Financial advisor firm Ingalls & Snyder has billions of dollars in assets under management (AUM). Based in New York, the firm currently has a large group of financial advisors serving nearly 4,000 individual and institutional clients.
As a fee-based firm, Ingalls and Synder can receive securities-based commissions beyond client-paid fees. Fee-only firms, on the other hand, receive all of their compensation from client-paid fees.
Ingalls & Snyder Background
Ingalls & Snyder was established in 1924, but it wasn't until 1968 that the firm became a registered investment advisor (RIA). Founded by Roscoe C. Ingalls and John T. Snyder, the firm functions as both an RIA and a broker-dealer. The firm is employee-owned by senior professionals.
Ingalls & Snyder Client Types and Minimum Account Sizes
Ingall & Snyder serves non-high-net-worth and high-net-worth individuals, financial institutions, pension and profit-sharing plans, trusts and estates, charitable organizations, corporations and private investment partnerships.
The firm generally requires $100,000 as a minimum account size requirement.
Services Offered by Ingalls & Snyder
Snyder offers clients the following advisory services:
- Portfolio management
- Financial planning
- Selection of other advisors
- Educational seminars
Ingalls & Snyder Investment Philosophy
Ingalls says its fees are aligned with the interests of its clients. The firm’s main investment strategies utilize long- and short-term purchases, trading, short sales, margin transactions and option writing.
Ingalls & Snyder also evaluates securities using fundamental, technical and cyclical analysis. The firm invests in equities, warrants, corporate debt securities, corporate preferred securities, commercial paper, municipal securities, bank certificates of deposit (CDs), mutual funds, exchange-traded funds (ETFs) and a number of other investment products.
Fees Under Ingalls & Snyder
Ingalls & Snyder charges a maximum fee of 1.50% for accounts with a portfolio made up of equities and equities and fixed-income securities. For advisory accounts solely comprised of fixed-income portfolios, Ingalls & Snyder charges up to 1.00% of AUM. The firm charges a maximum of 1.00% for asset allocation and third-party manager selection.
Advisors provide service to limited partnerships (LP), for which they receive a maximum of 1.50%. The firm charges performance-based fees for certain accounts.
What to Watch Out For
Ingalls & Snyder has three disclosures listed on its SEC-filed Form ADV. Each of these is attributed to the firm directly, with the two most recent being settled in 2015. One stemmed from allegations the firm mismarked options orders made by certain managing directors. This resulted in a $22,500 fine and censure. Another stemmed from allegations the firm failed to properly report various positions. This resulted in a $175,000 fine and censure.
The firm receives additional fees from mutual fund companies and/or money market funds, including 12b-1 fees. This can create a conflict of interest, as it may incentivize advisors to recommend such products even if they don’t align with client needs. The firm says its fiduciary duty prevents conflicts of interest, but clients and prospective clients should keep this in mind.
Opening an Account With Ingalls & Snyder
The easiest way to learn more about becoming a client of Ingalls & Snyder is to call (212) 269-7800.
All information is accurate as of the writing of this article.
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