First Light Asset Management, LLC (Edina)

Name: First Light Asset Management, LLC
Address: 3300 Edinborough Way, Edina, MN, 55435
Telephone: 952-831-6500

First Light Asset Management, LLC is a large advisory firm based in Edina. It manages $771.1 million of regulatory assets for 906 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Arizona, California, District of Columbia, and 12 other states.

First Light Asset Management provides portfolio management for individuals and small businesses, 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.

First Light Asset Management: assets under management

The assets under management (AUM) of First Light Asset Management, LLC is $771.1 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 975% since the beginning of its operation, and $6.17 million of the total AUM is attributable to clients outside of the United States.

The firm manages $771.1 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $851.11 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Light Asset 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.

What kind of clients First Light Asset Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of First Light Asset Management is high net worth individuals with 693 clients and $374.43 million of assets under management. Among the 9 most similar advisory firms, First Light Asset Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $771.1 million for 906 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.

First Light Asset Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at First Light Asset Management, 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. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mathew Paul Arens	Managing member/chief compliance officer	1 Aug 2013	75% - 100%	5639729
Mathew Paul Arens	Managing member, ceo & senior portfolio manager	1 Sep 2013	75% - 100%	5639729
Brett Thomas Johnson	Member, senior research analyst, chief compliance officer	1 Sep 2013	Other	4953378
Steven Francis Crowley	Managing director of research	1 Mar 2014	Other	1926614
Brian Carroll Beh	Member, president	1 Jan 2015	Other	1500962
Jin Kyong Lien	Chief compliance officer	1 Mar 2017	Other	6764729
Brett Thomas Johnson	Senior research analyst & founding principal	1 Sep 2018	Other	4953378

Based in Edina

The principal office where First Light Asset Management, LLC performs its advisory services is located at 3300 Edinborough Way, Edina, MN 55435, which is also the mailing address of the firm. An additional office of the firm is in Mill Valley, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-831-6500 or by fax 952-314-9600. The normal business hours are 8am-4:30pm on Monday - Friday. You can find more information about the New York firm at firstlightam.com.