Klingman And Associates, LLC (New York)

Name: Klingman And Associates, LLC
Address: 120 West 45 Th Street, New York, NY, 10036
Telephone: 212-867-7647

Klingman And Associates, LLC is a large advisory firm based in New York. It manages $1.78 billion of regulatory assets for 1,846 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Connecticut, and 11 other states.

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

Klingman And Associates: assets under management

The assets under management (AUM) of Klingman And Associates, LLC is $1.78 billion. The firm's AUM has grown by 245% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.39 billion in discretionary accounts and $384.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.18 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $575.63 thousand.

Klingman And Associates has custody of $361.66 million in cash and securities for 44 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 74% of the total AUM. The second-largest asset type is state and local bonds, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Klingman And Associates, LLC for their services and products based on a percentage of assets under management and fixed 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 Gerard Albert Klingman serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Gerard Albert Klingman is high net worth individuals with 232 clients and $1.71 billion of assets under management. Among the 9 most similar advisory firms, Klingman And Associates has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.78 billion for 394 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.

Klingman And Associates doesn't advise any private funds.

Careers at Klingman And Associates, LLC

The company employs 14 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. 2 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.

Gerard Albert Klingman has been acting as President since 1 Mar 2001. Michael David Paley joined the executive team most recently as the Chief Compliance Officer/Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Nancy Carolyn Brown	Vice president/chief compliance officer	1 Jan 2001	Other	2706144
Gerard Albert Klingman	President/managing member	1 Mar 2001	75% - 100%	1196667
Craig Laub	Vice president	1 Jan 2006	Other	3212061
Michael David Paley	Chief compliance officer/chief operating officer	1 Nov 2014	Other	6324110

Based in New York

The principal office where Klingman And Associates, LLC performs its advisory services is located at 120 West 45 Th Street, New York, NY 10036, 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 212-867-7647 or by fax 212-752-2150. 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 klingmanria.com.