Round Table Services, LLC (Westfield)

Round Table Services, LLC is a large advisory firm based in Westfield. It manages $1.01 billion of regulatory assets for 912 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Connecticut, Florida, Maryland, and 6 other states.

Round Table Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and publication of newsletters. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Round Table Services: assets under management

The assets under management (AUM) of Round Table Services, LLC is $1.01 billion. The firm's AUM has grown by 827% since the beginning of its operation, and $57.78 million of the total AUM is attributable to clients outside of the United States.

The firm manages $881.89 million in discretionary accounts and $130.27 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.37 million.

Round Table Services has custody of $300 million in cash and securities for 115 clients in total but doesn’t act as a qualified custodian.

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 other assets, which make up 16% of the firm’s portfolio. Investments in exchange traded securities form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Round Table Services, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Round Table Services serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Round Table Services is high net worth individuals with 148 clients and $926.35 million of assets under management. Among the 6 most similar advisory firms, Round Table Services has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.01 billion for 202 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Round Table Services also advises several private funds. Namely, two private equity funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $1,000,000.

Careers at Round Table Services, LLC

The company employs 19 people that are either part- or full-time employees. 84 percent of the employees work as investment advisers or researchers. 16 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Robert Clifford Davis has served as the Chief Investment Officer since 1 Apr 2006. Bruce Allen Hyde joined the executive team most recently as the Partner, Chief Compliance Officer, Wealth Advisor.

Direct owners and executive officers

Based in Westfield

The principal office where Round Table Services, LLC performs its advisory services is located at 241 North Avenue W, Westfield, NJ 07090, 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 908-789-7310 or by fax 908-374-2590. The normal business hours are 8:30am-5:00pm on Monday - Friday. You can find more information about the New York firm at roundtableservices.com.

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