Cohen Klingenstein, LLC (New York)

Cohen Klingenstein, LLC is a large advisory firm based in New York. It manages $702.01 million of regulatory assets for 50 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Connecticut, District of Columbia, and New York.

Cohen Klingenstein 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.

Cohen Klingenstein: assets under management

The assets under management (AUM) of Cohen Klingenstein, LLC is $702.01 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 287% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $702.01 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $14.04 million each.

Cohen Klingenstein has custody of $571.56 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 85% of the total AUM. The second-largest asset type is government bonds, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cohen Klingenstein, 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 Cohen Klingenstein serves?

The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Cohen Klingenstein is pooled investment vehicles with 5 clients and $568.8 million of assets under management. Among the 11 most similar advisory firms, Cohen Klingenstein has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $691.78 million for 39 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.

Cohen Klingenstein also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $5,000,000 for each fund.

Careers at Cohen Klingenstein, LLC

The company employs 6 people that are either part- or full-time employees. 33 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
George Michael Cohen	Managing member, chief compliance officer	1 Aug 2008	50% - 75%	2317221
Thomas Davis Klingenstein	Managing member	1 Aug 2008	50% - 75%	715362

Based in New York

The principal office where Cohen Klingenstein, LLC performs its advisory services is located at 1410 Broadway, New York, NY 10018, 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 212-757-0235 or by fax 212-757-0293. The normal business hours are 9 am to 5 pm on Monday - Friday.