Townsend Holdings LLC (Cleveland)

Townsend Holdings provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, 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.

Townsend Holdings: assets under management

The assets under management (AUM) of Townsend Holdings LLC is $16.38 billion. The firm's AUM has grown by 127% since the beginning of its operation, and $5.92 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $13.1 billion in discretionary accounts and $3.28 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $272.96 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $328.08 million.

Townsend Holdings has custody of $6.52 billion in cash and securities for 28 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Townsend Holdings LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Townsend Holdings serves?

The firm provides services to charitable organizations, pooled investment vehicles, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Townsend Holdings is pension and profit sharing plans with 23 clients and $6.89 billion of assets under management. Among the 6 most similar advisory firms, Townsend Holdings has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $16.38 billion for 57 clients. 28% of the firm’s clients are foreign persons or businesses.

Townsend Holdings also advises several private funds. Namely, twenty eight other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Townsend Holdings LLC

The company employs 125 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 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.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 17 indirect owners.

Based in Cleveland

The principal office where Townsend Holdings LLC performs its advisory services is located at 1660 West 2 Nd Street, Cleveland, OH 44113, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 216-781-9090 or by fax 216-781-1407. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at townsendgroup.com.

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