Banorte Asset Management, Inc. (New York)

Name: Banorte Asset Management, Inc.
Address: 140 East 45 Th Street, New York, NY, 10017
Telephone: 212-484-5200

Banorte Asset Management, Inc. is a mid-sized advisory firm based in New York. It manages $30.42 million of regulatory assets for 16 client accounts. It has been registered with the SEC as an adviser since 2017.

Banorte Asset Management provides portfolio management for individuals and small businesses 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.

Banorte Asset Management: assets under management

The assets under management (AUM) of Banorte Asset Management, Inc. is $30.42 million. The company doesn't manage any assets belonging to foreign clients.

Investments

The firm invests in pooled investment vehicles the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 14% of the firm’s portfolio. Investments in government bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Banorte Asset Management, Inc. for their services and products based on a percentage of assets under management. 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 Banorte Asset Management serves?

The only and largest group of clients of Banorte Asset Management is high net worth individuals with 14 clients and $23.72 million of assets under management. Among the 1 most similar advisory firms, Banorte Asset Management has the 0th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $23.72 million for 14 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Banorte Asset Management doesn't advise any private funds.

Careers at Banorte Asset Management, Inc.

The company employs 17 people that are either part- or full-time employees. 53 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Afin International Holdings	Sole shareholder of applicant	1 Dec 1999	75% - 100%	13-3964162
Carlos Antonio Mena	Managing director	1 Jun 2006	Other	2324329
Jose Francisco Saa	Finance/administrator	1 Jul 2006	Other	1677154
Chiashin Chen	Chief compliance officer	1 Aug 2010	Other	2992660

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Casa De Bolsa Banorte S.A. De C.V.	Sole shareholders of afin intl. holdings inc.	1 Dec 1999	75% - 100%	foreign
Grupo Financiero Banorte S.A. De C.V.	Sole shareholder of casa de bolsa banorte	1 Dec 1999	75% - 100%	foreign

Based in New York

The principal office where Banorte Asset Management, Inc. performs its advisory services is located at 140 East 45 Th Street, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in The Woodlands, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-484-5200 or by fax 212-484-5290. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at banortesecurities.com.