Conning, Inc. (Hartford)

Name: Conning, Inc.
Address: One Financial Plaza, Hartford, CT, 06103
Telephone: 860-299-2000

Conning, Inc. is a large advisory firm based in Hartford. It manages $99.9 billion of regulatory assets for 489 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Connecticut, Louisiana, New York, and Ohio.

Conning provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, publication of newsletters, and consulting and research services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Conning: assets under management

The assets under management (AUM) of Conning, Inc. is $99.9 billion. The firm's AUM has grown by 37% since the beginning of its operation, and $37.45 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $98.4 billion in discretionary accounts and $1.5 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $207.16 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $107.38 million.

Investments

The firm invests in other assets the most. They account for 23% of the total AUM. The second-largest asset type is state and local bonds, which make up 9% of the firm’s portfolio. Investments in government bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Conning, Inc. for their services and products based on a percentage of assets under management, hourly charges, subscription fees, fixed fees, and performance-based fees. Subscribers pay a regular fee for the advisory firm’s newsletter or periodical. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Conning serves?

The firm provides services to insurance companies, charitable organizations, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Conning is insurance companies with 121 clients and $91.24 billion of assets under management. Among the 10 most similar advisory firms, Conning has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $99.77 billion for 155 clients. 6% of the firm’s clients are foreign persons or businesses.

Conning doesn't advise any private funds.

Careers at Conning, Inc.

The company employs 260 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Conning & Company	Owner	1 Jul 1996	75% - 100%	06-1174588
Salvatore Correnti	President & ceo	1 Jul 2001	Other	1856799
James P Romano	Managing director, index & risk management	1 May 2002	Other	2513671
William Michael Bourque	Director, head of legal, corporate secretary	1 May 2002	Other	3059664
Stephen Sonlin	Managing director, research & consulting	1 Oct 2002	Other	4766430
Richard Louis Sega	Managing director, cio of asset management	1 Feb 2003	Other	2241037
Glenn Heiser	Managing director, chief administrative officer	1 Dec 2003	Other	4648423
Robert Stedman Pearce	Managing director, chief compliance officer	1 Nov 2005	Other	1991468
Linwood Earle Bradford	President, chief operating officer	1 Sep 2010	Other	4179446
Jung Won Lee	Managing director, chief financial officer	1 Jan 2011	Other	2791334
Vi (Viola) R. Smalley	Managing director, chief legal officer/corporate secretary	1 Jan 2011	Other	5899872
Viola Roxanne Smalley	Chief legal officer/corporate secre	1 Jan 2011	Other	5899872
Linwood Earle Bradford	Chief executive officer & president	1 Jan 2012	Other	4179446
Michael Edward Haylon	Managing director, head of sales	1 Dec 2014	Other	1884528
Owais Tahir Rana	Managing director, investment solutions	1 Feb 2016	Other	5994514

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Conning Holdings Corp	Member	1 Oct 2009	75% - 100%	27-0945244
Aquiline Financial Services Fund (Offshore) L.P.	Shareholder	1 Oct 2009	25% - 50%	00-0000000
Aquiline Financial Services Fund L.P.	Shareholder	1 Oct 2009	50% - 75%	20-3831810
Inc. Conning U.S. Holdings	Shareholder	1 Sep 2015	75% - 100%	47-4844493
Conning Holdings Limited	Shareholder	1 Sep 2015	75% - 100%	98-1259764
Ltd Cathay Life Insurance Co.	Shareholder	1 Sep 2015	75% - 100%	03374707
Ltd. Cathay Financial Holding Co.	Shareholder	1 Sep 2015	75% - 100%	70827406

Based in Hartford

The principal office where Conning, Inc. performs its advisory services is located at One Financial Plaza, Hartford, CT 06103, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 860-299-2000 or by fax 860-299-2479. The normal business hours are 8:00 am - 4:45pm on Monday - Friday. You can find more information about the New York firm at conning.com.