Permit Capital Advisors, LLC (West Conshohocken)

Name: Permit Capital Advisors, LLC
Address: 100 Front Street, West Conshohocken, PA, 19428
Telephone: 610-834-5870

Permit Capital Advisors, LLC is a large advisory firm based in West Conshohocken. It manages $1.11 billion of regulatory assets for 59 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdiction of Pennsylvania.

Permit Capital Advisors provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Permit Capital Advisors: assets under management

The assets under management (AUM) of Permit Capital Advisors, LLC is $1.11 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 514% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.11 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $18.85 million each.

Permit Capital Advisors has custody of $143.22 million in cash and securities for 12 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is state and local bonds, which make up 25% of the firm’s portfolio. Investments in other assets form 20% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Permit Capital Advisors, LLC for their services and products based on a percentage of assets under management, fixed fees, 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 Permit Capital Advisors serves?

The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Permit Capital Advisors is high net worth individuals with 40 clients and $579.24 million of assets under management. Among the 9 most similar advisory firms, Permit Capital Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.11 billion for 59 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.

Permit Capital Advisors also advises several private funds. Namely, twelve private equity funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $500,000.

Careers at Permit Capital Advisors, LLC

The company employs 13 people that are either part- or full-time employees. 69 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
Kimberly Michele Crowley	Chief compliance officer, member	1 Apr 2011	Other	2490792
Mimi B Drake	President, member, manager	1 Apr 2011	25% - 50%	2667357
Adam Brett Landau	Chief executive officer, member, manager	1 Apr 2011	25% - 50%	2325433
Ryan C. Mclaughlin	Vice president, member	1 Apr 2011	Other	5917784
Mimi Drake	President, member, manager	1 Apr 2011	25% - 50%	2667357
Yelena Pelimskaya	Director of research, member	1 Jan 2016	Other	6776266
Matthew Hall Taylor	Senior portfolio manager, member	1 Apr 2016	Other	2939039

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Permit Capital	Member/class p	1 May 2011	Other	138436

Based in West Conshohocken

The principal office where Permit Capital Advisors, LLC performs its advisory services is located at 100 Front Street, West Conshohocken, PA 19428, 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 610-834-5870 or by fax 610-824-5871. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at permitcapital.com.