Veritable LP (Newtown Square)

Name: Veritable LP
Address: 6022 West Chester Pike, Newtown Square, PA, 19073
Telephone: 610-640-9551

Veritable LP is a large advisory firm based in Newtown Square. It manages $15.02 billion of regulatory assets for 3,132 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 38 other states.

Veritable provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Veritable: assets under management

The assets under management (AUM) of Veritable LP is $15.02 billion. The firm's AUM has grown by 122% since the beginning of its operation, and $23.91 million of the total AUM is attributable to clients outside of the United States.

The firm manages $14.68 billion in discretionary accounts and $345.69 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4.89 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.6 million.

Veritable has custody of $15.02 billion in cash and securities for 397 clients in total but doesn’t act 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 28% of the firm’s portfolio. Investments in investment and business development companies form 17% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Veritable LP 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 Veritable serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Veritable is high net worth individuals with 258 clients and $10.25 billion of assets under management. Among the 10 most similar advisory firms, Veritable has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $15.02 billion for 397 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Veritable also advises several private funds. Namely, thirty four hedge funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Veritable LP

The company employs 85 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. 27 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Aaron Stolper	Partner, chief executive officer	1 Mar 2004	Other	855175
Jonathan David Scott	Partner	1 Mar 2004	Other	2998381
Robert Kevin Stetson	Partner	1 Mar 2004	Other	1216534
Jeffrey Allan Beachell	Partner	1 Mar 2004	Other	3242941
Brett Ian Rubinson	Partner	1 Mar 2004	Other	3276583
Darren Andrew Bramen	Partner	1 Mar 2004	Other	4054876
Timothy Michael Alles	Chief financial officer	1 Mar 2004	Other	1448229
Edward Francis Bowman	Limited partner	1 Mar 2004	25% - 50%	1680804
Kenneth Adams Rowles	Limited partner	1 Mar 2004	Other	3140047
David Michael Belej	Limited partner	1 Mar 2004	Other	1846013
Richard Aron Tregerman	Limited partner	1 Mar 2004	Other	3143805
Llc Veritable Gp	General partner	1 Mar 2004	Other	20-0836216
David Michael Belej	Partner, chief investment officer	1 Apr 2004	Other	1846013
Charles Paxson Keates	General counsel	1 Apr 2004	Other	4478687
John Joseph Scuteri	Partner, chief operations officer	1 Apr 2005	Other	2000499
Jared Stuart Weiner	Limited partner	1 Apr 2007	Other	4552394
Charles Paxson Keates	Partner, general counsel, chief compliance officer	1 Jul 2007	Other	4478687
Courtney Renee Rickert	Limited partner	1 Jul 2007	Other	3189805
Ari Robert Pontz	Limited partner	1 Jul 2007	Other	3101603
Matthew Everett Taylor	Limited partner	1 Jul 2007	Other	3145276
Patrick James Dougherty	Limited partner	1 Jul 2007	Other	4054957
Regina S Falcone	Limited partner	1 Jul 2007	Other	2988130
Sonia Florio Peterson	Limited partner	1 Jul 2007	Other	3092702
Dennis John Ersin	Limited partner	1 Jun 2009	Other	5776374
Frederick Ross Bacani	Limited partner	1 Jun 2009	Other	3059729
Thomas Dennis Mahoney	Chief risk officer	1 Aug 2010	Other	6932217
Llc Squam Acquisition Lp	Partner	1 Jun 2012	50% - 75%	45-1211980
Llc Squam Acquisition Gp	Partner	1 Jun 2012	Other	45-1211980
James D. Mccall	Senior compliance officer	1 Jan 2015	Other	4488129
Vanessa Edith Kyranakis	Chief financial officer	1 Jun 2017	Other	6931841

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Affiliated Managers Group	Partner	1 Mar 2011	75% - 100%	04-3218510
Lp Amg Wealth Partners	Member	1 Mar 2012	75% - 100%	45-1211980

Based in Newtown Square

The principal office where Veritable LP performs its advisory services is located at 6022 West Chester Pike, Newtown Square, PA 19073, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 610-640-9551 or by fax 610-640-9554. The normal business hours are 8:30am - 5:30pm on Monday - Friday. You can find more information about the New York firm at veritablelp.com/.