Gamco Asset Management Inc. (Rye)

Name: Gamco Asset Management Inc.
Address: One Corporate Center, Rye, NY, 10580 1422
Telephone: 914-921-5000

Gamco Asset Management Inc. is a large advisory firm based in Rye. It manages $12.97 billion of regulatory assets for 1,605 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 45 other states.

Gamco 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.

Gamco Asset Management: assets under management

The assets under management (AUM) of Gamco Asset Management Inc. is $12.97 billion. The firm's AUM has gone down by -4% since the beginning of its operation, and $106.96 million of the total AUM is attributable to clients outside of the United States.

The firm manages $12.96 billion in discretionary accounts and $18 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8.1 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3 million.

Investments

The firm invests in exchange traded securities the most. They account for 94% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 6% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Gamco Asset Management Inc. for their services and products based on a percentage of assets under management, fixed fees, 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 Gamco Asset Management serves?

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, and state or municipal government entities. The largest group of clients of Gamco Asset Management is pension and profit sharing plans with 86 clients and $3.34 billion of assets under management. Among the 8 most similar advisory firms, Gamco Asset Management has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $12.97 billion for 1,605 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.

Gamco Asset Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Gamco Asset Management Inc.

The company employs 77 people that are either part- or full-time employees. 22 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 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

Name	Entity	Date acquired	Ownership	Employer ID
Mario Joseph Gabelli	Chief executive officer and chief investment officer - value portfolio, majority shareholder of ultimate parent company	1 Nov 1976	Other	216136
Douglas Richard Jamieson	President, chief operating officer, managing director, director	1 Mar 1981	Other	1056140
Regina Marie Pitaro	Managing director, director	1 Dec 1984	Other	1046970
Frederick William Scholz	Managing director, director	1 Nov 1985	Other	1048574
Joseph Rudolph Rindler	Chairman, managing director, director	1 May 1986	Other	1498116
Inc. Gamco Investors	Shareholder-100% owner of applicant	1 Feb 1999	75% - 100%	13-4007862
William S Selby	Managing director, director	1 Nov 1999	Other	1541480
Peter D. Goldstein	Chief compliance officer	1 Oct 2004	Other	2898210
Howard Frank Ward	Chief investment officer-growth portfolios	1 Jan 2005	Other	1059031
Christopher J Michailoff	Deputy general counsel	1 Jul 2005	Other	3213776
Michael Rocco Anastasio	Chief financial officer	1 Aug 2005	Other	4303783
John Pointkowski	Coo/cfo	1 Sep 2006	Other	5229350
John Piontkowski	Cfo/coo	1 Sep 2006	Other	5229350
Jeffrey Mark Farber	Chief financial officer	1 Nov 2008	Other	4192238
Christopher Charles Desmarais	Managing director	1 Jan 2010	Other	2407145
David Elihu Ourlicht	Managing director	1 May 2010	Other	1266262
Robert Zucccaro	Chief financial officer	1 Feb 2011	Other	4240378
David Marc Goldman	General counsel, secretary & chief compliance officer	1 Dec 2011	Other	3191963
Kieran Douglas Caterina	Co chief accounting officer	1 Mar 2012	Other	3049042
Thomas J. Hearity	Assistant secretary	1 Jun 2012	Other	6086007
Kevin Vaughn Dreyer	Managing director, co-cio value	1 Jan 2015	Other	4981265
Christopher Jason Marangi	Managing director, co-cio value	1 Jan 2015	Other	4698823

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Ggcp	Shareholder of class b common stock	1 Feb 1999	75% - 100%	13-4007862
Inc. Ggcp	Manager and member	1 May 2010	75% - 100%	13-4007862
Ggcp Holdings Llc	Majority shareholder of the class b common stock	1 May 2010	75% - 100%	27-2509609

Based in Rye

The principal office where Gamco Asset Management Inc. performs its advisory services is located at One Corporate Center, Rye, NY 10580 1422, which is also the mailing address of the firm. An additional office of the firm is in Palm Beach, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 914-921-5000 or by fax 914-921-5098. The normal business hours are 8 a.m. - 6 p.m. on Monday - Friday. You can find more information about the New York firm at gabelli.com.