Hpm Partners LLC (New York)

Name: Hpm Partners LLC
Address: 335 Madison Avenue, New York, NY, 10017
Telephone: 212-850-4260

Hpm Partners LLC is a large advisory firm based in New York. It manages $7.43 billion of regulatory assets for 1,439 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Colorado, and 26 other states.

Hpm Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and tax services; bill pay. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Hpm Partners: assets under management

The assets under management (AUM) of Hpm Partners LLC is $7.43 billion. The firm's AUM has grown by 12548% since the beginning of its operation, and $770.7 million of the total AUM is attributable to clients outside of the United States.

The firm manages $5.9 billion in discretionary accounts and $1.54 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4.45 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $13.6 million.

Hpm Partners has custody of $1.82 billion in cash and securities for 526 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 40% of the total AUM. The second-largest asset type is investment and business development companies, which make up 28% of the firm’s portfolio. Investments in state and local bonds form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hpm Partners LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, 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 Kurt Patrick Miscinski 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 Kurt Patrick Miscinski is high net worth individuals with 798 clients and $5.94 billion of assets under management. Among the 11 most similar advisory firms, Hpm Partners has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.43 billion for 1,439 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Hpm Partners doesn't advise any private funds.

Careers at Hpm Partners LLC

The company employs 100 people that are either part- or full-time employees. 53 percent of the employees work as investment advisers or researchers. 29 employees are registered as investment adviser representatives with the state securities authorities.

There are 13 people 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.

Kurt Patrick Miscinski has been acting as President since 1 Dec 2009. Douglas Carl Nardi has served as the Chief Investment Officer since 1 Apr 2010. Cerity Partners Equity Holding Llc joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Irvin Alan Leonard	President/ceo	1 Aug 2009	Other	5719461
Ramona Fern Spencer	Chief compliance officer	1 Aug 2009	Other	5719473
Kurt Patrick Miscinski	Chief operating officer	1 Aug 2009	Other	2694200
Irvin Alan Leonard	Managing partner	1 Dec 2009	Other	5719461
Kurt Patrick Miscinski	President	1 Dec 2009	Other	2694200
Emigrant Bank	Managing member	1 Dec 2009	75% - 100%	13-5052245
Lorraine Frieda George Harik	Chief marketing officer	1 Dec 2009	Other	2836469
Irvin Alan Leonard	Managing partner	1 Mar 2010	Other	5719461
Douglas Carl Nardi	Chief investment officer	1 Apr 2010	Other	1511007
Anthony David Decello	Chief planning officer	1 Apr 2010	Other	4374741
Robert Joseph Seco	Chief compliance officer	1 Oct 2010	Other	5637325
Lawrence Eric Sussman	Director of finance and operations	1 Oct 2010	Other	2835591
Lorraine Frieda George Harik	Chief marketing officer	1 Jan 2012	Other	2836469
Benjamin A Pace	Chief investment officer	1 Oct 2014	Other	5283727
Maria Alexandra Hodi	Chief administrative officer	1 Jan 2017	Other	4796907
Llc Hpmp Eoe	Member	1 Dec 2017	25% - 50%	82-3423803
Llc Hpm Partners Holdings	Member	1 Dec 2017	50% - 75%	82-3744081
Kevin Hilden	Chief operating officer	1 May 2018	Other	5037052
Cerity Partners Equity Holding Llc	Member	1 Sep 2018	75% - 100%	83-1643668

Indirect Owners

The SEC currently registers 14 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Irma Milstein	Trustee	1 Mar 1998	Other	5583589
Paul Milstein	Trustee	1 Mar 1998	Other	5583579
New York Private Bank And Trust Corporation	Parent corporation	1 Dec 2003	75% - 100%	20-0136064
Emigrant Bancorp	Parent corporation	1 Dec 2003	75% - 100%	13-3780951
Emigrant Bank Corp.	Parent corporation	1 Dec 2003	75% - 100%	13-3780951
Paul Milstein 1998 Revocable Trust	Grantor trust	1 Feb 2004	75% - 100%	4759415
Howard P. Milstein	Trustee	1 Feb 2004	Other	4759415
Kurt Patrick Miscinski	Manager	1 Nov 2017	Other	2694200
L.P. Lightyear Fund Iv Aiv 1	Member	1 Dec 2017	75% - 100%	82-3538903
Llc Ly/Hpm	Limited partner	1 Jan 2018	25% - 50%	82-3553633
L.P. Ly Iv Aiv 1 Holding	Member	1 Jan 2018	75% - 100%	82-3568336
2297984 Ontario Limited	Limited partner	1 Jan 2018	25% - 50%	98-1016734
Llc Hpm Partners Holdings	Member	1 Sep 2018	50% - 75%	82-3744081
Cerity Partners Eoe Llc	Member	1 Sep 2018	25% - 50%	82-3423803

Based in New York

The principal office where Hpm Partners LLC performs its advisory services is located at 335 Madison Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-850-4260 or by fax 212-937-1942. The normal business hours are 9am to 5 pm on Monday - Friday. You can find more information about the New York firm at hpmpartners.com and its LinkedIn profile.