Cordasco Financial Network, Inc. (Philadelphia)

Name: Cordasco Financial Network, Inc.
Address: Three Logan Square, Philadelphia, PA, 19103
Telephone: 215-558-3500

Cordasco Financial Network, Inc. is a large advisory firm based in Philadelphia. It manages $382.66 million of regulatory assets for 1,176 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Delaware, Florida, New Jersey, and Pennsylvania.

Cordasco Financial Network 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 prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cordasco Financial Network: assets under management

The assets under management (AUM) of Cordasco Financial Network, Inc. is $382.66 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $382.16 million in discretionary accounts and $500 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $325.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $500 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cordasco Financial Network, Inc. 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 Cordasco Financial Network serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Cordasco Financial Network is high net worth individuals with 114 clients and $276.77 million of assets under management. Among the 9 most similar advisory firms, Cordasco Financial Network has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $381.96 million for 352 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.

Cordasco Financial Network doesn't advise any private funds.

Careers at Cordasco Financial Network, Inc.

The company employs 13 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 10 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates 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
Stephen Frederick Cordasco	Managing member	1 Oct 2011	75% - 100%	2079771
Frederick Gilday Freeman	Chief compliance officer	1 Feb 2017	Other	3208811

Based in Philadelphia

The principal office where Cordasco Financial Network, Inc. performs its advisory services is located at Three Logan Square, Philadelphia, PA 19103, which is also the mailing address of the firm. An additional office of the firm is in Haddonfield, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-558-3500 or by fax 215-587-7178. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at cfnplan.com.