Ritholtz Wealth Management (New York)

Name: Ritholtz Wealth Management
Address: 24 West 40 Th Street, New York, NY, 10018
Telephone: (212) 625-1200

Ritholtz Wealth Management is a large advisory firm based in New York. It manages $1 billion of regulatory assets for 2,604 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alabama, Arizona, California, and 20 other states.

Ritholtz Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and liftoff - automated advisory services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Ritholtz Wealth Management: assets under management

The assets under management (AUM) of Ritholtz Wealth Management is $1 billion. The firm's AUM has grown by 81% since the beginning of its operation, and $2.33 million of the total AUM is attributable to clients outside of the United States.

The firm manages $983.74 million in discretionary accounts and $20.24 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $385.33 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $396.92 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 76% of the total AUM. The second-largest asset type is state and local bonds, which make up 9% of the firm’s portfolio. Investments in exchange traded securities form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ritholtz Wealth Management for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Ritholtz Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Ritholtz Wealth Management is high net worth individuals with 235 clients and $719.83 million of assets under management. Among the 11 most similar advisory firms, Ritholtz Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1 billion for 894 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.

Ritholtz Wealth Management doesn't advise any private funds.

Careers at Ritholtz Wealth Management

The company employs 24 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 18 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
Barry Lawrence Ritholtz	Managing member	1 Aug 2013	50% - 75%	2723315
Joshua Morgan Brown	Managing member	1 Aug 2013	25% - 50%	2781372
Kristopher Pierre Venne	Managing member & chief compliance officer	1 Oct 2013	Other	5481478
Michael Henry Batnick	Managing member	1 Oct 2013	Other	5753350
Benjamin Carlson	Managing member	1 Apr 2019	Other	7115957
William A. Sweet	Managing member	1 Apr 2019	Other	5420425
Joel Craig Fishman	Managing member	1 Apr 2019	Other	5852876
Dinamarie Rose Isola	Managing member	1 Apr 2019	Other	1706064
Erika Christine Mauro	Managing member	1 Apr 2019	Other	2350325

Based in New York

The principal office where Ritholtz Wealth Management performs its advisory services is located at 24 West 40 Th Street, New York, NY 10018, which is also the mailing address of the firm. An additional office of the firm is in Portland, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (212) 625-1200. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at ritholtzwealth.com and its LinkedIn profile.