Tolleson Private Wealth Management, LP (Dallas)
Tolleson Private Wealth Management, LP is a large advisory firm based in Dallas. It manages $5.56 billion of regulatory assets for 3,217 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, California, Colorado, and 4 other states.
Tolleson Private Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, selection of other advisers, and investment due diligence and monitoring. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
Tolleson Private Wealth Management: assets under management
The assets under management (AUM) of Tolleson Private Wealth Management, LP is $5.56 billion. The firm's AUM has grown by 525% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
Investments
The firm invests in state and local bonds the most. They account for 45% of the total AUM. The second-largest asset type is exchange traded securities, which make up 18% of the firm’s portfolio. Investments in investment and business development companies form 17% of the total invested assets.Fees & Commissions
The advisory firm has several streams of revenue. Clients pay Tolleson Private Wealth Management, LP for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 John Carter Tolleson serves?
The firm provides services to charitable organizations, high net worth individuals, pooled investment vehicles, and banking or thrift institutions. The largest group of clients of John Carter Tolleson is pooled investment vehicles with 16 clients and $3.36 billion of assets under management. Among the 4 most similar advisory firms, Tolleson Private Wealth Management has the 2nd highest percentage of pooled investment vehicles out of all clients.
The amount of regulatory assets under management is $5.56 billion for 179 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Tolleson Private Wealth Management also advises several private funds. Namely, three hedge funds, two other private funds, and twelve private equity funds. The minimum investment commitment required of non-related persons ranges from $50,000 to $250,000.
Careers at Tolleson Private Wealth Management, LP
The company employs 83 people that are either part- or full-time employees. 70 percent of the employees work as investment advisers or researchers. 24 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.
John Carter Tolleson has been acting as President since 1 Apr 2000. Philip James Durst has served as the Chief Investment Officer since 1 Mar 2013 and John Carter Tolleson Jr. is the Chief Executive Officer of Tolleson Private Wealth Management, LP family office. Eric Wayne Bennett joined the executive team most recently as the Chief Investment Officer.
Direct owners and executive officers
Indirect Owners
The SEC currently registers 2 indirect owners.Based in Dallas
The principal office where Tolleson Private Wealth Management, LP performs its advisory services is located at 5500 Preston Road Ste 250, Dallas, TX 75205, 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 214-252-3250 or by fax 214-252-3261. The normal business hours are 8:30 a.m. - 5:30 p.m. on Monday - Friday. You can find more information about the New York firm at tollesonwealth.com.
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