Palisades Hudson Asset Management, L.P. is a large advisory firm based in Fort Lauderdale. It manages $1.3 billion of regulatory assets for 158 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Connecticut, Florida, Georgia, and 6 other states.
Palisades Hudson Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Palisades Hudson Asset Management, L.P. is $1.3 billion. The firm's AUM has grown by 125% since the beginning of its operation, and $30.38 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Palisades Hudson Asset Management, L.P. for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Palisades Hudson Asset Management is high net worth individuals with 90 clients and $871.49 million of assets under management. Among the 7 most similar advisory firms, Palisades Hudson Asset Management has the 4th highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $1.3 billion for 141 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.
Palisades Hudson Asset Management also advises several private funds. Namely, six private equity funds. The minimum investment commitment required of non-related persons ranges from $25,000 to $250,000.
The company employs 17 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.
There are 6 people 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.
Paul Benjamin Jacobs has served as the Chief Investment Officer since 1 Jul 2012. Eric Meermann joined the executive team most recently as the Vice President.
The principal office where Palisades Hudson Asset Management, L.P. performs its advisory services is located at 200 Sw First Avenue, Fort Lauderdale, FL 33301, which is also the mailing address of the firm. An additional office of the firm is in Atlanta, GA. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 954-524-5552 or by fax 914-723-5139. The normal business hours are 9:00am to 5:30pm on Monday - Friday. You can find more information about the New York firm at palisadeshudson.com.