Firm Description
United Asset Strategies, Inc. (“UAS”) was organized as a corporation under the laws of the State
of New York in 1992 and has offices in Garden City, New York. UAS is registered as an investment
advisor with the Securities and Exchange Commission. Registration does not imply a certain level
of skill or training. Michael V. Riccardi and Matthew R. DeLorenzo principally own UAS.
Types of Advisory Services
We help clients plan for the possibilities of tomorrow by furnishing the following investment
management services:
Supervising the investment and reinvestment of client assets on a continuing and
discretionary basis (our “Discretionary Money-Management Services”);
Advising participant-directed employee retirement plans, participant-directed 401(k) plans in
which the participant selects from a selected group of mutual funds offered by several fund
families, and Savings Incentive Match Plans for Employees (each a “SIMPLE IRA”) as to the
investment options that are offered and, in some cases, using a third-party platform to
facilitate management of assets that are held by account custodians with which we do not
maintain a direct relationship (collectively our “Employee Retirement Plan and Pension
Consulting Services”); and
Assisting employee retirement plan participants in establishing their plan accounts and in
selecting among investment options (our “Full Brokerage Services”).
In addition to investment management services, we help clients plan for the possibilities of
tomorrow through thoughtful estate and financial planning. We assist our clients with budgeting,
financial, retirement, college savings, Social Security, and estate distribution planning and with
cash-flow analysis to help them navigate their financial futures. We provide family bookkeeping
services and offer educational workshops for the next generation.
Tailored Relationships
Our investment management services include the selection and management of investments
highly tailored to the individual needs, investment objectives, and risk tolerance of the client. In
all cases, our investment advice is based on our evaluation of the financial situation and
objectives of each client. Clients are permitted to impose restrictions on investing in certain
securities or types of securities.
Discretionary Money-Management Services
With respect to Discretionary Money-Management Services, we offer three types of managed
accounts:
Accounts that invest exclusively in equity securities, such as common stock, preferred stock,
equity exchange-traded funds (each an “ETF”), and options;
Accounts that invest exclusively in fixed-income securities, such as corporate bonds, United
States government bonds, and municipal bonds; and
Balanced accounts that invest in a combination of equity securities and fixed-income
securities.
When providing Discretionary Money-Management Services, we work with the client to establish
his or her goals and objectives, including targeted rates of return and suitable risk parameters.
We then research, select, purchase, monitor, and sell particular securities. We also perform
administrative functions.
Most accounts are allocated among industry sectors. For example, accounts often include equity
securities of issuers in the technology, utilities, pharmaceutical, and financial sectors, as well as
securities of issuers not based in the United States. Some industry sectors are further diversified
into industry segments by, among other things, product line or region. We often establish a
certain percentage, measured at the time of investment, to which we will limit concentration in
a particular segment or sector. While we seek to achieve adequate diversification in client
accounts, too much diversification sometimes negatively impacts account performance. As a
result, any percentage limitations that we establish are only guidelines and are subject to change
in our complete discretion at any time and from time to time.
Employee Retirement Plan and Pension Consulting Services
We offer several types of employee retirement plan and pension consulting services:
Advice to plan trustees in their selection of securities to be included within the investment
choices of a participant-directed employee retirement plan, a participant-directed 401(k)
plan in which the participant selects from a limited group of mutual funds offered by a broker-
dealer, or a SIMPLE IRA;
Periodic reporting to plan trustees and plan participants as to the performance of mutual
funds included within the investment choices;
Advice to plan trustees as to whether to modify the investment choices of a participant-
directed employee retirement plan, a participant-directed 401(k) plan in which the
participant selects from a limited group of mutual funds offered by a broker-dealer,
or a
SIMPLE IRA;
Assistance to plan participants in opening accounts and transferring assets to or depositing
assets in these accounts; and
Advice to plan participants as to the investment options within a plan.
In addition, we consult with the trustees or directors of employee retirement plans to develop
customized investment programs for plan participants and to develop other types of investment
management services that the trustees or directors request.
We also use a third-party platform owned by Pontera Inc. (“Pontera”) to facilitate the
management of assets that are held by account custodians with which we do not maintain a
direct relationship. The client accounts managed using the Pontera platform generally consist of
401(k) or 403(b) retirement accounts, 529 accounts, and health savings accounts over which we
have full investment discretion. In providing these services, we may also use our order
management system in an effort to implement tax-efficient asset allocations and opportunistic
rebalancing strategies on behalf of a client.
We review the available investment options in the accounts on the Pontera platform on at least
a quarterly basis. If appropriate, we rebalance the client account and implement our strategies
in the same way as we do with other client accounts over which we exercise full investment
discretion, although we may use tools specific to the Pontera platform in achieving these
objectives. Factors considered in our determination to rebalance an account include the
investment objectives and risk tolerance of the client. Any changes in asset allocations also
consider current economic and market trends. Our goals in using the Pontera platform are to
improve client account performance over time, to minimize losses during difficult market
conditions, and to manage internal fees that have the potential to harm client account
performance.
The Pontera platform allows us to manage a participating client account without, we believe, our
being deemed to have custody of client funds or assets because we do not need access to the
log-in credentials of the client to effect trades in the account. We are not affiliated with Pontera
and receive no compensation from Pontera for using its platform. A link is provided to the client
that allows him or her to connect the account to the Pontera platform. Once the client account
is connected to the Pontera platform, we are able to review the current account allocations and
to make any desired changes.
Full Brokerage Services Within Employee Retirement Plans
Through Full Brokerage Services, we assist employee retirement plan participants (1) in opening
accounts and transferring assets to or depositing assets in these accounts and (2) as to the
investment options within a plan for clients who desire assistance with employee retirement
plans in which we do not advise the plan trustee. Full Brokerage Services do not involve
investment advice but rather data collection and retirement education.
Estate and Financial-Planning Services
When engaged in estate and financial planning services, we develop a customized plan for each
client (and, if requested, his or her spouse) based upon our analysis of his or her financial goals,
investment objectives, assets and liabilities, and projected earnings. We create a customized
budget and a savings and investment plan that takes into account the need to save for college
educations and retirement, estate transfers, inflation, and other issues and objectives.
When approached to provide estate and financial planning services, we meet with the client or
prospective client for approximately one hour to gather information. This initial consultation is
without charge or obligation. Based on the information gathered in the initial consultation, we
provide a good-faith estimate of the amount of time that will be necessary to complete the plan
and the associated cost. Fees for our estate and financial planning services do not include
providing ongoing investment advice or management.
Allocation of Scarce Securities
We sometimes have the opportunity to purchase securities in an initial public offering or other
limited investment opportunity for client accounts. Subject to suitability considerations, we seek
to allocate these scarce securities among the accounts for which we have received explicit
instructions from clients who have engaged us to provide Discretionary Money-Management
Services that the clients wish to participate in initial public offerings or other limited investment
opportunities.
Assets Under Management
As of December 31, 2023, UAS managed approximately $1,586,200,000 in client assets. Of this
amount, we managed approximately $1,440,300,000 on a discretionary basis and approximately
$145,900,000 on a non-discretionary basis.