Alliancebernstein L.P. (New York)

Alliancebernstein L.P. is a large advisory firm based in New York. It manages $486.96 billion of regulatory assets for 46,175 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Alliancebernstein 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 asset allocation. It prepares financial plans for approximately 31,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Alliancebernstein: assets under management

The assets under management (AUM) of Alliancebernstein L.P. is $486.96 billion. The firm's AUM has gone down by -10% since the beginning of its operation, and $174.41 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $469.13 billion in discretionary accounts and $17.83 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $10.18 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $191.72 million.

Alliancebernstein has custody of $21.22 billion in cash and securities for 109 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 39% of the total AUM. The second-largest asset type is government bonds, which make up 11% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Alliancebernstein L.P. for their services and products based on a percentage of assets under management, subscription fees, fixed fees, commissions, and performance-based 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 Alliancebernstein serves?

The firm provides services to insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, business development companies, 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 Alliancebernstein is insurance companies with 78 clients and $133.17 billion of assets under management. Among the 12 most similar advisory firms, Alliancebernstein has the 3rd highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $486.96 billion for 24,854 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.

Alliancebernstein also advises several private funds. Namely, thirty two hedge funds, four real estate funds, twenty eight other private funds, and one private equity fund. The minimum investment commitment required of non-related persons ranges from $0 to $25,000,000.

Careers at Alliancebernstein L.P.

The company employs 3,479 people that are either part- or full-time employees. 61 percent of the employees work as investment advisers or researchers. 381 employees are registered as investment adviser representatives with the state securities authorities.

There are 36 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.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 16 indirect owners.

Based in New York

The principal office where Alliancebernstein L.P. performs its advisory services is located at 1345 Ave Of The Americas, New York, NY 10105, which is also the mailing address of the firm. An additional office of the firm is in Philadelphia, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-969-1000 or by fax 212-969-2293. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at bernstein.com.

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