Letko, Brosseau & Associates Inc. (Montreal, Quebec)

Name: Letko, Brosseau & Associates Inc.
Address: 1800 Mcgill College Avenue, Suite 2510, Montreal, Quebec, H3 A 3 J6
Telephone: 1-800-307-8557

Letko, Brosseau & Associates Inc. is a large advisory firm based in Montreal, Quebec. It manages $22.92 billion of regulatory assets for 2,653 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Florida and Massachusetts.

Letko, Brosseau & Associates provides portfolio management for individuals and small businesses, 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.

Letko, Brosseau & Associates: assets under management

The assets under management (AUM) of Letko, Brosseau & Associates Inc. is $22.92 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 10% since the beginning of its operation, and $22.79 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $22.92 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8.64 million each.

Letko, Brosseau & Associates has custody of $109.7 million in cash and securities for 38 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 71% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 16% of the firm’s portfolio. Investments in sovereign bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Letko, Brosseau & Associates Inc. for their services and products based on a percentage of assets under management. 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 Robert Marien serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Robert Marien is pension and profit sharing plans with 242 clients and $13.2 billion of assets under management. Among the 10 most similar advisory firms, Letko, Brosseau & Associates has the 2nd highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $22.92 billion for 2,653 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 98% of the firm’s clients are foreign persons or businesses.

Letko, Brosseau & Associates also advises several private funds. Namely, four other private funds.

Careers at Letko, Brosseau & Associates Inc.

The company employs 59 people that are either part- or full-time employees. 64 percent of the employees work as investment advisers or researchers. No 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.

Robert Marien has been acting as President since 1 May 2017. Isabelle Godin joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Brosseau	Executive officer	1 Jul 1987	Other	4909024
Peter Letko	Executive officer	1 Jul 1987	Other	4909030
Daniel Brosseau	Executive officer and chief compliance officer	1 Sep 1987	Other	4909024
Peter Letko	Executive officer	1 Sep 1987	Other	4909030
Candor Investments Ltd	Common shareholder	1 Mar 1996	Other	n/a
Belkorp Industries Inc.	Common shareholder	1 Jan 2007	Other	n/a
4554361 Canada Inc.	Common shareholder	1 Mar 2010	25% - 50%	n/a
4554353 Canada Inc.	Common shareholder	1 Mar 2010	25% - 50%	n/a
Thomas Massey Birks	Chairman of the board of directors	1 May 2017	Other	6840612
Robert Marien	Director	1 May 2017	Other	6840615
Jean André élie	Director	1 May 2017	Other	6840616
Isabelle Godin	Chief compliance officer	1 Oct 2017	Other	6890684

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
William W. Siebens	Common shareholder	1 Mar 1996	50% - 75%	6735377
The Morris Belkin Family Trust	Common shareholder	1 Jan 2007	75% - 100%	n/a
A. Stuart Belkin	Trustee	1 Jan 2007	25% - 50%	6736256
Donald Jewell	Trustee	1 Jan 2007	25% - 50%	6736261
C.R. Laurence Peers	Trustee	1 Jan 2007	25% - 50%	6736263
Belkin Enterprises Ltd	Common shareholder	1 Jan 2007	75% - 100%	n/a
Daniel Brosseau	Common shareholder	1 Mar 2010	75% - 100%	4909024
Peter Letko	Common shareholder	1 Mar 2010	75% - 100%	4909030

Based in Montreal, Quebec

The principal office where Letko, Brosseau & Associates Inc. performs its advisory services is located at 1800 Mcgill College Avenue, Suite 2510, Montreal, Quebec, H3 A 3 J6, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 1-800-307-8557 or by fax 514-499-0361. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at lba.ca and its LinkedIn profile.