Karani Asset Management LLC (New York)


Karani Asset Management LLC is a large advisory firm based in New York. It manages $327.95 million of regulatory assets for 41 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of New Jersey and New York.

Karani Asset Management provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Karani Asset Management: assets under management

The assets under management (AUM) of Karani Asset Management LLC is $327.95 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -28% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $327.95 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8 million each.
Karani Asset Management has custody of $86.9 million in cash and securities for 4 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 87% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 13% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Karani Asset Management LLC for their services and products based on a percentage of assets under management. 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 Karani Asset Management serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Karani Asset Management is high net worth individuals with 36 clients and $272.14 million of assets under management. Among the 4 most similar advisory firms, Karani Asset Management has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $308.84 million for 37 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.

Karani Asset Management doesn't advise any private funds.

Careers at Karani Asset Management LLC

The company employs 6 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. No 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 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Richard Lyman Bayles Member. ceo 1 May 2018 75% - 100% 15396
Youngdawn Daniel Ha Member, partner 1 May 2018 Other 5328362
Patrick Anthony Keenan Chief financial officer/chief compliance officer 1 May 2018 Other 1803525

Based in New York

The principal office where Karani Asset Management LLC performs its advisory services is located at 888 Seventh Avenue, New York, NY 10106, 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 646-593-7450 or by fax 212-202-4308. The normal business hours are 9 am to 5 pm on Monday - Friday.