Budd, Melone & Co. LLC (Auburn Hills)

Name: Budd, Melone & Co. LLC
Address: 3121 University Drive, Auburn Hills, MI, 48326
Telephone: (248) 499-8704

Budd, Melone & Co. LLC is a large advisory firm based in Auburn Hills. It manages $173.93 million of regulatory assets for 649 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Michigan, Tennessee, and Texas.

Budd, Melone & provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Budd, Melone &: assets under management

The assets under management (AUM) of Budd, Melone & Co. LLC is $173.93 million. The firm's AUM has grown by 14% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $154.87 million in discretionary accounts and $19.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $240.85 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.18 million.

Budd, Melone & has custody of $12.71 million in cash and securities for 2 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 62% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Budd, Melone & Co. LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Budd, Melone & serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Budd, Melone & is high net worth individuals with 67 clients and $119.27 million of assets under management. Among the 8 most similar advisory firms, Budd, Melone & has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $173.93 million for 222 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.

Budd, Melone & doesn't advise any private funds.

Careers at Budd, Melone & Co. LLC

The company employs 4 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 2 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

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Gilbert Budd	Managing member	1 May 2017	50% - 75%	2581569
Louis J Melone	Managing member and chief compliance officer	1 May 2017	50% - 75%	2700797

Based in Auburn Hills

The principal office where Budd, Melone & Co. LLC performs its advisory services is located at 3121 University Drive, Auburn Hills, MI 48326, which is also the mailing address of the firm. An additional office of the firm is in Franklin, TN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (248) 499-8704 or by fax (248) 499-8721. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at buddmelone.com.