Inverness Counsel, LLC (New York)

Name: Inverness Counsel, LLC
Address: 845 Third Avenue, New York, NY, 10022 6601
Telephone: 212-207-2100

Inverness Counsel, LLC is a large advisory firm based in New York. It manages $2.95 billion of regulatory assets for 1,157 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Arizona, California, Colorado, and 20 other states.

Inverness Counsel provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Inverness Counsel: assets under management

The assets under management (AUM) of Inverness Counsel, LLC is $2.95 billion. The firm's AUM has grown by 33% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.52 billion in discretionary accounts and $435.83 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.37 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.59 million.

Inverness Counsel has custody of $2.95 billion in cash and securities for 442 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 13% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Inverness Counsel, LLC 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 Inverness Counsel serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Inverness Counsel is pension and profit sharing plans with 8 clients and $740.3 million of assets under management. Among the 10 most similar advisory firms, Inverness Counsel has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $2.14 billion for 808 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.

Inverness Counsel doesn't advise any private funds.

Careers at Inverness Counsel, LLC

The company employs 32 people that are either part- or full-time employees. 47 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 compensates 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
Cromarty Management Corp.	Member	1 Jan 1992	Other	13-1993476
Henry Paul Renard	Executive vice president	1 Sep 2009	Other	374064
Patrick Rulon Miller	Senior vice president	1 Sep 2009	Other	4363884
Enno W Ercklentz	Chief compliance officer, secretary and manager	1 Jun 2010	Other	4363890
Robert Barr Deans	Senior vice president, manager	1 Dec 2010	Other	4363866
Philip S. Lawrence	Member, president, ceo	1 Dec 2010	Other	4363899
David Walker Laughlin	Member, chairman, manager	1 Dec 2010	Other	4363862
Ici (New York) Holdings Llc	Member	1 Dec 2010	25% - 50%	27-3977558
Charles Riviezzo	Manager, chief compliance officer	1 Dec 2010	Other	5872199
Charles D. Riviezzo	Manager, chief compliance officer	1 Dec 2010	Other	5872199
Matthew Warner	Coo	1 Dec 2010	Other	5631089
Robert Kent Maddock	Senior vice president	1 Dec 2010	Other	5872193
Mariette Louise Graeme Campbell	Senior vice president	1 Dec 2010	Other	3139675
Richard Chesterton	Senior vice president	1 Dec 2010	Other	5872191
Bruce Bodinger	Controller	1 Dec 2010	Other	5872188
Natalie Williams	Chief compliance officer	1 Dec 2011	Other	6015484

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Deans Children Issue Trust	Shareholder	1 Jan 1992	75% - 100%	13-6865251
Robert Barr Deans	Trustee	1 Sep 2006	Other	4363866
2010 Ici Family Trust	Member	1 Dec 2010	50% - 75%	27-6962949
Alan S. Berlin	Trustee	1 Dec 2010	Other	5873275

Based in New York

The principal office where Inverness Counsel, LLC performs its advisory services is located at 845 Third Avenue, New York, NY 10022 6601, 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 212-207-2100 or by fax 212-207-2165. 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 invernesscounsel.com.