Ancora Private Wealth Advisors, LLC

CRD#124845
Investment Advisor Firm

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Learn more about Ancora Private Wealth Advisors, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Ancora Private Wealth Advisors, LLC is located at 6060 Parkland Boulevard, Cleveland, OH. The firm employs 33 financial advisors. Ancora Private Wealth Advisors, LLC is not a registered broker-dealer.

    The firm manages $3.2 billion in assets under management across 4,083 accounts, with 4,057 discretionary accounts and 26 non-discretionary accounts. In the past year, the firm provided financial planning services to between 101 and 250 clients. Services offered include financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and other services. The firm serves high net worth investors, pension plans, charitable organizations, and corporations, with high net worth investors representing the largest client type by accounts. The fee structure includes asset-based, fixed, performance-based, and other fees. Ancora Private Wealth Advisors, LLC has 3,987 high net worth clients and maintains affiliations with broker-dealers or securities dealers, accountants or accounting firms, lawyers or law firms, insurance companies or agencies, pension consultants, real estate brokers or dealers, and commodity pool advisors.

    Ancora Private Wealth Advisors, LLC is registered in the states of Arizona, California, Colorado, Connecticut, Florida, Illinois, Indiana, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Wisconsin, Texas, and New Hampshire.

    Assets Under Management

    $3.2 billion

    Number of Advisors

    33

    Disclosures

    No

    Office Location

    6060 Parkland Boulevard
    Cleveland, OH 44124

    Ancora Private Wealth Advisors, LLC by the Numbers

    Total Assets Under Management

    $3.2 billion

    National Average: $8.6 billion
    Total Number of Employees

    65

    National Average: 64
    Total Number of Accounts

    4,083

    National Average: 375,227
    Average Account Size

    $787.0 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial services that Ancora Private Wealth Advisors, LLC provides can include financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and other services. In the prior fiscal year, Ancora Private Wealth Advisors, LLC provided 101-250 of its clients with financial planning servcies. The company does sell products or offer services apart from investment advice to its clients. Ancora Private Wealth Advisors, LLC is also affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, accountant or accounting firm, lawyer or law firm, insurance company or agency, pension consultant, real estate broker or dealer, and commodity pool advisor.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fiancial advisory fees largely vary depending on which services are offered. Fees charged by Ancora Private Wealth Advisors, LLC can consist of some combination of the following fee types: asset-based, fixed, performance-based, and other. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm. Ancora Private Wealth Advisors, LLC is able to withdraw its charges directly from customer accounts.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 26% of firms

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    The company provides services to high net worth investors, pension plans, charitable organizations, and corporations. Out of its 4,083 clients, Ancora Private Wealth Advisors, LLC's biggest client group by number of accounts is high net worth investors, but it also serves 3,987 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of at least $1.50 million or who is a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 97.65%
    • Other Individuals - 0%
    • Corporations - 1.67%
    • Charitable Organizations - 0.69%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Ancora Private Wealth Advisors, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Ancora Private Wealth Advisors, LLC

    Louis Preseren
    Cleveland, OH
    Michael Santelli
    Cleveland, OH
    Gregory Hopkins
    Cleveland, OH
    Ashley Benton-Cooper
    Cleveland, OH
    Thomas Kennedy
    Cleveland, OH
    Paul Mccormack
    Cleveland, OH
    Ryan Bartels
    Cleveland, OH
    Lisa Rosenthal
    Cleveland, OH
    Jeffrey Van Fossen
    Cleveland, OH

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