Old Mission Investment Company, LLC (Traverse City)


Old Mission Investment Company, LLC is a large advisory firm based in Traverse City. It manages $410.08 million of regulatory assets for 1,568 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of California, Florida, Illinois, and 3 other states.

Old Mission Investment Company provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, and consultation services. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Old Mission Investment Company: assets under management

The assets under management (AUM) of Old Mission Investment Company, LLC is $410.08 million. The firm's AUM has grown by 86% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $374.58 million in discretionary accounts and $35.5 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $239.2 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $17.75 million.

Investments

The firm invests in investment and business development companies the most. They account for 70% of the total AUM. The second-largest asset type is government bonds, which make up 10% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Old Mission Investment Company, 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 Old Mission Investment Company serves?

The firm provides services to individuals, insurance companies, charitable organizations, and high net worth individuals. The largest group of clients of Old Mission Investment Company is high net worth individuals with 121 clients and $269.85 million of assets under management. Among the 5 most similar advisory firms, Old Mission Investment Company has the lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $410.08 million for 688 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.

Old Mission Investment Company doesn't advise any private funds.

Careers at Old Mission Investment Company, LLC

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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
Daniel Adam Bernstein Managing member / chief compliance officer 1 Apr 2006 75% - 100% 2531346
Jeffrey Allen Johnson Managing member / chief compliance officer 1 May 2006 25% - 50% 3048003
Christopher Mundt Lamb Managing member 1 May 2006 25% - 50% 2412619
Kurt Austin Schuler Managing member 1 May 2006 25% - 50% 2253788
Robert Wayne Stibbs Managing member 1 May 2006 25% - 50% 1855098
Joseph Stanley Novak Managing member 1 May 2006 Other 349612
Diane Marie Crandall Managing member 1 Nov 2006 Other 1420128

Based in Traverse City

The principal office where Old Mission Investment Company, LLC performs its advisory services is located at 880 Munson Avenue, Traverse City, MI 49686, which is also the mailing address of the firm. An additional office of the firm is in Alpena, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 231-929-4100 or by fax 231-929-4190. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at omico.net.

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