T. Rowe Price Associates, Inc. (Baltimore)

T. Rowe Price Associates, Inc. is a large advisory firm based in Baltimore. It manages $940.64 billion of regulatory assets for 2,445 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

T. Rowe Price Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

T. Rowe Price Associates: assets under management

The assets under management (AUM) of T. Rowe Price Associates, Inc. is $940.64 billion. The firm's AUM has grown by 631% since the beginning of its operation, and $45.3 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $940.07 billion in discretionary accounts and $564.8 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $385.12 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $141.2 million.

T. Rowe Price Associates has custody of $127.01 billion in cash and securities for 1,501 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 66% of the total AUM. The second-largest asset type is non-investment grade corporate bonds, which make up 8% of the firm’s portfolio. Investments in government bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay T. Rowe Price Associates, Inc. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Edward Cage Bernard 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, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Edward Cage Bernard is investment companies with 287 clients and $706.43 billion of assets under management. Among the 14 most similar advisory firms, T. Rowe Price Associates has the 7th highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $940.42 billion for 1,689 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 12% of the firm’s clients are foreign persons or businesses.

T. Rowe Price Associates also advises several private funds. Namely, six other private funds and four private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $100,000.

Careers at T. Rowe Price Associates, Inc.

The company employs 3,759 people that are either part- or full-time employees. 12 percent of the employees work as investment advisers or researchers. 67 employees are registered as investment adviser representatives with the state securities authorities.

There are 7 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Edward Cage Bernard has been acting as President since 1 Jan 2007. Brian Charles Rogers has served as the Chief Investment Officer since 1 Jan 2007. Robert W Sharps joined the executive team most recently as the Director.

Direct owners and executive officers

Based in Baltimore

The principal office where T. Rowe Price Associates, Inc. performs its advisory services is located at 100 East Pratt Street, Baltimore, MD 21202, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 410-345-2000 or by fax 410-345-6575. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at troweprice.com.

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