Smith Asset Management Group LP (Dallas)

Smith Asset Management Group provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, 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 doesn't engage in other business activities.

Smith Asset Management Group: assets under management

The assets under management (AUM) of Smith Asset Management Group LP is $3.12 billion. The firm's AUM has grown by 256% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $3.02 billion in discretionary accounts and $99.77 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $15.96 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $197.95 thousand.

Smith Asset Management Group has custody of $21.57 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Smith Asset Management Group LP for their services and products based on a percentage of assets under management and performance-based 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 Smith Asset Management Group serves?

The firm provides services to investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Smith Asset Management Group is investment companies with 10 clients and $1.49 billion of assets under management. Among the 10 most similar advisory firms, Smith Asset Management Group has the 2nd highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $3.12 billion for 693 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.

Smith Asset Management Group also advises several private funds. Namely, one hedge fund and one other private fund. The minimum investment commitment required of non-related persons ranges from $250,000 to $1,000,000.

Careers at Smith Asset Management Group LP

The company employs 20 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. 11 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 compensates 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

Indirect Owners

The SEC currently registers 20 indirect owners.

Based in Dallas

The principal office where Smith Asset Management Group LP performs its advisory services is located at 100 Crescent Court, Dallas, TX 75201, 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 214-880-4600 or by fax 214-880-4640. The normal business hours are 8am-5pm cst on Monday - Friday. You can find more information about the New York firm at smithasset.com.

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