Foundation Asset Management, LP (White Plains)


Foundation Asset Management, LP is a large advisory firm based in White Plains. It manages $551.5 million of regulatory assets for 3 client accounts. It has been registered with the SEC as an adviser since 2015.

Foundation Asset Management provides portfolio management for pooled investment vehicles. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Foundation Asset Management: assets under management

The assets under management (AUM) of Foundation Asset Management, LP is $551.5 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -33% since the beginning of its operation, and $93.54 million of the total AUM is attributable to clients outside of the United States.

The firm manages $551.5 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $183.83 million each.
Foundation Asset Management has custody of $551.5 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Foundation Asset Management, LP 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 Foundation Asset Management serves?

The only and largest group of clients of Foundation Asset Management is pooled investment vehicles with 3 clients and $551.5 million of assets under management. Among the 11 most similar advisory firms, Foundation Asset Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $551.5 million for 3 clients. 67% of the firm’s clients are foreign persons or businesses.

Foundation Asset Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $5,000,000 for each fund.

Careers at Foundation Asset Management, LP

The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives 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 doesn’t compensate 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


Name Entity Date acquired Ownership Employer ID
David Stephen Charney Limited partner and portfolio manager of foundation asset management, lp 1 Nov 2011 25% - 50% 2377752
Sky Wilber Limited partner and portfolio manager of foundation asset management, lp 1 Nov 2011 25% - 50% 6029099
Bernard Joseph Bresnahan Limited partner, chief operating officer and chief compliance officer of foundation asset management, lp 1 Dec 2011 Other 4541820
David Stephen Charney Managing member of foundation asset management gp, llc 1 Jan 2012 25% - 50% 2377752
Bernard Joseph Bresnahan Member of foundation asset management gp, llc 1 Mar 2012 Other 4541820
Sky Wilber Managing member of foundation asset management gp, llc 1 Mar 2012 25% - 50% 6029099
David Stephen Charney Managing member of foundation asset management gp, llc 1 Mar 2012 25% - 50% 2377752
Llc Foundation Asset Management Gp Ii General partner of foundation asset management, lp 1 Jul 2014 Other 47-1294203
Wagon Wheel Investment Trust Limited partner of foundation asset management, lp 1 Jul 2014 Other xxx-xx-xxxx
Michael David Charney Trustee wagon wheel investment trust 1 Aug 2014 Other 6466175
Tanya Adele Charney Trustee wagon wheel investment trust 1 Aug 2014 Other 6466177
Frank Augustus Bosco Chief financial officer of foundation asset management, lp 1 Jan 2015 Other 5795046

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
David Stephen Charney Managing member 1 Jul 2014 25% - 50% 2377752
Sky Wilber Managing member 1 Jul 2014 25% - 50% 6029099

Based in White Plains

The principal office where Foundation Asset Management, LP performs its advisory services is located at 1 North Lexington Ave, White Plains, NY 10601, 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 914-574-2923 or by fax 914-574-2084. The normal business hours are 8:00 a.m. - 6:00 p.m. on Monday - Friday.