Papamarkou Wellner Asset Management, Inc. (New York)

Name: Papamarkou Wellner Asset Management, Inc.
Address: 430 Park Avenue, New York, NY, 10022
Telephone: 212-223-2020

Papamarkou Wellner Asset Management, Inc. is a large advisory firm based in New York. It manages $262.47 million of regulatory assets for 133 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 7 other states.

Papamarkou Wellner Asset Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, selection of other advisers, publication of newsletters, and advice on asset allocation. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Papamarkou Wellner Asset Management: assets under management

The assets under management (AUM) of Papamarkou Wellner Asset Management, Inc. is $262.47 million. The firm's AUM has grown by 3931% since the beginning of its operation, and $13.1 million of the total AUM is attributable to clients outside of the United States.

The firm manages $105.5 million in discretionary accounts and $156.98 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.23 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.34 million.

Papamarkou Wellner Asset Management has custody of $105.5 million in cash and securities for 86 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 63% of the total AUM. The second-largest asset type is exchange traded securities, which make up 37% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Papamarkou Wellner Asset Management, Inc. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Thorne Lewis Perkin serves?

The firm provides services to 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 Thorne Lewis Perkin is high net worth individuals with 117 clients and $235.05 million of assets under management. Among the 10 most similar advisory firms, Papamarkou Wellner Asset Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $262.47 million for 133 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 11% of the firm’s clients are foreign persons or businesses.

Papamarkou Wellner Asset Management also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Papamarkou Wellner Asset Management, Inc.

The company employs 9 people that are either part- or full-time employees. 78 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Thorne Lewis Perkin has been acting as President since 1 Jan 2014. Karl Gert Wellner joined the executive team most recently as the Director; Sole Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Karl Gert Wellner	Chairman, ceo, chief compliance officer	1 Mar 2003	Other	4640763
Karl Gert Wellner	Director; sole shareholder	1 Feb 2008	75% - 100%	4640763
Thorne Lewis Perkin	President	1 Jan 2014	Other	4016951

Based in New York

The principal office where Papamarkou Wellner Asset Management, Inc. performs its advisory services is located at 430 Park Avenue, New York, NY 10022, 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 212-223-2020 or by fax 212-758-9804. The normal business hours are 9:00am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at papamarkou.com.