Heronetta Management, L.P. (New York)

Name: Heronetta Management, L.P.
Address: 654 Madison Avenue, New York, NY, 10065
Telephone: 212-601-5333

Heronetta Management, L.P. is a large advisory firm based in New York. It manages $250.2 million of regulatory assets for 30 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdiction of New York.

Heronetta Management provides portfolio management for individuals and small businesses, 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.

Heronetta Management: assets under management

The assets under management (AUM) of Heronetta Management, L.P. is $250.2 million. The firm's AUM has grown by 66% since the beginning of its operation, and $46 million of the total AUM is attributable to clients outside of the United States.

The firm manages $241.47 million in discretionary accounts and $8.72 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8.94 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.91 million.

Investments

The firm invests in exchange traded securities the most. They account for 99% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Heronetta Management, L.P. 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 Heronetta Management serves?

The firm provides services to insurance companies, high net worth individuals, and pooled investment vehicles. The largest group of clients of Heronetta Management is pooled investment vehicles with 2 clients and $107.04 million of assets under management. Among the 5 most similar advisory firms, Heronetta Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $250.2 million for 30 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

Heronetta Management also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $5,000,000.

Careers at Heronetta Management, L.P.

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
Henry Reynolds Breck	Managing partner	1 Dec 2007	75% - 100%	29504
Christopher Mccrary Breck	Managing partner	1 Dec 2007	50% - 75%	4597738
Llc Heronetta Management	General partner	1 Jan 2008	75% - 100%	26-1600641
Jeffrey Joseph Scott	Chief compliance officer	1 Jan 2015	Other	4483240
Owen I. Breck	Partner	1 Mar 2015	Other	6453656

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Henry Reynolds Breck	Managing member	1 Jan 2008	75% - 100%	29504

Based in New York

The principal office where Heronetta Management, L.P. performs its advisory services is located at 654 Madison Avenue, New York, NY 10065, 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 212-601-5333 or by fax 212-751-1730. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at heronmgmt.com.