Advent Capital Management, LLC is a large advisory firm based in New York. It manages $8.58 billion of regulatory assets for 503 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, New York, and Texas.
Advent Capital Management 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.
The assets under management (AUM) of Advent Capital Management, LLC is $8.58 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 783% since the beginning of its operation, and $1.91 billion of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Advent Capital Management, 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.
The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Advent Capital Management is pension and profit sharing plans with 43 clients and $3.3 billion of assets under management. Among the 13 most similar advisory firms, Advent Capital Management has the highest percentage of pension and profit sharing plans out of all clients.
The amount of regulatory assets under management is $8.58 billion for 503 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 22% of the firm’s clients are foreign persons or businesses.
Advent Capital Management also advises several private funds. Namely, one hedge fund and one other private fund. The minimum investment commitment required of non-related persons is $3,000,000 for each fund.
The company employs 53 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There’s a single person 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.
Kris Tate Haber joined the executive team most recently as the Chief Operating Officer.
The principal office where Advent Capital Management, LLC performs its advisory services is located at 888 Seventh Avenue, New York, NY 10019, 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 212-482-1600 or by fax 212-480-9655. The normal business hours are 8 a.m. - 6 p.m. on Monday - Friday. You can find more information about the New York firm at adventcap.com.