Liberty Asset Management provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 101–250 clients last fiscal year.
Liberty Asset Management reports 331 clients. They include 302 individual clients, 26 high-net-worth individuals, and 2 corporations and other businesses. Of its assets, 100.0% ($141M across 579 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 91% | 52% |
| High-net-worth individuals | 8% | 45% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | <1% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 302 | $74M | 52.5% | $245K |
| High-net-worth individuals | 26 | $63.3M | 44.9% | $2.43M |
| Charitable organizations | Fewer than 5 | $244K | 0.2% | $244K |
| Corporations and other businesses | Fewer than 5 | $3.49M | 2.5% | $1.74M |
| Total | 331 | $141M | 100% | — |
- Clients
- 302
- Regulatory AUM
- $74M
- AUM share
- 52.5%
- Avg. per client
- $245K
- Clients
- 26
- Regulatory AUM
- $63.3M
- AUM share
- 44.9%
- Avg. per client
- $2.43M
- Clients
- Fewer than 5
- Regulatory AUM
- $244K
- AUM share
- 0.2%
- Avg. per client
- $244K
- Clients
- Fewer than 5
- Regulatory AUM
- $3.49M
- AUM share
- 2.5%
- Avg. per client
- $1.74M
Total
- Clients
- 331
- Regulatory AUM
- $141M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Liberty Asset Management charges 1.00%–1.50% a year for its Investment Supervisory Services. The fee is billed in advance, is negotiable and requires an account of at least $50,000. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Fixed fees typically range from $300 to $3,000 depending on the arrangement; hourly fees for planning-related services are $150 to $300 per hour.
Liberty Wealth Management owns 75% or more of Liberty Asset Management. The leadership team of Liberty Asset Management includes Chief Compliance Officer Richard Frable. It has 9 employees, 6 of them in advisory roles.
Leadership
Richard FrableChief Compliance Officer/Managing Member
Benjamin ChunkoOwner
Gary MayoOwner
Charles NotiOwner
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
Staff
- 9 employees
- 6 in advisory functions
- 6 state-registered reps
- 5 broker-dealer reps
- 5 insurance agents
- 2 soliciting firms
- Owns 75% or more of Liberty Asset Management, LLC
Liberty Wealth Management
Control person · since August 2006
- Owns 50% to 75% of Liberty Asset Management, LLC
Richard Frable
Control person · since September 2006
- Owns 10% to 25% of Liberty Asset Management, LLC
Charles Noti
since January 2018
- Owns 10% to 25% of Liberty Asset Management, LLC
Benjamin Chunko
since January 2018
- Owns 5% to 10% of Liberty Asset Management, LLC
Gary Mayo
since January 2018
Liberty Asset Management’s regulatory assets grew from $106M (July 2025) to $141M (August 2026); clients were 331 in both filings and employees rose from 6 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $141M | 331 | 9 | 2 |
| July 2025 | $106M | 323 | 6 | 2 |
Besides its headquarters, Liberty Asset Management has 1 office, with 2 listed addresses in Pennsylvania.
Pennsylvania · 2 listed addresses
- 3570 Hamilton BLVD., Suite 301, AllentownHQ
- 656 Main Street, Hellertown
Contact and registration details
- Legal name
- Liberty Asset Management, LLC
- Headquarters
- 3570 Hamilton BLVD., Suite 301, Allentown, PA 18103
- Website
- Not reported
- Phone
- 610-398-7333
- SEC file
- 801-132496
- Structure
- Pennsylvania LLC
- Fiscal year end
- December
Liberty Asset Management uses Fidelity ($141M) as custodian for its separately managed accounts. Liberty Asset Management does not have custody of client assets.
- FidelityNational Financial Services, LLC · Boston, MA · $141M100%
At year end, Liberty Asset Management’s separately managed accounts were mostly in funds (90%) and cash (10%).
What the accounts hold
- Funds90%
- Registered funds89%
- Pooled vehicles1%
- Cash10%
How many clients does Liberty Asset Management have?
Liberty Asset Management has 331 clients and manages $141 million for them, as of August 2026. They include 302 individual clients, 26 high-net-worth individuals, and 2 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 August 2026
What services does Liberty Asset Management offer?
Liberty Asset Management provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Liberty Asset Management charge?
Liberty Asset Management charges 1.00%–1.50% a year for its Investment Supervisory Services. The fee is billed in advance, is negotiable and requires an account of at least $50,000.
Which custodians does Liberty Asset Management use?
Liberty Asset Management’s separately managed account assets are held at National Financial Services, LLC (Boston, MA), with $141M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 August 2026
How many financial advisors does Liberty Asset Management have?
Liberty Asset Management has 6 investment adviser representatives registered with state securities authorities, out of 9 employees, and 6 perform investment advisory functions. 5 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Liberty Asset Management invest in?
At the end of its last fiscal year, Liberty Asset Management’s separately managed accounts held 89% registered funds (mutual funds, ETFs, BDCs), 10% cash and equivalents and 1% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Liberty Asset Management have a minimum investment?
Yes, Liberty Asset Management’s minimum account size for its Investment Supervisory Services is $50K.
Who owns Liberty Asset Management?
Liberty Asset Management’s direct owners are Richard Frable (50% to 75%), Liberty Wealth Management (75% or more), Charles Noti (10% to 25%), Gary Mayo (5% to 10%) and Benjamin Chunko (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 13 August 2026
How does Liberty Asset Management get paid?
Liberty Asset Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Liberty Asset Management?
Liberty Asset Management’s main office is at 3570 Hamilton BLVD., Suite 301, Allentown, PA 18103. Its phone number is 610-398-7333.