Lowe, Brockenbrough & Company, Inc. (Richmond)

Name: Lowe, Brockenbrough & Company, Inc.
Address: 1802 Bayberry Ct., Richmond, VA, 23226 3767
Telephone: 804-288-0404

Lowe, Brockenbrough & Company, Inc. is a large advisory firm based in Richmond. It manages $2.82 billion of regulatory assets for 813 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Kentucky, Louisiana, and 9 other states.

Lowe, Brockenbrough & Company provides 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, and investment advice to pension plan sponsors. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lowe, Brockenbrough & Company: assets under management

The assets under management (AUM) of Lowe, Brockenbrough & Company, Inc. is $2.82 billion. The firm's AUM has grown by 15% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.59 billion in discretionary accounts and $1.23 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.01 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $64.64 million.

Lowe, Brockenbrough & Company has custody of $386.02 million in cash and securities for 114 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 40% of the total AUM. The second-largest asset type is exchange traded securities, which make up 26% of the firm’s portfolio. Investments in investment and business development companies form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lowe, Brockenbrough & Company, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, 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 Lowe, Brockenbrough & Company serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Lowe, Brockenbrough & Company is high net worth individuals with 360 clients and $868.85 million of assets under management. Among the 11 most similar advisory firms, Lowe, Brockenbrough & Company has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.2 billion for 595 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.

Lowe, Brockenbrough & Company also advises several private funds. Namely, seven hedge funds, three real estate funds, and twenty one private equity funds. The minimum investment commitment required of non-related persons ranges from $30,000 to $350,000.

Careers at Lowe, Brockenbrough & Company, Inc.

The company employs 26 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 16 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Austin Brockenbrough Iii	Managing director & chairman of the board	1 Jul 1970	50% - 75%	1718558
Charles Martin Caravati	Managing director & secretary	1 Dec 1998	Other	1888374
David Allen Lyons	Managing director & treasurer	1 Sep 2000	Other	1624727
Page Taylor Reece	Chief compliance officer	1 Sep 2004	Other	1023228
Austin Brockenbrough	Managing director & president	1 Dec 2005	25% - 50%	2347134
Walter Spencer Robertson	Managing director	1 Sep 2016	Other	4443678

Based in Richmond

The principal office where Lowe, Brockenbrough & Company, Inc. performs its advisory services is located at 1802 Bayberry Ct., Richmond, VA 23226 3767, 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 804-288-0404 or by fax 804-288-7872. The normal business hours are 8:30a.m.-5:00p.m. on Monday - Friday. You can find more information about the New York firm at jamestownfunds.com.