Novem Group

What Novem Group does

Novem Group is an independent financial advisory and wealth management firm founded in 1994 in Rochester, New York, by Robert Bartolotta. The firm operates as a Registered Investment Advisor (RIA) managing $1.17 billion in assets across 4,500 accounts nationally, served by 27 affiliated Investment Adviser Representatives. Its core offering consists of twelve named proprietary investment strategies spanning equity (Capital Appreciation, Dividend Select, Intrinsic Value), fixed income (Strategic Fixed Income, High Yield, Municipal Fixed), global/alternatives (Global Value, Global Income, Liquid Alternatives), and advanced options-based portfolios (EquityPLUS, Balanced Hedged Equity, Tax-Efficient Risk Based). The firm complements these with group retirement plan services for corporate employers (plan design, investment due diligence, fiduciary governance) and individual wealth management services including insurance products (life, health, disability, long-term care) and estate planning.

The technology stack is built on industry-standard third-party platforms: eMoney for wealth management and financial planning, Albridge for account aggregation, Black Diamond for portfolio reporting, Charles Schwab for custody, and Riskalyze for risk tolerance assessment, all accessible through a client portal. The firm has no proprietary technology development disclosed and relies on its advisor relationships and curated product set as its primary value proposition. The firm has expanded from its Rochester headquarters to a satellite office in Jupiter, Florida opened in 2018, and has promoted Patrick Manuel to President in 2022 while Robert Bartolotta continues as CEO and Chairman.

The business model combines fee-based investment advisory revenue (recurring AUM-based fees) with commission revenue from insurance products and securities offered through Osaic Wealth, Inc. (member FINRA/SIPC), with advisory services also offered through Osaic Advisory Services, LLC. Account minimums range from $1,000 (Tax-Efficient Risk Based) to $150,000 (options-based strategies), positioning the firm in the mass-affluent to high-net-worth segment. The firm reaches clients through direct advisor relationships at its two physical offices, content marketing via Weekly Market Commentary, and referrals, and is consistently recognized as one of Rochester's Top 100 companies and Top Workplaces.

Name

Novem Group

Legal name

Novem Group

Website

https://novemgroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Novem Group is an independent Registered Investment Advisor founded in 1994 in Rochester, NY, managing $1.17 billion across 4,500 accounts via 27 adviser representatives. It serves individuals and corporate clients with proprietary investment strategies, group retirement plan services, wealth management, and insurance products through offices in Rochester and Jupiter, FL.

Ownership category

akta.pro rank

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Advisory Fees: Fee-based investment advisory services through Novem Group as a Registered Investment Advisor. The firm manages client portfolios using proprietary investment strategies.
2. Securities Commissions: Securities offered through Osaic Wealth, Inc. (member FINRA/SIPC) generating commission revenue from investment transactions.
3. Insurance Products: Insurance products including Life Insurance, Health Insurance, Long-Term Disability Insurance, and Long-Term Care Insurance provided through licensed agents.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Novem Group is an independent Registered Investment Advisor (RIA) that delivers fee-based investment advisory, wealth management, retirement planning, group retirement plan services, and insurance products to individuals and businesses. The firm manages $1.17 billion across 4,500 client accounts through 12 proprietary investment portfolios spanning equity, fixed income, global, options, and tax-efficient strategies, supported by custodial, reporting, and risk-analysis technology platforms.

Product overview

Novem Group is a financial advisory and wealth management firm offering a unified platform of actively managed investment strategies and financial planning services. The core portfolio consists of 12 named investment products: 3 equity strategies (Capital Appreciation, Dividend Select, Intrinsic Value), 3 fixed income strategies (Strategic Fixed Income, High Yield, Municipal Fixed), 3 global/alternatives strategies (Global Value, Global Income, Liquid Alternatives), and 3 advanced strategies (EquityPLUS, Balanced Hedged Equity, Tax-Efficient Risk Based). These are complemented by group retirement plan services for businesses and individual wealth management including insurance products, creating a comprehensive offering for individuals, families, and organizations seeking investment management, retirement planning, and financial advisory services.

