Spruceview Capital Partners LLC (Denver)

Name: Spruceview Capital Partners LLC
Address: 200 Fillmore Street, Denver, CO, 80206
Telephone: 303-586-2416

Spruceview Capital Partners LLC is a large advisory firm based in Denver. It manages $315.65 million of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Colorado, Illinois, and Massachusetts.

Spruceview Capital Partners provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Spruceview Capital Partners: assets under management

The assets under management (AUM) of Spruceview Capital Partners LLC is $315.65 million. The firm's AUM has grown by 212% since the beginning of its operation, and $180.35 million of the total AUM is attributable to clients outside of the United States.

The firm manages $164.4 million in discretionary accounts and $151.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $23.49 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $151.25 million.

Spruceview Capital Partners has custody of $130.39 million in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 96% of the total AUM. The second-largest asset type is exchange traded securities, which make up 3% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

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

The only and largest group of clients of Spruceview Capital Partners is pooled investment vehicles with 5 clients and $130.39 million of assets under management. Among the 10 most similar advisory firms, Spruceview Capital Partners has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $130.39 million for 5 clients. 54% of the firm’s clients are foreign persons or businesses.

Spruceview Capital Partners also advises several private funds. Namely, one hedge fund and two private equity funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $1,000,000.

Careers at Spruceview Capital Partners LLC

The company employs 12 people that are either part- or full-time employees. 58 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.

Richard Walter Sabo has served as the Chief Investment Officer since 1 Jan 2015. David Wayne Zalaznick joined the executive team most recently as the Limited Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David H Russ	Chief investment officer	1 Jun 2012	Other	5671363
Richard Walter Sabo	Chief executive officer	1 Nov 2013	Other	1031155
Scott Allan Macdonald	Chief operating officer and chief compliance officer	1 Mar 2014	Other	2626266
Kenneth Ross Christoffersen	Chief legal officer	1 Apr 2014	Other	2340913
Spruceview Capital Holdings Lp	Manager, member	1 Apr 2014	75% - 100%	37-1759514
Richard Walter Sabo	Chief investment officer	1 Jan 2015	Other	1031155
Richard Walter Sabo	Co-chief investment officer	1 Jun 2016	Other	1031155
James Michael Reidy	Co-chief investment officer	1 Jun 2016	Other	2811994

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Limited Jz Capital Partners	Shareholder	1 Feb 2012	25% - 50%	98-0211602
Inc. Jzbc	General partner	1 Jun 2014	Other	46-1231274
Limited Jz Capital Partners	Shareholder	1 Jun 2014	25% - 50%	98-0211602
David Wayne Zalaznick	Limited partner	1 Dec 2017	25% - 50%	712135

Based in Denver

The principal office where Spruceview Capital Partners LLC performs its advisory services is located at 200 Fillmore Street, Denver, CO 80206, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 303-586-2416. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at spruceviewpartners.com.