Editorial Note: The content of this article is based on the author’s opinions and recommendations alone and is not intended to be a source of investment advice. It may not have not been reviewed, commissioned or otherwise endorsed by any of our network partners or the Investment company.
Updated on Thursday, December 5, 2019
With 115 employees across offices in New York, San Francisco and Chicago, BBR Partners works with extremely wealthy families and individuals — the minimum investment with the firm is generally $20 million. BBR partners currently manages nearly $16 billion for around 1,200 clients, working with them to create and execute a portfolio strategy with an emphasis on tax efficiency using third-party managers. BBR Partners also consolidates record keeping for its clients, allowing them to see the performance of their entire portfolio at a glance.
All information included in this profile is accurate as of November 26th, 2019. For more information, please consult BBR Partners website.
|Assets under management: $15,886,200,000|
|Minimum investment: $20 million|
|Fee structure: Percentage of assets under management, performance-based fees|
|Headquarters:||140 East 45th Street
New York, N.Y. 10017
Overview of BBR Partners
Founded in 1999, BBR Partners is a privately held multifamily office principally owned by Brett Barth and Evan Roth. The firm also has 17 equity partners. Co-founders Mike Anson and Todd Whitenack serve as BBR Partners’ chief compliance officer, and head of investment research, respectively.
BBR Partners has 115 employees across offices in New York, Chicago and San Francisco, 75 of whom perform investment advisory functions. The firm’s 17 partners have diverse backgrounds, including several lawyers, accountants and MBAs. Rather than directly managing client money, BBR works with third-party investment managers throughout the industry.
What types of clients does BBR Partners serve?
With a minimum account balance generally set at $20 million, BBR Partners focuses primarily on serving ultra-high net worth families and individuals, but it also works with their associated family partnerships, foundations and charitable organizations. The firm serves entrepreneurs, Fortune 500 and finance executives, and those with inherited wealth.
Services offered by BBR Partners
BBR Partners works with wealthy individuals and families to develop an asset allocation strategy based their investment objectives, selecting and hiring managers to put the tailored strategy to work. While asset allocation remains the firm’s primary focus, it may also offer guidance on other issues, including estate and tax planning, charitable planning and insurance planning.
The firm also offers comprehensive reporting services, allowing clients to see their entire financial picture, including assets under management by other firms.
- Investment advisory services
- Financial planning
- retirement planning
- trust and estate planning
- charitable planning
- education planning
- tax planning and management
- IRA and 401(k) rollovers
- Insurance/risk management
- Comprehensive reporting services
- Collaboration with clients’ lawyers, accountants, etc.
- Miscellaneous services, such as helping wealthy families vet their employees or connect with labor lawyers
How BBR Partners invests your money
BBR Partners crafts individual portfolios for each of its family clients with a variety of asset classes and strategies. Based on that family’s objectives, the portfolio will include a mix of individual equity and fixed-income investments, third-party managers, exchange-traded funds, exchange-traded notes and private investment funds. The same applies to individuals.
The firm uses a mix of passive and active strategies, as well as illiquid investments, with a focus on the after-tax returns of the total portfolio. It also offers socially responsible and values-based investing options to interested families.
Fees BBR Partners charges for its services
BBR Partners charges investment advisory fees that are based on a percentage of assets under management, with a minimum annual fee of $150,000:
|Investment value of portfolio||Fee (% of assets)|
|First $30 million||0.75%|
|More than $30 million — $150 million||0.50%|
|More than $150 million||negotiable|
Clients who invest in BBR-administered private investment vehicles pay an additional fee, ranging from 0.35% to 1.00%, on the balance of their investment in that fund. They also pay additional fees to any third-party managers, broker-dealers or custodians who manage their money.
BBR Partners highlights
- One of the largest RIA firms (by asset size) in the Northeast, BBR Partners, consistently ranks among the top 10 firms on Barron’s list of top RIA firms.
- BBR Partners acts as a “manager of managers,” which means it selects other firms to make investments for its clients. This way BBR can offer a greater diversity of investment options while reducing the potential for conflicts of interest.
- Turnover at BBR Partners is low — none at the partner level in its 20-year history.
- BBR Partners does not have any disciplinary disclosures (see below).
BBR Partners downsides
- BBR Partners has a minimum account balance of $20 million, which is beyond the reach of many if not most would-be investors.
- The firm’s fees, as a percentage of assets under management, are lower than the industry average, but with a required minimum balance of $20 million, they amount to $150,000 per year or more.
- The firm has a tiered fee schedule, so clients with fewer assets pay higher fees than they might at a firm with a different fee structure.
BBR Partners disciplinary disclosures
BBR Partners currently lists zero disciplinary disclosures. The SEC requires RIAs to report disciplinary disclosures on Form ADV. These include any regulatory actions, criminal charges, or legal developments like liens or civil judgments that have been taken against them.
BBR Partners onboarding process
BBR Partners meets with the family members of each of its clients to learn more about their goals for their portfolio. Based on these meetings, the firm creates and executes a customized, tax-efficient investment plan, working with multiple managers on behalf of its clients. In addition, depending on the needs of the family, the firm offers advice around tax and insurance planning, family education and charitable giving.
In addition to monthly statements, clients have access to a secure website, updated daily, where they can view their entire portfolio — including assets that aren’t managed by BBR Partners — at a glance.
The bottom line: Is BBR Partners right for you?
This firm focuses exclusively on high net worth families and individuals, including those managing the transition of wealth from one generation to the next. It provides personalized investment advice to those families and oversees the investment of their assets with third-party firms. Individuals whose family net worth is less than the $20 million minimum requirement need to look elsewhere.