The Roof Advisory Group – Overview
The Roof Advisory Group, Inc. is an S corporation that was set up in January 1998 by E. Jeffrey Roof. All employees of the firm, except for the administrative assistant, are Registered Investment Advisor representatives and have passed the Series 65 exam. The Roof Advisory Group provides investment management, investment advisory, and financial planning services. The firm’s compensation is derived from fees alone.
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The sole mission of the firm is in delivering objective investment management and financial advice on a fee-only basis. The firm receives no compensation whatsoever in the form of loads, commissions or 12b-1 fees. It advises clients on managing their assets in the most effective and efficient manner, providing customized solutions for both individual and institutional clientele.
The firm currently provides direct and ongoing portfolio management to over two hundred high-net-worth relationships that include individuals, trusts, not-for-profits, foundations, municipal pension plans, and corporations. In addition, consultative investment advisory and financial planning services are provided to numerous non-managed clients on a periodic basis.
Excluding clerical workers, the firm has 7 employees of whom 3 perform investment advisory functions. Most clients classify as high-net-worth, with the average account size being $1,800,000. The firm manages over $388 million in 202 accounts.
The Roof Advisory Group is a Registered Investment Advisor and is considered a “large advisory firm” by the SEC. The firm’s SEC number is 801-62995, and its FINRA CRD number is 117969. Its ADV is available at Investment Adviser Public Disclosure.
FINRA is the Financial Industry Regulatory Authority, a self-regulatory organization that supervises securities firms. CRD is the acronym for FINRA’s Central Registration Depository.
As required by the SEC, the firm has published Form ADV Part 2a: Brochure.
How Did the Roof Advisory Group Start?
The Roof Advisory Group was founded at the encouragement of local attorneys and accountants who were seeking a truly independent option for their clients in need of a level of investment expertise, which did not exist in the area. “Our approach was novel at the time, being an independent Registered Investment Advisor with the sole mission of delivering objective investment management and financial advice to our clients on a fee-only basis,” says E. Jeffrey Roof, president and founder. “Since our inception 15 years ago, we have achieved record growth in assets under management each consecutive year.”
In January 1998, Roof Advisory Group became incorporated and opened its doors at Camp Hill. At the end of the first year, the firm’s assets under management (AUM) totaled $800,000. In five short years, its AUM reached $25 million. At that point, the office was relocated to its current address at Harrisburg. The firm’s AUM has now grown to more than $388 million despite volatile market conditions throughout its 17-year history.
The Roof Advisory Group Review – Team Members
E. Jeffrey Roof
Mr. Roof is the president of the Roof Advisory Group. He has been providing investment management and financial advisory services since 1982 and is uniquely qualified in understanding what is required to meet the needs of institutional and high-net-worth investors. Mr. Roof oversees all functions of the firm, focusing primarily on overall investment strategy, business management, and client services.
Immediately prior to founding the firm, Mr. Roof was the executive vice president of Fulton Bank. He headed the bank’s Investment Management and Trust Services division for approximately five years. As a member of the bank’s Senior Management team, departments under his direction included portfolio management, retirement plan management, foundation/endowments, corporate trust, personal trust, and private banking. Previously, he spent nearly a decade in various management positions with Mellon Bank’s Institutional Trust and Master Custody group, primarily focusing on providing investment management and retirement plan solutions for a diverse group of national organizations.
Mr. Roof earned a Bachelor of Arts from Rutgers University and a Master of Arts from Lehigh University. He holds the Series 65 – Registered Investment Advisor Representative license.
Kevin S. Roof
Kevin S. Roof joined the firm in June 1999 and is the firm’s chief operating officer and chief compliance officer. He oversees and coordinates the firm’s day-to-day administrative, financial, computer information, client service, human resources, compliance, training, and client reporting systems/processes. His administrative, technical, and leadership background spans over three decades.
Mr. Roof is a graduate of both Temple University and York College and is a holder of the Series 65 – Registered Investment Advisor Representative license.
Bradley R. Newman, CFP
Bradley Newman is a senior investment advisor and financial planning coordinator. He is a Certified Financial Planner (CFP). Mr. Newman earned a Bachelor of Arts degree from Juniata College and is a holder of the Series 65 – Registered Investment Advisor Representative license. He is currently a board member of the Central Pennsylvania Estate Planning Council and has served multiple terms on the board of Theatre Harrisburg.
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Ralph Manna, III, AIF
Ralph Manna is an Accredited Investment Fiduciary Practitioner at Roof. He serves the firm as both the operations manager and compliance coordinator. His ten plus years of experience with both large institutional and boutique asset management firms provides a broad base of experience that benefits clients of the Roof Advisory Group. Mr. Manna’s primary role is the supervision of the operations and administration of clients’ investment accounts. Additionally, Mr. Manna coordinates and monitors the firm’s compliance program, ensuring that all firm activities meet the requirements of state and federal regulatory agencies.
Mr. Manna earned a Bachelor of Science degree from the University of Connecticut. He is a holder of the Series 65 – Registered Investment Advisor Representative license. He is active within the Bridges Society of the United Way of the Capital Region, serving as a fund allocation panel member. Mr. Manna is also an active volunteer with the American Cancer Society.
