Advantage Capital Management LLC (New York)


Advantage Capital Management LLC is a large advisory firm based in New York. It manages $2.12 billion of regulatory assets for 6 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Illinois and New York.

Advantage Capital Management provides portfolio management for businesses and institutional clients 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.

Advantage Capital Management: assets under management

The assets under management (AUM) of Advantage Capital Management LLC is $2.12 billion. The firm's AUM has grown by 21128% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.1 billion in discretionary accounts and $24.95 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $419.56 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $24.95 million.
Advantage Capital Management has custody of $2.1 billion in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 70% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 14% of the firm’s portfolio. Investments in non-exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Advantage Capital Management LLC for their services and products based on a percentage of assets under management and performance-based 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 Kenneth King serves?

The only and largest group of clients of Kenneth King is insurance companies with 6 clients and $2.12 billion of assets under management. Among the 12 most similar advisory firms, Advantage Capital Management has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $2.12 billion for 6 clients. None of the firm’s clients are foreign persons or businesses.

Advantage Capital Management also advises several private funds. Namely, one other private fund.

Careers at Advantage Capital Management LLC

The company employs 14 people that are either part- or full-time employees. 93 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Kenneth King has been acting as President since 1 Mar 2014. Michael Robert Saliba joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Richard Ronald Vecchiolla Chief compliance officer/portfolio manager 1 Mar 2014 Other 1948625
Michael Wayne Minnich Portfolio manager 1 Mar 2014 Other 3236923
Aurora Structuring Advisors Llc Member 1 Mar 2014 Other 46-3187838
Rendezvous Capital Llc Member 1 Mar 2014 Other 27-3032758
Advantage Capital Holdings Llc Member 1 Mar 2014 50% - 75% 46-0752416
Kenneth King President 1 Mar 2014 Other 2812188
Kenneth Nmn King President 1 Mar 2014 Other 2812188
Ulu Capital & Consulting Llc Member 1 Mar 2014 Other 46-3187784
Heather Quinn Molloy Portfolio manager 1 Mar 2014 Other 2812189
Michael Robert Saliba Chief compliance officer 1 May 2018 Other 5520043

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Kenneth King Member 1 Jul 2012 75% - 100% 2812188
Kenneth Nmn King Member 1 Jul 2012 75% - 100% 2812188

Based in New York

The principal office where Advantage Capital Management LLC performs its advisory services is located at 49 West 23 Rd Street, New York, NY 10010, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 929 / 383-7500 or by fax 914 579 2930. The normal business hours are 9 am - 5:00 pm on Monday - Friday.