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Updated on Friday, April 30, 2021
BBR Partners works mainly with wealthy families and individuals — the minimum investment to work with the firm is generally $20 million. As one of the largest RIA firms by asset size based in the Northeast, BBR Partners manages almost $18 billion for over 1,400 clients. The firm, which has a team of approximately 70 investment advisors on staff, works to execute a portfolio strategy with an emphasis on tax efficiency using third-party managers.
The bottom line: BBR Partners caters to very wealthy families and individuals, and focuses on creating customized, tax-efficient portfolio strategies.
- Works primarily with ultra-high net worth individuals.
- Executes a portfolio strategy with an emphasis on tax efficiency.
- Uses third-party managers to offer diverse investments while minimizing conflicts of interest.
|Assets under management: $17,886,900,000|
|Minimum investment: $20 million|
|Individual investor to advisor ratio: 19:1|
|Fee structure: A percentage of the market value of assets under management|
|Headquarters: 55 East 52nd Street, 18th Floor|
New York, New York 10055
All information included in this profile is accurate as of March 26, 2021. For more information, please consult BBR Partners’ website.
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Overview of BBR Partners
Founded in 2000 and headquartered in New York, BBR Partners is a privately held multifamily office that focuses on portfolio management for ultra-high net worth clients.
BBR Partners has approximately 125 employees across all of its offices, around 70 of whom perform investment advisory functions. The firm’s partners have diverse backgrounds, including lawyers, accountants and MBAs. Rather than directly managing client money, BBR works with third-party investment managers throughout the industry.
A look at the founders of BBR Partners
BBR Partners was founded by three ex-Goldmans Sachs executives: Brett Barth, Arthur Black and Evan Roth, along with founding principals Michael Anson and Tood Whitenack. Barth and Roth are managing partners of the firm, and, as of 2021, there are 21 equity partners in BBR Partners Holdings, LP.
BBR Partners’ pros
- Investing approach offers greater diversity of options: BBR Partners acts as a “manager of managers,” which means it selects other firms to make investments for its clients. This way, BBR Partners can offer a greater diversity of investment options while reducing the potential for conflicts of interest.
- Comparatively low fees: The firm’s fees are on the relatively low end of the spectrum, with rates ranging from 0.50% to 0.75% of assets under management. For comparison, MagnifyMoney reported in 2020 that the average annual fee among investment advisory firms ranges from 0.50% to 1.25% of assets under management.
- Clean disciplinary record: BBR Partners does not have any disciplinary disclosures. Learn more about this below.
- Award-winning firm: One of the largest RIA firms by asset size based in the Northeast, BBR Partners consistently ranks among the top 15 on Barron’s list of the top RIA firms.
BBR Partners’ cons
- High minimum: BBR Partners has a minimum account balance requirement of $20 million, which is beyond the reach of most investors.
- Potential conflicts of interest related to BBR funds: There are potential conflicts of interest when it comes to clients investing in BBR funds, as the funds charge fees that are paid to BBR Partners and its affiliates. However, the firm works to mitigate this by disclosing all costs to investors, and there is no client obligation to purchase a BBR fund.
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. It also works with the associated entities of these individuals, such as:
In some cases, BBR Partners might waive its asset minimum requirement, for factors including a client’s anticipated future earning capacity or assets. The firm currently has a small number of non-high net worth individuals who are clients.
Services offered by BBR Partners
BBR Partners works with wealthy individuals and families to develop an asset allocation strategy based on 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. Services offered by the BBR Partners include:
- Portfolio management for individuals and small businesses
- 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.
- Guidance on art, aviation, real estate and other special interests
How BBR Partners invests your money
BBR Partners crafts individual portfolios for each of its family and individual clients with a variety of asset classes and strategies. 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.
BBR Partners generally invests client assets into investments including:
- Individual equity and fixed-income investments
- Exchange-traded equity securities (mutual funds, exchange-traded funds, exchange-traded notes)
- Non-exchange-traded securities
- Government bonds
- U.S. state and local bonds
- Corporate bonds
- Securities Registered Investment Companies
- Securities issues by pooled investment vehicles
- Cash and cash equivalents
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. The firm notes that rates may vary based on asset size, and the nature and complexity of each client’s particular needs, but in general the following fee schedule applies to its investment advisory services:
|Fee Schedule for BBR Partners Portfolio Management Services|
|Market value of portfolio||Percent of assets|
|First $30 million||0.75%|
|Over $30 million||0.50%|
|Additional amounts over $150 million||Negotiable|
Clients who invest in BBR-administered private investment vehicles also pay administration fees, which range from 0.50% to 0.85% on the balance of their investment in that fund. Clients may also pay additional fees to any third-party managers, broker-dealers or custodians who manage their money. BBR receives no portion of those fees.
BBR Partners disciplinary disclosures
BBR Partners currently reports no disciplinary disclosures. The SEC requires all registered investment advisory firms to report any disciplinary disclosures on their Form ADV that may be relevant to a client’s evaluation of the firm or its management team. This includes any regulatory actions, criminal charges or legal developments like liens or civil judgments that have been taken against them. For more information, visit the firm’s IAPD page.
BBR Partners onboarding process
If you’re interested in working with BBR Partners, you can either contact the firm through email or call one of its local office locations. From there, you can expect to:
- Meet with BBR Partners to learn more about their goals for your portfolio.
- Decide whether to work together based on these meetings.
- Have a customized, tax-efficient investment plan created and executed on your behalf.
In addition to monthly statements, onboarded 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.
Where BBR Partners is located
BBR Partners has offices in the following locations:
- New York City
- San Francisco
- Charlestown, Massachusetts
Is BBR Partners right for you?
BBR Partners typically focuses exclusively on ultra-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 may be able to work with BBR under special circumstances, but typically will need to look elsewhere. If you are an ultra-high-net-worth family or individual, BBR Partners and its customized investment strategy, as well as its financial planning services, may be the right choice for you. If not, you can go use our tool to to search for other potential financial advisors that may work for you.