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.