Company Overview
Novem Group is a multifaceted organization operating in the financial advisory and automotive component industries, with offices in Rochester, NY, Jupiter, FL, and headquarters in Vorbach, Bavaria. The firm is segmented into two core divisions: financial services and automotive interiors, showcasing expertise in both areas.
Financial Services Division
Novem Group is an SEC-Registered investment adviser providing wealth management, insurance, and retirement planning services. The firm's financial advisory services are recognized for adaptability and tailored solutions, operating through Novem Group and Osaic Wealth, Inc. With a revenue of $9.9 million and 31 employees, the firm maintains a significant presence in the financial services sector.
Automotive Interiors Division
Novem Group's automotive segment is a global leader in producing high-quality decorative components and functional elements for vehicle interiors. Specializing in fine wood decorative components and innovative plastic and metal engineering, this division serves major automobile manufacturers worldwide. As of March 31, 2020, this division employs 5,927 staff across twelve international locations with an estimated annual revenue of $481.4 million.
Key Executives and Personnel
- Patrick Manuel - President & Wealth Advisor
- Contact: 585-348-9552 | pmanuel@novemgroup.com
- Location: East Rochester, NY
- Education: University of Rochester
- Notable Achievement: Instrumental in the firm's inclusion as the 64th fastest-growing private company by the Greater Rochester Chamber of Commerce.
- Charles Herendeen - Managing Director, Senior Financial Advisor
- Contact: 585-348-9549 | cherendeen@novemgroup.com
- Specialization: Group retirement plans.
- Jeremy Raco - Senior Vice President
- Contact: 585-348-9546 | jraco@novemgroup.com
- Expertise: Investment, retirement, estate, and risk management planning.
- Cathy Gueli, CFP® - Wealth Advisor
- Contact: 585-348-3227 | cgueli@novemgroup.com
- Credential: Certified Financial Planner.
- Greg Wagner - Investment Advisor Representative
- Contact: 585-440-6368 | gwagner@novemgroup.com
- Focus: Serving families, professionals, and business owners in Western New York.
- Robert Bartolotta - CEO of the Automotive Interiors Division
- Approval Rating: 90%.
Other notable personnel include:
- Taylor Myer - Technical Manager
- Eduardo Suazo - Senior Manager, Customer Team
- Magdalena Bubala - Finance Manager, USA
- Marcus Donald - Resident Quality Engineer
- Ricardo Leonel - EHS Engineer
Recent Financial Performance and News
- The financial services division recently faced a 9.3% decline in revenue to €635.5 million, marking a revenue decline of 16.9% for the initial nine months of the subsequent financial year. Strategic adjustments include a suspension of dividends and the closure of a plant in Italy, reflecting responses to current market challenges.
Competitors
Novem Group operates amid a competitive landscape with a diverse range of competitors in both sectors:
- Nikola Motor Company: Revenue - $0M, Employees - 1253, Employee Growth - -17%
- EchoPark Automotive: Revenue - $323.9M, Employees - 701, Employee Growth - -6%
- Manheim Denver: Revenue - $18.7M, Employees - 63, Employee Growth - 3%
- John Elway Cadillac: Revenue - $12.9M, Employees - 49, Employee Growth - 9%
- Holmes Honda SV: Revenue - $2M, Employees - 10, Employee Growth - 0%
Strategic Positioning
Novem Group's strategic advantages include its dual-sector expertise, comprehensive system supplier capabilities in the automotive division, and tailored financial services. The firm's advanced engineering capabilities and robust partnerships with leading automotive manufacturers are complemented by its skilled leadership and presence in the financial advisory space. This strategic positioning enables Novem Group to maintain its status as a key player in both industries, emphasizing quality and innovation.
