Family Management Corporation (New York)

Family Management Corporation is a large advisory firm based in New York. It manages $1.78 billion of regulatory assets for 1,709 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 33 other states.

Family Management Corporation provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, selection of other advisers, and serves as general partner to investment funds that are exempt from registration under the investment advisers act 1940.. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Family Management Corporation: assets under management

The assets under management (AUM) of Family Management Corporation is $1.78 billion. The firm's AUM has grown by 114% since the beginning of its operation, and $28.26 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.72 billion in discretionary accounts and $57.33 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.98 million.

Family Management Corporation has custody of $119.84 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 40% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 15% of the firm’s portfolio. Investments in state and local bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Family Management Corporation for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Family Management Corporation serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Family Management Corporation is high net worth individuals with 224 clients and $889.09 million of assets under management. Among the 12 most similar advisory firms, Family Management Corporation has the 6th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.78 billion for 646 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Family Management Corporation also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Family Management Corporation

The company employs 16 people that are either part- or full-time employees. 38 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 3 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 don’t receive compensation from other entities for client referrals.

David Randall Schawel has served as the Chief Investment Officer since 1 Nov 2017. Jan Eric Sucic joined the executive team most recently as the Chief Client Services Officer.

Direct owners and executive officers

Based in New York

The principal office where Family Management Corporation performs its advisory services is located at 485 Madison Avenue, 19 Th Fl, New York, NY 10022, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-872-9600 or by fax 212-758-4020. The normal business hours are 8:30 to 5:30 on Monday - Friday. You can find more information about the New York firm at familymanage.com.

Registered investment advisers similar to Family Management Corporation

• Greenwood Resources Capital Management
• Volaris Capital Management
• Carlson Capital Management
• J.F. Lehman And Company
• Klingman And Associates
• Staley Capital Advisers
• Citicorp Investment Services
• Vista Wealth Management Group
• Hsbc Asset Management (Singapore) Limited
• Three Bell Capital
• Courier Capital Corp
• Prodigy Asset Management
• Rtw Investments
• Gsa Capital Partners (New York)
• Lead Edge Capital Management