Cushing Asset Management, LP is a large advisory firm based in Dallas. It manages $2.74 billion of regulatory assets for 100 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Massachusetts, New York, and Texas.
Cushing Asset Management 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.
The assets under management (AUM) of Cushing Asset Management, LP is $2.74 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -22% since the beginning of its operation, and $205.74 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Cushing Asset Management, LP for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, 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 Cushing Asset Management is investment companies with 10 clients and $1.61 billion of assets under management. Among the 8 most similar advisory firms, Cushing Asset Management has the highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $2.74 billion for 100 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 8% of the firm’s clients are foreign persons or businesses.
Cushing Asset Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.
The company employs 33 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.
The principal office where Cushing Asset Management, LP performs its advisory services is located at 300 Crescent Court, Dallas, TX 75201, which is also the mailing address of the firm. An additional office of the firm is in Hanover, MA. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 214-692-6334 or by fax 214-219-2353. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at swankcapital.com.