Joel Isaacson & Co. is a New York City-based financial advisor firm with several billion dollars in assets under management (AUM). The fee-only firm offers a selection of financial planning, wealth management, investment advisory and portfolio management services for its clients.
Joel Isaacson & Co. is a well-known firm that has a variety of accolades to boast. In fact, it was named a Top 12 Financial Advisor in New York City for 2020-2021 by AdvisoryHQ, along with being ranked as a Top Registered Investment Advisor in the U.S. by the Financial Times.
Joel Isaacson & Co. Background
Joel Isaacson & Co. was founded in 1993 by Joel Isaacson, though he was also joined by other advisors and tax professionals. Later, the firm became a partner of Focus Financial Partners, LLC, a large wealth management firm that oversees a network of independent firms. Joel Isaacson still serves as the firm's chairman and David Peltz as a partner and CEO.
The firm employs a range of advisors who hold professional certifications. These include the certified financial planner (CFP) and certified public accountant (CPA) designations.
Joel Isaacson & Co. Client Types and Minimum Account Sizes
Joel Isaacson & Co. works mainly with individual clients, the vast majority of whom have a high net worth. Other clients include charitable organizations and non-high-net-worth individuals. The firm may also work with pensions and profit-sharing plans.
This firm does not list a specific minimum account size requirement.
Services Offered by Joel Isaacson & Co.
Joel Isaacson & Co. provides a range of financial services to its clients. Investment advisory services are often paired with financial planning, tax advice and portfolio management. Financial planning services center around the review and assesment of a client's current financial situation, while advising on goals related to taxes, retirement, their estate and business plans.
The firm also provides clients with wealth management and portfolio management services. Wealth management entails four main steps:
- Personal financial planning
- Development, implementation and monitoring of investment strategies
- Performance reporting on investments
- Meetings with advisors
Joel Isaacson & Co. Investment Philosophy
Joel Isaacson & Co. tailors its investment philosophy to the individual needs of each client. Advisors meet with clients to determine their overall financial situation, as well as what kinds of strategies and investment approaches are right for them. Advisors manage accounts on an ongoing and continuous basis, and clients can impose reasonable restrictions on how their money is managed.
The firm manages client assets on both a discretionary and non-discretionary basis. Typically, assets are invested in mutual funds, exchange-traded funds (ETFs) and private investment funds. Advisors tend to invest with a long-term focus, but short-term investing may be utilized if it fits with a client's needs.
Fees Under Joel Isaacson & Co.
Joel Isaacson & Co. charges a range of different fees depending on the type of services being provided. Hourly fees, which may be charged for financial planning services, range from $120 to $860 per hour. Asset-based fees are charged at an annual rate of 1.00% of AUM for assets under $1 million and 0.50% of AUM for assets above $1 million.
Wealth management services, on the other hand, are typically charged on a fixed-fee basis, as shown below.
| Joel Isaacson & Co. Fixed Fee Schedule | |
| Assets | Estimated Fee |
| First $1MM | $10,000 |
| $1M - $3MM | $15,000 |
| $3MM - $5MM | $20,000 |
| $5MM - $10MM | $30,000 |
| $10MM - $20MM | $40,000 |
| $20MM - $30MM | $50,000 |
| More than $30MM | Negotiable |
What To Watch Out For
Joel Isaacson & Co. does not list any disclosures on its SEC-filed Form ADV.
As a fee-only firm, Joel Isaacson & Co. advisors do not earn commissions for selling or recommending financial products and services. Instead, the firm's revenue comes solely from the fees that clients directly pay.
Opening an Account With Joel Isaacson & Co.
Those looking to open an account with Joel Isaacson & Co. can go online to the firm's website and submit a contact form. The firm can also be reached over the phone at (212) 302-6300.
All information is accurate as of the writing of this article.
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