Scott's Cove Management LLC (New York)

Name: Scott's Cove Management LLC
Address: 400 Madison Avenue, New York, NY, 10017
Telephone: 212-899-3570

Scott's Cove Management LLC is a mid-sized advisory firm based in New York. It manages $66.38 million of regulatory assets for 4 client accounts. It has been registered with the SEC as an adviser since 2012.

Scott's Cove Management provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Scott's Cove Management: assets under management

The assets under management (AUM) of Scott's Cove Management LLC is $66.38 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -62% since the beginning of its operation, and $62.14 million of the total AUM is attributable to clients outside of the United States.

The firm manages $66.38 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $16.59 million each.

Scott's Cove Management has custody of $66.38 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Scott's Cove Management LLC for their services and products based on a percentage of assets under management 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 Scott's Cove Management serves?

The only and largest group of clients of Scott's Cove Management is pooled investment vehicles with 4 clients and $66.38 million of assets under management. Among the 1 most similar advisory firms, Scott's Cove Management has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $66.38 million for 4 clients. 75% of the firm’s clients are foreign persons or businesses.

Scott's Cove Management also advises several private funds. Namely, four hedge funds. The minimum investment commitment required of non-related persons ranges from $100,000 to $500,000.

Careers at Scott's Cove Management LLC

The company employs 5 people that are either part- or full-time employees. 60 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
Phillip Scott Schaeffer	Managing member; chief compliance officer	1 Mar 2011	25% - 50%	1576582
Stephen Richard Levitan	Managing member	1 Mar 2011	25% - 50%	1015339
Philip Richard Acinapuro	Managing member	1 Mar 2011	25% - 50%	1549282

Based in New York

The principal office where Scott's Cove Management LLC performs its advisory services is located at 400 Madison Avenue, New York, NY 10017, 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 212-899-3570. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at scottscove.com.