Castle Investment Advisory, LLC (Indianapolis)

Name: Castle Investment Advisory, LLC
Address: 9820 Westpoint Drive, Indianapolis, IN, 46256
Telephone: 317-849-9559

Castle Investment Advisory, LLC is a large advisory firm based in Indianapolis. It manages $282.31 million of regulatory assets for 638 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Arizona, California, Florida, and 9 other states.

Castle Investment Advisory provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Castle Investment Advisory: assets under management

The assets under management (AUM) of Castle Investment Advisory, LLC is $282.31 million. The firm's AUM has grown by 142% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $265.83 million in discretionary accounts and $16.48 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $488.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $175.27 thousand.

Castle Investment Advisory has custody of $126.19 million in cash and securities for 54 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 68% of the total AUM. The second-largest asset type is exchange traded securities, which make up 24% of the firm’s portfolio. Investments in investment grade corporate bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Castle Investment Advisory, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Castle Investment Advisory serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Castle Investment Advisory is high net worth individuals with 53 clients and $212.88 million of assets under management. Among the 8 most similar advisory firms, Castle Investment Advisory has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $282.31 million for 275 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.

Castle Investment Advisory doesn't advise any private funds.

Careers at Castle Investment Advisory, LLC

The company employs 13 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 4 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
Gary Lee Pittsford	Managing member	1 Sep 2008	50% - 75%	364258
Darren Troy Nyce	Member	1 Jun 2009	Other	4596908
Renee Lynette Christner	Chief compliance officer	1 Jun 2009	Other	5727450
Michael Lance Kalscheur	Member	1 Jun 2009	Other	2640124

Based in Indianapolis

The principal office where Castle Investment Advisory, LLC performs its advisory services is located at 9820 Westpoint Drive, Indianapolis, IN 46256, 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 317-849-9559 or by fax 317-577-8575. The normal business hours are 8:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at castle3.com/castle3/web/me.get?web.websections.show&sch5414_641.