Charles Pratt & Company, L.L.C. (New York)


Charles Pratt & Company, L.L.C. is a large advisory firm based in New York. It manages $617.65 million of regulatory assets for 648 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of New York.

Charles Pratt & Company, L.L.C provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Charles Pratt & Company, L.L.C: assets under management

The assets under management (AUM) of Charles Pratt & Company, L.L.C. is $617.65 million. The firm's AUM has grown by 17% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $478.35 million in discretionary accounts and $139.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.2 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $554.99 thousand.
Charles Pratt & Company, L.L.C has custody of $617.65 million in cash and securities for 321 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-exchange traded securities the most. They account for 67% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 15% of the firm’s portfolio. Investments in government bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Charles Pratt & Company, L.L.C. 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 Robert Milligan Mclane serves?

The firm provides services to individuals, high net worth individuals, and pooled investment vehicles. The largest group of clients of Robert Milligan Mclane is individuals with 295 clients and $281.6 million of assets under management. Among the 11 most similar advisory firms, Charles Pratt & Company, L.L.C has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $616.6 million for 321 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.

Charles Pratt & Company, L.L.C also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $25,000 for each fund.

Careers at Charles Pratt & Company, L.L.C.

The company employs 10 people that are either part- or full-time employees. 40 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.

Robert Milligan Mclane has been acting as President since 1 Jan 1995. Cynthia Lopez joined the executive team most recently as the Officer Vice President.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
David Pratt Hunt Managing member; chairman 1 Jan 1995 Other 4392955
Peter Paul Nitze Managing member; director 1 Jan 1995 Other 2071859
Harold Irving Pratt Managing member; director 1 Jan 1995 Other 4356257
Anne Huntington Van Ingen Managing member; director 1 Jan 1995 Other 4392980
Deming Pratt Holleran Managing member; director 1 Jan 1995 Other 4393003
Mitchell Charles Pratt Managing member; director 1 Jan 1995 Other 4396416
Robert Milligan Mclane Director 1 Jan 1995 Other 4392962
Peter P Nitze Director 1 Jan 1995 Other 2071859
Estate Of Dorothy P. Barrett Trust 1 Jan 1995 Other 13-7186770
Richardson Pratt Chairman emeritus 1 Jan 1995 Other 4392922
Ellen Marie Lazarus Officer - president & ceo 1 Mar 1999 Other 1253495
Marie Antonia Capasso Vice-president & secretary 1 Apr 2000 Other 4393014
Frank G Sucher Senior vice-president/client relations 1 Dec 2000 Other 4393012
Frank George Sucher Officer - senior vice-president/client relations 1 Dec 2000 Other 4393012
Richard Joseph Coster Officer - vice-president, treasurer, chief compliance officer 1 Jan 2001 Other 4393019
Estate Of Richardson Pratt Estate 1 May 2001 Other 13-7260622
Mary Offutt Pratt Member 1 Jul 2002 Other 4648048
David Offutt Pratt Managing member; director 1 Oct 2003 Other 4780663
Alexander Wilmerding Director 1 Oct 2003 Other 4780672
Mae King Go Vice president 1 Aug 2005 Other 3165901
Robert Allen Sussman Vice president - tax 1 Jul 2007 Other 5512867
Panfilo Ralph Almonte Officer - vice president - tax 1 Apr 2012 Other 6174719
Ann Panoli Officer - vice president 1 Jul 2013 Other 6102811
Cynthia Lopez Officer - vice president 1 Dec 2016 Other 6764808

Based in New York

The principal office where Charles Pratt & Company, L.L.C. performs its advisory services is located at 767 Third Avenue, New York, NY 10017 9026, 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 212-867-4444 or by fax 212-867-0028. The normal business hours are 9:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at charlespratt.com.

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