Legg Mason Private Portfolio Group, LLC (New York)

Legg Mason Private Portfolio Group, LLC is a large advisory firm based in New York. It manages $82.26 billion of regulatory assets for 127,670 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Legg Mason Private Portfolio Group provides portfolio management for individuals and small businesses 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.

Legg Mason Private Portfolio Group: assets under management

The assets under management (AUM) of Legg Mason Private Portfolio Group, LLC is $82.26 billion. The firm's AUM has grown by 53% since the beginning of its operation, and $346.83 million of the total AUM is attributable to clients outside of the United States.

The firm manages $55.38 billion in discretionary accounts and $26.88 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $433.98 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $419.95 million.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is government bonds, which make up 8% of the firm’s portfolio. Investments in investment and business development companies form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Legg Mason Private Portfolio Group, 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 Terrence James Murphy serves?

The firm provides services to individuals, charitable organizations, other investment advisers, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Terrence James Murphy is individuals with 121,702 clients and $42.01 billion of assets under management. Among the 6 most similar advisory firms, Legg Mason Private Portfolio Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $82.26 billion for 127,670 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.

Legg Mason Private Portfolio Group doesn't advise any private funds.

Careers at Legg Mason Private Portfolio Group, LLC

The company employs 10 people that are either part- or full-time employees. No employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Terrence James Murphy has been acting as President since 1 Mar 2011. Jeffrey Allen Nattans joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Legg Mason	Sole member	1 Oct 2006	75% - 100%	52-1200960
Mark Raymond Fetting	Chief executive officer	1 Oct 2006	Other	733409
Barbara Brooke Manning	Chief compliance officer	1 Oct 2006	Other	3198494
Roger Paradiso	President and chief investment officer	1 Oct 2006	Other	1988315
Mark Raymond Fetting	Director	1 Jan 2007	Other	733409
Timothy Charles Scheve	Director	1 Jan 2007	Other	1319072
Peter Lanning Bain	Director	1 Jan 2007	Other	4221890
Michael Jay Scotto	Chief investment strategist	1 Jan 2007	Other	1335289
Darren Phillip Recupero	Chief operating officer	1 Jan 2007	Other	2147771
Fred Steven Jensen	Chief compliance officer	1 Jun 2007	Other	3203649
Charles James Daley	Director	1 Aug 2007	Other	1808224
David Stuart Penn	President and chief executive officer	1 Mar 2008	Other	1284964
Lisa Maria Hanes	Chief operating officer	1 Apr 2008	Other	2972287
Todd Frederick Kuehl	Chief compliance officer	1 Dec 2008	Other	3028989
David Roehner Odenath	Director	1 Apr 2009	Other	872856
Joel Roger Sauber	President and chief executive officer	1 May 2009	Other	3035443
Barbara Brooke Manning	Chief compliance officer	1 Sep 2010	Other	3198494
Terrence James Murphy	Chief executive officer	1 Sep 2010	Other	5007121
Terrence James Murphy	Director	1 Mar 2011	Other	5007121
Peter Hamilton Nachtwey	Director	1 Mar 2011	Other	5512176
Joseph Andrew Sullivan	Director	1 Mar 2011	Other	872969
Ronald Richard Dewhurst	Director	1 Mar 2011	Other	1590061
Cynthia Karen List	Chief financial officer	1 Dec 2011	Other	2159335
Nicole Lorraine Tarallo	Chief operating officer	1 Apr 2013	Other	2191452
Jeffrey Allen Nattans	Director	1 Aug 2013	Other	2786221

Based in New York

The principal office where Legg Mason Private Portfolio Group, LLC performs its advisory services is located at 620 8 Th Avenue, New York, NY 10018, 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 212-805-2000 or by fax 877-638-5508. The normal business hours are 9:00 am-5:00 pm on Monday - Friday.