Evercore Wealth Management, LLC (New York)

Evercore Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for approximately 600 clients. On top of advisory services, the firm doesn't engage in other business activities.

Evercore Wealth Management: assets under management

The assets under management (AUM) of Evercore Wealth Management, LLC is $7.56 billion. The firm's AUM has grown by 7144% since the beginning of its operation, and $109.63 million of the total AUM is attributable to clients outside of the United States.

The firm manages $7.5 billion in discretionary accounts and $55.5 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.63 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.98 million.

Evercore Wealth Management has custody of $111.38 million in cash and securities for 57 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 38% of the total AUM. The second-largest asset type is state and local bonds, which make up 24% of the firm’s portfolio. Investments in investment and business development companies form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Evercore Wealth Management, LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Evercore Wealth Management serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Evercore Wealth Management is high net worth individuals with 512 clients and $6.63 billion of assets under management. Among the 6 most similar advisory firms, Evercore Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.56 billion for 622 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Evercore Wealth Management doesn't advise any private funds.

Careers at Evercore Wealth Management, LLC

The company employs 84 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 10 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Khanh Ly joined the executive team most recently as the Chief Financial Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 6 indirect owners.

Based in New York

The principal office where Evercore Wealth Management, LLC performs its advisory services is located at 55 East 52 Nd Street, New York, NY 10055, which is also the mailing address of the firm. An additional office of the firm is in West Palm Beach, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-822-7620 or by fax 212-822-7630. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at evercorewealthmanagement.com.

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