Cortec Group Management Services, LLC (New York)

Name: Cortec Group Management Services, LLC
Address: 140 East 45 Th Street, 43 Rd Floor, New York, NY, 10017
Telephone: 212-370-5600

Cortec Group Management Services, LLC is a large advisory firm based in New York. It manages $2.7 billion of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2012.

Cortec Group Management Services provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cortec Group Management Services: assets under management

The assets under management (AUM) of Cortec Group Management Services, LLC is $2.7 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 143% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.7 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $337.17 million each.

Cortec Group Management Services has custody of $2.06 billion in cash and securities for 8 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cortec Group Management Services, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Cortec Group Management Services serves?

The only and largest group of clients of Cortec Group Management Services is pooled investment vehicles with 8 clients and $2.7 billion of assets under management. Among the 9 most similar advisory firms, Cortec Group Management Services has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.7 billion for 8 clients. None of the firm’s clients are foreign persons or businesses.

Cortec Group Management Services also advises several private funds. Namely, eight private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $50,000,000.

Careers at Cortec Group Management Services, LLC

The company employs 18 people that are either part- or full-time employees. 94 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael E Najjar	Member	1 Jun 2004	Other	1885483
Michael Edward Najjar	Member	1 Jun 2004	Other	1885483
Richard Scott Schafler	Member	1 Nov 2010	25% - 50%	6026931
David Lawrence Schnadig	Member, chief compliance officer	1 Nov 2010	25% - 50%	2100265
Jeffrey Adam Lipsitz	Member	1 Nov 2010	25% - 50%	6026935
Michael Edward Najjar	Partner	1 Nov 2010	Other	1885483
Michael Stewart Neuberger	Chief financial officer	1 Apr 2015	Other	4898141
L.P. Cortec Group Holdings	Owner	1 Dec 2018	75% - 100%	98-1461244

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Cortec Group Feeder Lp	Owner	1 Dec 2018	75% - 100%	98-1461259
Richard Scott Schafler	Member / limited partner	1 Dec 2018	Other	6026931
David Lawrence Schnadig	Member / limited partner	1 Dec 2018	25% - 50%	2100265
Jeffrey Adam Lipsitz	Member / limited partner	1 Dec 2018	25% - 50%	6026935
Michael Edward Najjar	Member / limited partner	1 Dec 2018	Other	1885483
Cortec Group Gp Llc	Member / general partner	1 Dec 2018	Other	94-1461252

Based in New York

The principal office where Cortec Group Management Services, LLC performs its advisory services is located at 140 East 45 Th Street, 43 Rd Floor, New York, NY 10017, 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 212-370-5600 or by fax 212-682-4195. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at cortecgroup.com.