Bryson J. Roof, CFP
Mr. Roof serves the firm as an investment advisor and business development/marketing coordinator. His primary responsibilities are managing existing client relationships, developing new business, providing proactive firm outreach, and coordinating the firm’s business development/marketing efforts. He is a Certified Financial Planner (CFP). Prior to joining the Roof Advisory Group, Mr. Roof spent approximately two years with a global financial services firm in Virginia Beach, Virginia.
Mr. Roof earned a Bachelor of Arts degree from Virginia Wesleyan College and is a holder of the Series 65 – Registered Investment Advisor Representative license. He is a board member of the West Shore Chamber Foundation, a Big Brother with Big Brothers Big Sisters of the Capital Region, and an active member of the Rotary Club of Harrisburg where he serves as chair of the blood drive committee.
Daniel T. Eye, CFA
Mr. Eye is senior portfolio manager at Roof. Prior to joining the Roof Advisory Group, Mr. Eye spent five years at Zeke Capital Advisors as a client portfolio manager. At Zeke Capital Advisors, he served a select group of clients in creating, implementing, and managing customized portfolios. Prior to Zeke Capital Advisors, Mr. Eye worked at JPMorgan as an associate investor.
Mr. Eye earned a Bachelor of Science degree from Wilmington College and is a holder of the Series 65 – Registered Investment Advisor Representative license. He is currently involved with Junior Achievement. He is a Chartered Financial Analyst (CFA).
What We Like About the Roof Advisory Group
1. The Roof Advisory Group is fee-only; the firm is also one of the few we’ve come across without any proprietary interest in client transactions.
The firm goes out of its way to avoid conflicts of interest. Its fees are calculated as a percentage of the assets managed and are not derived from commissions on the sale of financial products to clients or compensation-based on recommending a particular course of action to clients. A fee-only advisor is also under a fiduciary duty to his/her clients and must always place the clients’ interests before his/her own.
2. The Roof Advisory Group has a great reputation: In December 2014, the firm was the first investment advisor to receive all three Best Practices awards presented by InvestmentNews.
To be selected as a Best Practices winner, the firm first had to rank in the top-quartile of more than 400 participating firms nationally. The firm has also been featured on WITF-FM, a public radio station in Harrisburg, Pennsylvania.
The firm’s high standards have consistently been recognized nationally by professional industry publications such as Financial Advisor, Wealth Manager, and Investment News, and also by Moss Adams, a large public accounting firm.
The Roof Advisory Group has repeatedly ranked as one of the nation’s top professional investment advisers in the country.
3. The Roof Advisory Group has over 100 years’ experience and in-depth financial expertise in areas that are critical to the success of its clientele.
4. Your funds are safe when you use the Roof Advisory Group: The firm uses Charles Schwab & Co. as custodian of client funds, so its brokerage accounts are under the protection of the Securities Investor Protection Corporation (SIPC).
The SIPC protects the securities and cash in your brokerage account up to $500,000.
The $500,000 protection includes up to $250,000 protection for cash in your account to buy securities. Charles Schwab & Co. brokerage accounts are also covered by international insurers such as Lloyd’s of London.
5. The Roof Advisory Group is a money manager: The firm’s tag line is “When you’re serious about managing your money.” The firm invests in individual equities, mutual funds, and exchange-traded funds (ETFs).
The firm recognizes the benefit provided by utilizing multiple managers with specialized expertise in specific areas, such as international and mid/small equities, and will periodically utilize high-quality, low-cost mutual funds with established track records of high performance to fill this need.
A fundamental “value-style” approach is used when actively managing the individual stocks that comprise the majority of the equity position in its clients’ investment portfolios. Specifically, the firm defines this group of stocks as companies with solid earnings, low corporate debt, notable one-year appreciation potential (10% plus), reasonable valuation (P/E ratios below 15), and dividend yields exceeding 2%. Tax efficiency is a consideration in all taxable accounts.
6. The Roof Advisory Group shows its clients the ropes: The firm publishes a newsletter, Quarterly Insights, which provides news on market developments, in addition to its Investment Update and Advisory News Brief.
7. The Roof Advisory Group does not charge performance-based fees or engage in side-by-side management. Fees are computed on total assets under management (AUM) and not on a share of capital gains or capital appreciation of a client’s assets.
Roof Advisory Group Review – Services
The firm’s services are structured into four areas: (i) customized portfolio management, (ii) investment advisory & financial planning, (iii) inter-generational portfolio management, and (iv) wealth management.
Customized portfolio management includes asset allocation, security selection, and performance tracking.
Investment advisory & financial planning encompasses portfolio evaluation, retirement planning, college funding, and business transition.
Inter-generational portfolio management covers trusts and foundations.
The Roof Advisory Group Address Information
- 507 N. Front Street, Harrisburg, PA 17101
- Tel: 717-260-9281
To Contact the Roof Advisory Group
- E-mail: [email protected]
- Contact page: http://www.roofadvisory.com/contact-us/
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