Lmcg Investments, LLC (Boston)

Name: Lmcg Investments, LLC
Address: 200 Clarendon St., Boston, MA, 02116
Telephone: 617-380-5600

Lmcg Investments, LLC is a large advisory firm based in Boston. It manages $6.99 billion of regulatory assets for 1,330 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Lmcg Investments provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lmcg Investments: assets under management

The assets under management (AUM) of Lmcg Investments, LLC is $6.99 billion. The firm's AUM has grown by 17% since the beginning of its operation, and $522.26 million of the total AUM is attributable to clients outside of the United States.

The firm manages $6.57 billion in discretionary accounts and $419.91 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.01 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $24.7 million.

Lmcg Investments has custody of $1.12 billion in cash and securities for 668 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 74% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 14% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lmcg Investments, LLC for their services and products based on a percentage of assets under management and performance-based 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 Lmcg Investments serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Lmcg Investments is investment companies with 11 clients and $1.92 billion of assets under management. Among the 10 most similar advisory firms, Lmcg Investments has the 3rd highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $6.99 billion for 2,184 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Lmcg Investments also advises several private funds. Namely, one hedge fund and one other private fund. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $5,000,000.

Careers at Lmcg Investments, LLC

The company employs 64 people that are either part- or full-time employees. 42 percent of the employees work as investment advisers or researchers. 13 employees are registered as investment adviser representatives 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.

Jeffrey Parker Davis has served as the Chief Investment Officer since 1 Jul 2009. Christopher J. Carey joined the executive team most recently as the Board Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Iii Joseph F Tower	Chief compliance officer, chief operating officer	1 May 2009	Other	2489335
Jeffrey Parker Davis	Chief investment officer	1 Jul 2009	Other	2083043
Kenneth Leslie Swan	President, chief executive officer, board member	1 Jul 2009	Other	4875165
Llc Convergent Capital Management	Member	1 Jul 2009	50% - 75%	34-1975129
William Jay Freeman	Board member	1 Jul 2009	Other	4650630
Lee Paul Munder	Board member	1 Jul 2009	Other	2042028
R Todd Vingers	Board member	1 Jul 2009	Other	2556035
Lp Rednum Family Investments	Member	1 Jul 2009	25% - 50%	65-1065369
Richard Scott Gershen	Board member	1 Nov 2011	Other	2192421
Edmund H Price	Chief legal officer	1 Sep 2015	Other	5225964
Christopher J. Carey	Board member	1 Jan 2017	Other	4941936

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Lee Paul Munder	Principal owner	1 Aug 2000	25% - 50%	2042028
City National Corporation	Member	1 Jul 2009	50% - 75%	95-2568550
Rbc Usa Holdco Corporation	Owner	1 Nov 2015	75% - 100%	20-0563684
Royal Bank Of Canada	Ultimate owner	1 Nov 2015	75% - 100%	13-535785

Based in Boston

The principal office where Lmcg Investments, LLC performs its advisory services is located at 200 Clarendon St., Boston, MA 02116, 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 617-380-5600 or by fax 617-380-5598. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at lmcg.com and its LinkedIn profile.