Tower Bridge Advisors Review:
Tower Bridge Advisors is a Conshohocken, PA-based money manager. The firm has roughly equal amounts of high-net-worth clients (those with investable assets above $1,000,000) and affluent retail clients (those with investable assets over $100,000).
It manages total assets under management (AUM) of over $1.15 billion. These funds are held in about 900 accounts for about 400 clients. The firm’s minimum account size is $500,000.
History – How Did Tower Bridge Advisors Start?
Tower Bridge was founded in 2001, by Maris Ogg and James Meyer, to provide personalized, confidential investment management services and advice to individuals, pension and profit sharing plans, trusts, estates, charitable organizations, and small businesses.
With the exception of one minority shareholder, the company is all employee-owned. The primary shareholders are Maris Ogg and James Meyer.
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What We Like About Tower Bridge Advisors:
1. Tower Bridge is fee-only: The firm only receives advisory fees, charged as a percentage of assets under management, for its services.
Tower Bridge does not share in any transactions-based compensation or receive other types of fees for rendering advice to clients.
Being fee-only allows Tower Bridge to be independent.
2. Tower Bridge is internationally recognized: The firm has been selected as one of the top 300 investment advisory firms in the U.S. by Financial Times.
4. Tower Bridge does not charge performance-based fees nor does it engage in side-by-side management. Fees are computed on total assets under management (AUM) and not on a share of capital gains or capital appreciation of a client’s assets.
Side-by-side management occurs when the same portfolio manager simultaneously makes investment decisions for a mutual fund and a hedge fund. Since hedge fund managers earn performance bonuses while mutual fund managers typically do not, there is the potential for a conflict of interest in such situations as an opportunistic manager may shift the better trades to the hedge fund.
5. Tower Bridge keeps its clients in the know: The firm publishes a blog and an investment newsletter, Market Commentary. It also prepares research reports on securities.
6. Tower Bridge is upfront about its wrap fee programs; the firm acts as a portfolio manager for two wrap-fee programs.
The two programs are JMS Adviser’s Account Program, which is sponsored by Janney Montgomery Scott, and Manager of Managers Program, sponsored by Brinker Capital.
Under these programs, the client is introduced to Tower Bridge by a program sponsor who also acts as a custodian of the funds and securities of the participating account, conducts all purchases and sales of securities for that account, monitors Tower Bridge’s performance, and provides periodic reports to the client.
The program sponsor charges the client a comprehensive fee, or wrap fee, for all of the portfolio management, brokerage execution, custodial, and administrative services rendered to the account and pays a portion of that comprehensive fee to Tower Bridge for the investment advice Tower Bridge renders.
The firm may also offer portfolio management services on a non-discretionary basis.
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Tower Bridge Advisors Fee Structure:
Asset Management Fee
On the first $5,000,000: 0.85%
On the next $5,000,000: 0.65%
Above $10,000,000: 0.45%
Tower Bridge Advisors Regulatory Assets Under Management (AUM):
Discretionary accounts: $1,127,838,378
Non-discretionary accounts: $34,671,174
Total accounts: $1,162,509,552
A discretionary account allows the investment manager to make investment decisions on a client’s behalf. A non-discretionary account requires the client’s authorization before any investment action is taken.
Tower Bridge Advisors Address Information (Local Office):
101 West Elm Street, Suite 355, Conshohocken, PA 19428-2075
To contact Tower Bridge Advisors:
Tel: 610-260-2200
Fax: 610-260-2239
Contact page: http://towerbridgeadvisors.com/contact.html
E-mail: [email protected]
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AdvisoryHQ Review Team
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