Differentiator

Problem solved

Functional benefit

Products and services

• Novem Capital Appreciation

Quantifiable outcome

• Managing $1.17 billion in assets across 4,500 accounts

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature2 records

Partnerships

Seven partnerships are on record, tiered historical, core and major.

• American Portfolios Financial ServiceshistoricalChannel Partner/ Reseller/ Distributor · 1 January 2001Robert Bartolotta was a founding member of American Portfolios Financial Services, which launched as a broker-dealer in 2001. This historical connection enabled advisors to continue putting clients first without being captive to any specific investment company.
• Osaic Wealth, Inc.coreChannel Partner/ Reseller/ DistributorSecurities offered through Osaic Wealth, Inc. (member FINRA/SIPC). Novem Group advisors are registered representatives of Osaic Wealth, enabling them to offer securities products to clients.
• Osaic Advisory Services, LLCcoreChannel Partner/ Reseller/ DistributorAdvisory services offered through both Novem Group and Osaic Advisory Services, LLC. The relationship provides compliance infrastructure and regulatory oversight for the advisory practice.
• Charles Schwab & Co., Inc.majorTechnology or IntegrationCharles Schwab provides custodial services for client accounts. Novem Group clients can access Schwab accounts through the client portal with appropriate disclosure notices.
• eMoneymajorTechnology or IntegrationWealth management platform used by Novem Group for client financial planning, account aggregation, and portfolio analysis. Accessed via client portal login.
• AlbridgemajorTechnology or IntegrationAccount aggregation and reporting platform providing consolidated view of client assets across multiple institutions.
• Black DiamondmajorTechnology or IntegrationPortfolio reporting and performance reporting platform used by Novem Group for client reporting and account management.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• LPL Financial: Largest independent broker-dealer in the U.S., supporting affiliated advisors with wealth management, retirement, and insurance platforms. Broader incumbent competitor to Novem's Osaic-affiliated model with similar service scope but far greater scale.
• Focus Financial Partners: Large-scale partnership platform aggregating independent RIAs, wealth managers, and tax advisory firms. Comparable as a model for scaling independent advisory businesses, and a potential roll-up acquirer of Novem.

Direct peers

• Cambridge Investment Research: Independent broker-dealer and RIA platform supporting affiliated advisors with compliance, technology, and practice management. Comparable to Novem's model of operating through a larger IBD (Osaic Wealth) while maintaining an independent advisory brand.
• Sanctuary Wealth: Independent wealth management platform partnering with breakaway advisors to provide RIA, broker-dealer, and operations infrastructure. Comparable in serving high-net-worth clients through an advisor-affiliation model with proprietary investment strategies.
• Cetera Financial Group: Independent broker-dealer and RIA network supporting thousands of financial professionals with wealth management, retirement, and insurance solutions. Comparable in structure to Novem, which operates advisory through Osaic's network.
• Mariner Wealth Advisors: National independent RIA offering wealth advisory, retirement plan services, and tax planning to individuals and institutions. Comparable multi-service advisory firm competing in the same mid-market RIA segment.
• Private Advisor Group: Independent wealth management firm supporting affiliated advisors with practice management, technology, and compliance. Comparable mid-size RIA platform competing for the same breakaway advisor market Novem recruits from.
• Captrust: Independent RIA specializing in investment management and retirement plan advisory services for corporate and institutional clients. Directly comparable to Novem's group retirement plan and fiduciary governance offering.
• Creative Planning: Large independent RIA offering wealth management, retirement planning, and tax services to individuals and businesses. Comparable to Novem as a multi-product advisory firm with a fiduciary model, though at materially greater scale.
• Edelman Financial Engines: Large-scale independent RIA combining traditional wealth management with retirement plan participant advice. Overlaps Novem on both individual wealth management and corporate retirement services at substantially larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Customer concentration

• Facebookfacebook.com/novemgroup
• LinkedInlinkedin.com/company/novemgroup/about
• Xx.com/NovemGroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novem Group