Cowen Prime Services LLC (New York)


Cowen Prime Services LLC is a large advisory firm based in New York. It manages $255.44 million of regulatory assets for 263 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, California, Colorado, and 29 other states.

Cowen Prime Services provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm also engages as commodity futures introducing broker.

Cowen Prime Services: assets under management

The assets under management (AUM) of Cowen Prime Services LLC is $255.44 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $255.44 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $971.24 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 20% of the firm’s portfolio. Investments in government bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cowen Prime Services LLC for their services and products based on a percentage of assets under management and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Cowen Prime Services serves?

The only and largest group of clients of Cowen Prime Services is high net worth individuals with 62 clients and $255.44 million of assets under management. Among the 7 most similar advisory firms, Cowen Prime Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $255.44 million for 62 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.

Cowen Prime Services doesn't advise any private funds.

Careers at Cowen Prime Services LLC

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 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
Ralph Edward Poppell Chief compliance officer 1 Mar 2010 Other 1683087
John Holmes Coo 1 Sep 2015 Other 1281617
James R Simmons Cfo, finop 1 Sep 2015 Other 1327561
Daniel S Charney Ceo 1 Sep 2015 Other 2158255
Cowen Pb Holdings Llc Direct parent 1 Sep 2015 75% - 100% 27-0450916
James Robert Simmons Cfo, finop 1 Sep 2015 Other 1327561
Francis Jordan Principal financial officer 1 Mar 2019 Other 5634167

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Cowen Group Inc. Ultimate parent 1 Sep 2015 75% - 100% 27-0423711
Cowen Inc. Ultimate parent 1 Sep 2015 75% - 100% 27-0423711

Based in New York

The principal office where Cowen Prime Services LLC performs its advisory services is located at 599 Lexington Avenue, New York, NY 10022, 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 646-562-1010 or by fax 212-702-7159. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at cowenprime.com.