007	Other	4249709
Llc Bluespring Wealth Partners	Owner	1 Jul 2019	75% - 100%	82-1255865
James Lynn Poer	Vice president	1 Jul 2019	Other	1983357
John Patrick Vanderheyden	Vice president	1 Jul 2019	Other	2235802
Joel Van Bennett	Vice president	1 Jul 2019	Other	2047878
Robert Bredt Norwood	Vice president & assistant secretary	1 Jul 2019	Other	2536685
Yin Yin	Secretary	1 Jul 2019	Other	3219513
Lori Ann Markham	Assistant secretary	1 Jul 2019	Other	7098304

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Kestra Advisor Services Holding C	Owner	1 Jun 2014	75% - 100%	47-1573405
Inc. Kestra Advisor Services Holding B	Owner	1 Jun 2014	75% - 100%	47-1585299
Inc. Kestra Advisor Services Holding A	Owner	1 Jun 2014	75% - 100%	47-1595804
Inc. Kingfisher Holding B	Owner	1 Jun 2019	75% - 100%	83-3798493
Inc. Kingfisher Holding A	Owner	1 Jun 2019	75% - 100%	83-3797972
L.P. Kingfisher Holding	Owner	1 Jun 2019	75% - 100%	83-3788640
L.P. Warburg Pincus Financial Sector	Limited partner	1 Jun 2019	25% - 50%	82-1919654
Inc. Kestra Financial	Owner	1 Jul 2019	75% - 100%	82-1255865

Based in Concord

The principal office where Hickory Asset Management, Inc. performs its advisory services is located at 9930 Johnnycake Ridge Road, Concord, OH 44060, 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 440-358-1330 or by fax 440-350-1465. The normal business hours are 8:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at hickoryassetmanagement.com.