Penso Advisors, LLC (New York)

Penso Advisors provides 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.

Penso Advisors: assets under management

The assets under management (AUM) of Penso Advisors, LLC is $1.05 billion. The firm's AUM has gone down by -22% since the beginning of its operation, and $990.67 million of the total AUM is attributable to clients outside of the United States.

The firm manages $516.36 million in discretionary accounts and $535.4 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $64.55 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $178.47 million.

Investments

The firm invests in cash and cash equivalents the most. They account for 99% of the total AUM. The second-largest asset type is derivatives, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Penso Advisors, LLC for their services and products based on a percentage of assets under management, fixed fees, 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 Penso Advisors serves?

The only and largest group of clients of Penso Advisors is pooled investment vehicles with 9 clients and $825.87 million of assets under management. Among the 9 most similar advisory firms, Penso Advisors has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $825.87 million for 9 clients. 73% of the firm’s clients are foreign persons or businesses.

Penso Advisors also advises several private funds. Namely, four hedge funds. The minimum investment commitment required of non-related persons ranges from $0 to $100,000,000.

Careers at Penso Advisors, LLC

The company employs 13 people that are either part- or full-time employees. 46 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 compensates 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

Indirect Owners

The SEC currently registers 12 indirect owners.

Based in New York

The principal office where Penso Advisors, LLC performs its advisory services is located at 780 Third Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Cedarhurst, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-688-8800 or by fax 212-688-8809. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at penso.com.

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