Lapides Asset Management, LLC (Greenwich)

Name: Lapides Asset Management, LLC
Address: 500 West Putnam Avenue, Greenwich, CT, 06830
Telephone: 203-422-7202

Lapides Asset Management, LLC is a large advisory firm based in Greenwich. It manages $295.52 million of regulatory assets for 17 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdiction of Connecticut.

Lapides Asset Management 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.

Lapides Asset Management: assets under management

The assets under management (AUM) of Lapides Asset Management, LLC is $295.52 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 362% since the beginning of its operation, and $120.71 million of the total AUM is attributable to clients outside of the United States.

The firm manages $295.52 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $17.38 million each.

Lapides Asset Management has custody of $133.28 million in cash and securities for 11 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 3% of the firm’s portfolio. Investments in investment grade corporate bonds form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lapides Asset Management, 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 Lapides Asset Management serves?

The only and largest group of clients of Lapides Asset Management is pooled investment vehicles with 11 clients and $136.86 million of assets under management. Among the 7 most similar advisory firms, Lapides Asset Management has the 3rd lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $136.86 million for 11 clients. 18% of the firm’s clients are foreign persons or businesses.

Lapides Asset Management also advises several private funds. Namely, nine hedge funds. The minimum investment commitment required of non-related persons ranges from $100,000 to $500,000.

Careers at Lapides Asset Management, LLC

The company employs 12 people that are either part- or full-time employees. 58 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
Steven Mark Wilson	Managing member	1 Jun 2005	50% - 75%	1567319
Anne Belinda Selkovits	Chief compliance officer	1 Dec 2005	Other	721042
Michael Spencer Reeves	Managing director, client services	1 Apr 2006	Other	2704863
James Francis Betz	Chief operating officer and chief compliance officer	1 Jul 2006	Other	1096222
Glenn Sussman	Managing director, investments	1 Jul 2006	25% - 50%	2895248
Charles Paul Dunn	Vice president, client relations	1 Sep 2009	Other	1865430
Antoinette Pellegrino Francis	Vice president of adminstration	1 Jan 2011	Other	4211929
Glenn Sussman	Income member	1 Sep 2012	25% - 50%	2895248

Based in Greenwich

The principal office where Lapides Asset Management, LLC performs its advisory services is located at 500 West Putnam Avenue, Greenwich, CT 06830, 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 203-422-7202 or by fax 203-422-7205. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at lapides-am.com.