Caruso McLean & Co., Inc.
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$146,309,185
Clients
99
Advisors
4
of 5 employees
About
Caruso McLean & Co., Inc. works with individual clients (including high-net-worth individuals), trusts, pension and profit-sharing plans, charitable organizations, and business entities, offering asset management, asset allocation consulting, and financial, retirement, and college planning. The four-advisor team reports roughly $248.9 million in assets under management across about 104 client relationships.
The firm constructs portfolios using five model allocations (Conservative through Aggressive) and applies modern portfolio theory, primarily investing in mutual funds and ETFs while also using equities and fixed-income where appropriate. Accounts may be managed on either a discretionary or non-discretionary basis, and the firm discloses that the large majority of its AUM is non-discretionary ($228,616,136 non-discretionary vs. $20,267,231 discretionary), so most transactions typically require client approval; it also uses an Advisor Managed Portfolios platform and Pershing for execution and rebalancing tools.
Several features distinguish the firm from many peers: all advisory representatives are also registered representatives of Osaic Wealth, Inc., some have affiliations with Osaic’s investment adviser, and representatives are licensed insurance agents—arrangements that can give rise to commissionable sales or insurance compensation in addition to advisory fees. The brochure discloses these relationships and the operational/support arrangements with product sponsors and Osaic, and it notes clients receive custodial statements directly and are not required to purchase recommended commissionable or insurance products.
Client services
Expertise
Fee options
Planning and Consulting Services fees: $500 (up to $100,000), $1,000 ($100,001-$500,000), $2,000 ($500,001-$1,000,000), $4,000 ($1,000,000 and above)
$10,000 - $500,000: 1.80% $500,001 - $1,000,000: 1.50% $1,000,001 - $2,500,000: 1.25% $2,500,001 - $5,000,000: 1.00% $5,000,001+: 0.75%
Account minimum: $10,000 Fee-only: Planning and Consulting Services fees ranging from $500 to $4,000 based on investable assets
Main office
130 Lomond Court
Utica NY 13502
Advisors at this office
4
Most active in
New York
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
Is not active or affiliated with:
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Quick links
Advisors at this firm
David H
CFP®, Series 63, Series 65
Utica, NY
Caruso McLean & Co., Inc.
David Hamlin is a CFP® professional with 10 years of experience in financial advising. He is currently with Caruso McLean & Co., Inc. and also works with Empire Retirement Plans, LLC. Outside of his advisory roles, he serves as a notary public. Caruso McLean & Co., Inc. serves individual clients, trusts, pension and profit-sharing plans, charitable organizations, and business entities, offering services including asset management and financial planning. The firm uses model portfolios based on modern portfolio theory, investing primarily in mutual funds and ETFs, and manages approximately $249 million in assets across 104 client relationships.
Gregory M
Series 63, Series 66
Utica, NY
Caruso McLean & Co., Inc.
Gregory Mclean is a financial advisor at Caruso McLean & Co., Inc. in Utica, NY, with 45 years of industry experience. He holds Series 63 and Series 66 licenses and has worked at Caruso McLean & Co., Inc. since 1988, as well as with Osaic Wealth, Inc. since 1989 and Empire Retirement Plans, LLC since 2025. Outside of his advisory roles, he serves as President of the Board of Trustees for the Thousand Island Land Trust, a nonprofit organization. Caruso McLean & Co., Inc. serves individual clients, trusts, pension and profit-sharing plans, charitable organizations, and business entities, offering asset management, consulting, and financial planning services. The firm employs five model portfolios based on modern portfolio theory, primarily investing in mutual funds and ETFs, and manages approximately $249 million in assets across about 104 client relationships.
Kevin C
Series 66
Utica, NY
Caruso McLean & Co., Inc.
Kevin Conway is a financial advisor at Caruso McLean & Co., Inc. with 10 years of industry experience. He holds the Series 66 designation and has worked at Caruso McLean & Co., Inc. since 2013. Conway serves as associate treasurer on the Clinton Central School Foundation board and holds trustee and board member roles with several nonprofit organizations in the Utica, NY area. Caruso McLean & Co., Inc. serves individual clients, trusts, pension and profit-sharing plans, charitable organizations, and business entities. The firm uses modern portfolio theory to construct portfolios across five model allocations, primarily investing in mutual funds and ETFs, and manages both discretionary and non-discretionary accounts.
Stephen C
Series 63, Series 66
Utica, NY
Caruso McLean & Co., Inc.
Stephen Caruso is a financial advisor with Caruso McLean & Co., Inc. in Utica, NY, holding Series 63 and Series 66 licenses and bringing 29 years of industry experience. He has been with Caruso McLean & Co., Inc. since 1996 and also works with Empire Retirement Plans, LLC. Caruso McLean & Co., Inc. serves individual clients, trusts, pension and profit-sharing plans, charitable organizations, and business entities, managing approximately $249 million in assets. The firm employs five model portfolios ranging from Conservative to Aggressive, applying modern portfolio theory with a focus on mutual funds and ETFs, and manages accounts primarily on a non-discretionary basis.
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