Riverfront Investment Group, LLC (Richmond)

Name: Riverfront Investment Group, LLC
Address: 1214 East Cary Street, Richmond, VA, 23219
Telephone: 804-549-4800

Riverfront Investment Group, LLC is a large advisory firm based in Richmond. It manages $3.28 billion of regulatory assets for 5,597 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 46 other states.

Riverfront Investment Group provides portfolio management for individuals and small businesses, portfolio management for investment companies, and provide investment models to uma and model delivery platforms. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Riverfront Investment Group: assets under management

The assets under management (AUM) of Riverfront Investment Group, LLC is $3.28 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 4553% since the beginning of its operation, and $9.21 million of the total AUM is attributable to clients outside of the United States.

The firm manages $3.28 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $585.22 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 94% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 6% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Riverfront Investment Group, LLC 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 Riverfront Investment Group serves?

The firm provides services to individuals, investment companies, charitable organizations, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Riverfront Investment Group is individuals with 4,512 clients and $1.59 billion of assets under management. Among the 11 most similar advisory firms, Riverfront Investment Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.74 billion for 4,651 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.

Riverfront Investment Group doesn't advise any private funds.

Careers at Riverfront Investment Group, LLC

The company employs 50 people that are either part- or full-time employees. 34 percent of the employees work as investment advisers or researchers. 36 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Paul Michael Jones has served as the Chief Investment Officer since 1 Mar 2008. Roderick Arthur Smyth joined the executive team most recently as the Chairman Of The Board Of Directors/Director Of Investments.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Peter John Quinn	Managing member/chief compliance officer	1 Dec 2007	75% - 100%	1217067
Peter John Quinn	Member of the board of directors, president & chief operating officer	1 Mar 2008	Other	1217067
Douglas Alan Sandler	Member of the board of directors/chief equity officer	1 Mar 2008	Other	2254668
Paul Michael Jones	Chairman of the board of directors/chief investment officer	1 Mar 2008	Other	2147172
Roderick Arthur Smyth	Member of the board of directors/chief investment strategist	1 Mar 2008	Other	1236843
Paul Edward Purcell	Member of the board of directors	1 Mar 2008	Other	844873
Michael John Schroeder	Member of the board of directors	1 Mar 2008	Other	1483012
Llc Riverfront Investment Holding Group	Member	1 Mar 2008	75% - 100%	26-2300654
Louis William Moelchert	Member of the board of managers	1 Mar 2008	Other	1965033
Paul Edward Purcell	Member of the board of managers	1 Apr 2008	Other	844873
Llc Riverfront Investment Holding Group	Member	1 Apr 2008	75% - 100%	26-2300654
Wendy Lee Smailes	Chief compliance officer	1 Sep 2008	Other	2440119
Karrie Burnham Southall	Chief compliance officer/member of the executive committee	1 Mar 2013	Other	3082873
Julia Jones Gibbs	Chief compliance officer	1 May 2017	Other	4605599
Roderick Arthur Smyth	Chairman of the board of directors/director of investments	1 Apr 2019	Other	1236843

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Baird Holding Company	Shareholder	1 May 2001	75% - 100%	39-2027336
Baird Financial Corporation	Managing member	1 Mar 2008	25% - 50%	39-1289533
Baird Financial Corporation	Managing member	1 Apr 2008	25% - 50%	39-1289533

Based in Richmond

The principal office where Riverfront Investment Group, LLC performs its advisory services is located at 1214 East Cary Street, Richmond, VA 23219, 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 804-549-4800 or by fax 804-549-4819. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at riverfrontig.com.