Karpus Management Inc (Pittsford)

Name: Karpus Management Inc
Address: 183 Sully's Trail, Pittsford, NY, 14534
Telephone: 585-586-4680

Karpus Management Inc is a large advisory firm based in Pittsford. It manages $3.44 billion of regulatory assets for 2,237 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 36 other states.

Karpus 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.

Karpus Management: assets under management

The assets under management (AUM) of Karpus Management Inc is $3.44 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 578% since the beginning of its operation, and $2.35 million of the total AUM is attributable to clients outside of the United States.

The firm manages $3.44 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.54 million each.

Investments

The firm invests in investment and business development companies the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in exchange traded securities form 1% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Karpus Management Inc 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 George Karpus 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 George Karpus is high net worth individuals with 723 clients and $2.16 billion of assets under management. Among the 9 most similar advisory firms, Karpus Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $3.39 billion for 1,454 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.

Karpus Management doesn't advise any private funds.

Careers at Karpus Management Inc

The company employs 35 people that are either part- or full-time employees. 66 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There are 11 people 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.

George Karpus has been acting as President since 1 Jan 1987. Sharon Lind Thornton joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
George Karpus	President	1 Jan 1987	75% - 100%	2356404
Joann Vandegriff	Senior vice president	1 Jan 1987	Other	2356605
Sophie Phyllis Karpus	Director	1 Jan 1987	Other	4379659
Dana Robert Consler	Senior vice president	1 Nov 1994	Other	4379664
Dana Consler	Vice president	1 Nov 1994	Other	4379664
Sharon L Thornton	Senior analyst/port. mgr.	1 Sep 1995	Other	1148961
Scott Nasca	Corporate vice president	1 Oct 1998	Other	2356676
Kathleen Finnerty Crane	Chief financial officer / chief compliance officer	1 Jan 1999	Other	4379668
Thomas Michael Duffy	Client support manager	1 Feb 1999	Other	4709344
Karin Melissa Popham	Accting/hr asst	1 Aug 2003	Other	4709319
Cody B Bartlett	Investment strategist and senior fixed income analyst	1 May 2004	Other	5212746
Thomas Michael Duffy	Vice president	1 May 2006	Other	4709344
Joann Vandegriff	Partner emiritus	1 Jan 2008	Other	2356605
Sharon Lind Lomando	Senior director of investments	1 Jul 2008	Other	1148961
Sharon L Thornton	Senior director of investments	1 Jul 2008	Other	1148961
Cody B Bartlett	Managing director of investments/investment strategist	1 Jul 2008	Other	5212746
Sharon L Lomando	Senior director of investments	1 Jul 2008	Other	1148961
Daniel Lee Lippincott	Senior tax-sensitive manager / municipal analyst	1 Aug 2008	Other	6019452
Daniel L Lippincott	Senior tax-sensitive manager / municipal analyst	1 Aug 2008	Other	6019452
Iii William G Dostman	Senior domestic equity manager / equity analyst	1 Sep 2009	Other	6019461
George William Karpus	Chief investment strategist / chairman of the board	1 Aug 2011	75% - 100%	2356404
George W. Karpus	Chief investment strategist / chairman of the board	1 Aug 2011	75% - 100%	2356404
Sharon Lind Thornton	Chief compliance officer	1 Aug 2018	Other	1148961

Based in Pittsford

The principal office where Karpus Management Inc performs its advisory services is located at 183 Sully's Trail, Pittsford, NY 14534, which is also the mailing address of the firm. An additional office of the firm is in Naples, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 585-586-4680 or by fax 585-586-4315. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at karpus.com and its LinkedIn profile.