Northstar Asset Management is a boutique wealth manager based in Andover, New Jersey, that also has a branch in Philadelphia. The four-person firm has two financial advisors and about $93.2 million in assets under management (AUM) on a non-discretionary basis. In addition to portfolio services, the team can help with life insurance and annuity needs.
Northstar Asset Management Background
John Paoloni founded Northstar Asset in 2004. The independent firm is a family shop, with his wife Carol Paoloni serving as the director of operations. The other advisor in the firm, Andrew Peters, joined the firm in 2013, after working in asset management at JP Morgan Private Bank.
What Types of Clients Does Northstar Asset Management Accept?
Northstar Asset works with individuals who are or aren’t high net worth, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities.
Northstar Asset Management Minimum Account Sizes
The firm generally requires an account minimum of $100,000, though it may waive the requirement at its discretion.
Services Offered by Northstar Asset Management
Northstar Asset provides ongoing portfolio advisory services on a non-discretionary basis. They include investment strategy, asset allocation, asset selection, risk tolerance and regular portfolio monitoring.
The firm also offers financial planning that may include investment planning, life insurance, tax planning, retirement planning and college planning.
Northstar Asset Management Investing Philosophy
The firm applies charting analysis, fundamental analysis, technical analysis, and cyclical analysis. The strategies it employs include long-term trading, short-term trading, short sales, margin transactions, purchase of call/put options and options writing (including covered options, uncovered options, or spreading strategies).
Fees Under Northstar Asset Management
Northstar Asset bases its management fee on a percentage of the client’s AUM. Though the firm may waive or negotiate its fees, it generally charges an annual 1.0%, payable quarterly in arrears.
For investment consulting services, fees range from $300 to $5,000, depending on the complexity of the situation and client needs. For financial planning services, the fixed fee is $1,000 to $3,000, and any follow-up is on an hourly basis of $150 to $300 - all depending on the level and scope of services.
What to Watch Out For
Advisors at the firm may be insurance agents or representatives of a broker-dealer who receive commissions on sales. That said, you are free to buy securities, life insurance and annuities from other agents. Also, as a fiduciary, Northstar Asset is legally bound to work in clients’ best interests.
Northstar Asset had no legal or disciplinary events in the past 10 years to report in its most recent SEC filings.
Opening an Account With Northstar Asset Management
Where Is Northstar Asset Management Located?
Headquarters are located at 1605 County Road 517, Hackettstown, New Jersey 07840. Its Philadelphia office is at 1515 Market Street, Suite 1200, Philadelphia, Pennsylvania 19102.
All information was accurate as of the writing of this article.
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