Joel Isaacson & Co., LLC (hereinafter “JIC,” “we,” or the “Firm”) is a SEC registered investment
adviser and wealth management firm that has been providing investment advisory services,
directly or through its predecessor firm Joel Isaacson & Co., Inc., for 30 years.
FOCUS FINANCIAL PARTNERS, LLC
JIC is part of the Focus Financial Partners, LLC (“Focus LLC”) partnership. Specifically, JIC is a
wholly-owned indirect subsidiary of Focus LLC. Ferdinand FFP Acquisition, LLC is the sole
managing member of Focus LLC. Ultimate governance of Focus LLC is conducted through the
board of directors at Ferdinand FFP Ultimate Holdings, LP. Focus LLC is majority-owned,
indirectly and collectively, by investment vehicles affiliated with Clayton, Dubilier & Rice, LLC
(“CD&R”). Investment vehicles affiliated with Stone Point Capital LLC (“Stone Point”) are
indirect owners of Focus LLC. Because JIC is an indirect, wholly-owned subsidiary of Focus
LLC, CD&R and Stone Point investment vehicles are indirect owners of JIC.
Focus LLC also owns other registered investment advisers, broker-dealers, pension
consultants, insurance firms, business managers and other firms (the “Focus Partners”), most
of which provide wealth management, benefit consulting and investment consulting services
to individuals, families, employers, and institutions. Some Focus Partners also manage or
advise limited partnerships, private funds, or investment companies as disclosed on their
respective Form ADVs.
JIC is managed by Joel Isaacson, Stan Altmark, Martin Stein, David Peltz, Lee Steinmetz and
Robert Paul (“JIC Principals”), pursuant to a management agreement between JICO
Management, Inc. and JIC. The JIC Principals serve as leaders and officers of JIC and are
responsible for the management, supervision and oversight of JIC.
Investment Advisory Services
We provide comprehensive wealth management services that include financial planning, tax
advice and portfolio management.
Financial Planning
We develop comprehensive financial plans that include an assessment of the client’s assets
and liabilities, investments, projected cash flows, tax, retirement, estate and business plans
and clients’ goals.
Wealth Management
We provide comprehensive wealth management services that include the implementation
of investment plans, and the following:
• Continuous tax, estate and personal financial planning;
• Development, implementation, and continuous monitoring of investment strategies;
• Investment performance reporting;
• Meetings with advisory
team;
Portfolio Management
Our portfolio management services typically consist of providing continuous and regular
investment supervisory services to our clients’ portfolios. We typically recommend the
investment of client portfolios in mutual funds, exchange traded funds (“ETFs”) and private
investment funds.
Our investment advisory services are tailored to the individual needs of clients. Clients are
permitted to impose reasonable restrictions on the management of their accounts. We do not
participate in wrap fee programs.
Other Services
In addition to providing investment advisory services, JIC provides tax planning, tax
preparation and tax compliance consulting, “family office,” bill paying and “outsourced CFO”
services. The fee schedule charged to clients for tax and “outsourced CFO” services will
generally follow the hourly fee schedule as disclosed under Item 5. JIC clients are not
obligated to utilize JIC for any of these services.
In a limited number of cases, employees of JIC provide trustee services. In such cases, JIC may
receive additional compensation as permitted in the trust documents and allowable by
statute.
JIC is a fiduciary under the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) with respect to investment management services and investment advice provided to
ERISA plans and ERISA plan participants. JIC is also a fiduciary under section 4975 of the
Internal Revenue Code of 1986, as amended (the “IRC”) with respect to investment
management services and investment advice provided to individual retirement accounts
(“IRAs”), ERISA plans, and ERISA plan participants. As such, JIC is subject to specific duties and
obligations under ERISA and the IRC, as applicable, that include, among other things, prohibited
transaction rules which are intended to prohibit fiduciaries from acting on conflicts of interest.
When a fiduciary gives advice, the fiduciary must either avoid certain conflicts of interest or
rely upon an applicable prohibited transaction exemption (a “PTE”).
As a fiduciary, we have duties of care and of loyalty to you and are subject to obligations
imposed on us by the federal and state securities laws. As a result, you have certain rights that
you cannot waive or limit by contract. Nothing in our agreement with you should be
interpreted as a limitation of our obligations under the federal and state securities laws or as a
waiver of any unwaivable rights you possess.
As of December 31, 2023, JIC managed a total of $6,894,330,282, of which $4,344,073,417 is
managed on a discretionary basis and $2,550,256,865 on a non-discretionary basis.