Garnet Group LLC (Bethesda)

Name: Garnet Group LLC
Address: 6701 Democracy Boulevard, Bethesda, MD, 20817
Telephone: 301-564-3000

Garnet Group LLC is a large advisory firm based in Bethesda. It manages $107.76 million of regulatory assets for 178 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Illinois, Maryland, and Virginia.

Garnet Group provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Garnet Group: assets under management

The assets under management (AUM) of Garnet Group LLC is $107.76 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -13% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $107.76 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $605.39 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is investment and business development companies, which make up 31% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Garnet Group LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Garnet Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Garnet Group is high net worth individuals with 31 clients and $104.14 million of assets under management. Among the 9 most similar advisory firms, Garnet Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $107.58 million for 36 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.

Garnet Group doesn't advise any private funds.

Careers at Garnet Group LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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
Veena Acharya Kutler	Managing member	1 Jul 2006	50% - 75%	2414173
Annette Florence Simon	Managing member and chief compliance officer	1 Jul 2006	50% - 75%	4519026
Tanya Elizabeth Rapacz	Managing member and chief compliance officer	1 Jul 2006	25% - 50%	4795967
Lisette Chassey Smith	Managing member	1 Jul 2006	25% - 50%	1665492

Based in Bethesda

The principal office where Garnet Group LLC performs its advisory services is located at 6701 Democracy Boulevard, Bethesda, MD 20817, which is also the mailing address of the firm. An additional office of the firm is in Chevy Chase, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 301-564-3000 or by fax 240-220-4768. The normal business hours are via appointment on Monday - Friday. You can find more information about the New York firm at garnetgroup.com.