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BBR Partners works mainly with wealthy families and individuals — the minimum investment to work with the firm is generally $30 million. As one of the largest registered investment advisor (RIA) firms by asset size based in the Northeast, BBR Partners manages over $20.7 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.
| Assets under management: $20,707,900,000 | |
| Minimum investment: $30 million | |
| Individual investor to advisor ratio: 20:1 | |
| Fee structure: A percentage of AUM, fixed fees, performance-based fees | |
| Headquarters: 55 East 52nd Street, 18th Floor New York, NY 10055 Website: www.bbrpartners.com Phone: 212-313-9870 |
All information included in this profile is accurate as of December 21, 2021. For more information, please consult BBR Partners’ website.
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 130 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.
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 22 equity partners in BBR Partners Holdings, LP.
With a minimum account balance generally set at $30 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 trusts, estates, charitable organizations, family partnerships, foundations and business entities.
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. For reference, the U.S. Securities and Exchange Commission (SEC) defines a high net worth individual as someone who has at least $750,000 under an advisor’s management or a net worth believed to be at least $1.5 million.
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:
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.
To get started, the firm will meet with each client to assess their portfolio objectives and wealth management needs. It uses this information to determine the client’s specific asset allocation plan and to decide on appropriate investment managers for their portfolio. In general, BBR Partners mainly allocates client assets among the following:
BBR Partners charges investment advisory fees that are based on a percentage of assets under management, with a minimum annual fee of $225,000. 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 | Percentage of assets |
| First $30 million | 0.75% |
| Over $30 million | 0.50% |
| Additional amounts over $150 million | Negotiable |
The firm notes that clients who have less than the generally required $30 million under the firm’s management will pay more than the 0.75% noted in the table above.
Clients who invest in BBR-administered private investment vehicles also pay administration fees, which range from 0.15% 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 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 Investment Adviser Public Disclosure (IAPD) page.
BBR Partners has offices in the following locations:
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 $30 million minimum requirement may be able to work with BBR under special circumstances, but typically will need to look elsewhere. Additionally, they will pay higher fees than usually charged by the firm.
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, use MagnifyMoney’s search tool to look for other potential financial advisors that may work for you.
Beth BravermanBeth Braverman is a freelance writer covering personal finance, careers and parenting. Her work has appeared in dozens of publications, including CNN Business, CNBC.com and USNews.
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