57 Stars LLC (Washington)

57 Stars LLC is a large advisory firm based in Washington. It manages $3.43 billion of regulatory assets for 10 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of California and District of Columbia.

57 Stars provides portfolio management for pooled investment vehicles and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

57 Stars: assets under management

The assets under management (AUM) of 57 Stars LLC is $3.43 billion. The firm's AUM has grown by 1022% since the beginning of its operation, and $2.31 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $3.26 billion in discretionary accounts and $166.17 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $407.59 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $83.08 million.

57 Stars has custody of $2.46 billion in cash and securities for 10 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay 57 Stars LLC 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 57 Stars serves?

The only and largest group of clients of 57 Stars is pooled investment vehicles with 9 clients and $3.43 billion of assets under management. Among the 8 most similar advisory firms, 57 Stars has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $3.43 billion for 9 clients. 50% of the firm’s clients are foreign persons or businesses.

57 Stars also advises several private funds. Namely, ten private equity funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $200,000,000.

Careers at 57 Stars LLC

The company employs 22 people that are either part- or full-time employees. 73 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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

Indirect Owners

The SEC currently registers 2 indirect owners.

Based in Washington

The principal office where 57 Stars LLC performs its advisory services is located at 616 H. Street N.W., Washington, DC 20001, which is also the mailing address of the firm. An additional office of the firm is in Solana Beach, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 202-824-1600 or by fax 202-824-4300. The normal business hours are 9:00-6:00 on Monday - Friday. You can find more information about the New York firm at 57stars.net.

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