R H Bluestein & Co (Birmingham)

Name: R H Bluestein & Co
Address: 260 East Brown Street, Birmingham, MI, 48009
Telephone: 248-646-4000

R H Bluestein & Co is a large advisory firm based in Birmingham. It manages $2.9 billion of regulatory assets for 1,363 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Arizona, California, and 21 other states.

R H Bluestein & provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and see schedule d. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

R H Bluestein &: assets under management

The assets under management (AUM) of R H Bluestein & Co is $2.9 billion. The firm's AUM has grown by 3% since the beginning of its operation, and $867 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $2.81 billion in discretionary accounts and $85.59 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.18 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.21 million.

R H Bluestein & has custody of $2.18 billion in cash and securities for 851 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 48% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 17% of the firm’s portfolio. Investments in investment grade corporate bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay R H Bluestein & Co 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 Robert Harry Bluestein serves?

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 Robert Harry Bluestein is high net worth individuals with 845 clients and $2.59 billion of assets under management. Among the 10 most similar advisory firms, R H Bluestein & has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.88 billion for 971 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

R H Bluestein & also advises several private funds. Namely, three hedge funds and two private equity funds. The minimum investment commitment required of non-related persons ranges from $5,000 to $500,000.

Careers at R H Bluestein & Co

The company employs 27 people that are either part- or full-time employees. 37 percent of the employees work as investment advisers or researchers. 8 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.

Robert Harry Bluestein has been acting as President since 1 Feb 1991. Michele Marion Payment joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Harry Bluestein	President	1 Feb 1991	50% - 75%	24096
Ted N Haddad	Managing director	1 Feb 1991	Other	1067763
Ted N Haddad	Shareholder	1 Dec 2003	Other	1067763
Jeffrey Neil Bluestein	Chief compliance officer	1 Oct 2004	Other	4116633
Jeffrey Neil Bluestein	Senior managing director and chief compliance officer	1 Jan 2008	Other	4116633
Suzanne Bluestein	Trustee	1 Dec 2012	Other	6179376
Irrevocable Stock Trust For Jeffrey N. Bluestein Uad 12 31 12	Shareholder (class b stock)	1 Dec 2012	25% - 50%	46-6530051
Michele Marion Payment	Chief financial officer	1 Jan 2014	Other	6469654
Michele Marion Payment	Chief compliance officer	1 Mar 2016	Other	6469654

Based in Birmingham

The principal office where R H Bluestein & Co performs its advisory services is located at 260 East Brown Street, Birmingham, MI 48009, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 248-646-4000 or by fax 248-646-9866. The normal business hours are 8:30am - 6:00pm on Monday - Friday. You can find more information about the New York firm at rhbco.com.