Peconic Partners LLC (New York)

Name: Peconic Partners LLC
Address: 599 Lexington Avenue, New York, NY, 10022
Telephone: 212-904-0440

Peconic Partners LLC is a large advisory firm based in New York. It manages $368.23 million of regulatory assets for 12 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of New York.

Peconic Partners 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.

Peconic Partners: assets under management

The assets under management (AUM) of Peconic Partners LLC is $368.23 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 3435% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $368.23 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $30.69 million each.

Peconic Partners has custody of $364.53 million in cash and securities for 11 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 54% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 37% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Peconic Partners 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 Peconic Partners serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Peconic Partners is pooled investment vehicles with 3 clients and $257.58 million of assets under management. Among the 11 most similar advisory firms, Peconic Partners has the 5th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $322.06 million for 8 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.

Peconic Partners also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons ranges from $100,000 to $1,000,000.

Careers at Peconic Partners 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 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
William Francis Harnisch	Managing member	1 Apr 1997	75% - 100%	1579102
Joseph William Sullivan	Chief compliance officer, evp, treasurer & secretary	1 May 1999	Other	1129689
Fla Advisers L.L.C.	Sole member of the applicant	1 Dec 1999	75% - 100%	108857
Joel Basil Leff	Manager	1 Dec 1999	Other	1703726
William Francis Harnisch	Manager	1 Dec 1999	Other	1579102
Richard Harvey Adelaar	Manager	1 Dec 1999	Other	2060363
Kristin Brett Mariani	Director of compliance	1 Aug 2000	Other	2740967
Joseph William Sullivan	Vp, cfo & secretary	1 Dec 2000	Other	1129689
Thomas A Calvin	Senior vice president	1 Jun 2001	Other	1892625
Thomas A Galvin	Senior vice president	1 Jun 2001	Other	1892625
Mayra Woo	Executive vice president	1 Dec 2001	Other	2545814
Michael Cook	Senior vice president	1 May 2002	Other	2493208
William L Potter	Senior vice president	1 Mar 2003	Other	2580984
Thomas A Galvin	Executive vice president	1 Jul 2003	Other	1892625
Richard Harvey Adelaar	Executive vice president	1 Dec 2004	Other	2060363
Richard Harvey Adelaar	Executive vice president	1 Feb 2005	Other	2060363
Wook Nmn Lee	Chief compliance officer/chief operating officer/ chief technology officer	1 Oct 2008	Other	5608970
Wook Lee	Chief compliance officer/chief operating officer/ chief technology officer	1 Oct 2008	Other	5608970

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
William Francis Harnisch	Manager and member	1 Jun 1997	25% - 50%	1579102

Based in New York

The principal office where Peconic Partners LLC performs its advisory services is located at 599 Lexington Avenue, New York, NY 10022, which is also the mailing address of the firm. An additional office of the firm is in East Quogue, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-904-0440 or by fax 212-935-6547. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at peconic.com.