Cushing Asset Management, LP (Dallas)

Name: Cushing Asset Management, LP
Address: 300 Crescent Court, Dallas, TX, 75201
Telephone: 214-692-6334

Cushing Asset Management, LP is a large advisory firm based in Dallas. It manages $2.74 billion of regulatory assets for 100 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Massachusetts, New York, and Texas.

Cushing Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, 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.

Cushing Asset Management: assets under management

The assets under management (AUM) of Cushing Asset Management, LP is $2.74 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -22% since the beginning of its operation, and $205.74 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.74 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $27.42 million each.

Investments

The firm invests in exchange traded securities the most. They account for 80% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 17% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

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

The firm provides services to investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Cushing Asset Management is investment companies with 10 clients and $1.61 billion of assets under management. Among the 8 most similar advisory firms, Cushing Asset Management has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $2.74 billion for 100 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 8% of the firm’s clients are foreign persons or businesses.

Cushing Asset Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Cushing Asset Management, LP

The company employs 33 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jerry Vane Swank	Limited partner	1 Oct 2003	75% - 100%	710393
Llc Swank Capital	General partner	1 Oct 2003	Other	75-2868777
Elizabeth French Toudouze	Limited partner	1 Jan 2008	Other	1351600
Daniel Leonard Spears	Limited partner	1 Jan 2008	Other	2508336
John Howard Alban	Chief operating officer and chief financial officer	1 Nov 2010	Other	1401906
Barry Y. Greenberg	Chief compliance officer	1 Nov 2010	Other	5863733
Kevin Patrick Gallagher	Limited partner	1 Dec 2011	Other	4178838
Matthew David Wenk	Chief financial officer	1 Jan 2017	Other	6930721

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Jerry Vane Swank	Managing member	1 May 2002	75% - 100%	710393

Based in Dallas

The principal office where Cushing Asset Management, LP performs its advisory services is located at 300 Crescent Court, Dallas, TX 75201, which is also the mailing address of the firm. An additional office of the firm is in Hanover, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 214-692-6334 or by fax 214-219-2353. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at swankcapital.com.