Convergence Investment Partners, LLC

CRD#148472
Investment Advisor Firm

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Learn more about Convergence Investment Partners, LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    Convergence Investment Partners, LLC is a financial advisory firm located in Palm Beach Gardens, Florida. Convergence Investment Partners, LLC oversees $203.3 million in assets throughout 336 accounts, placing it in the mid-tier of financial advisory firms in the United States by assets under management (AUM). Convergence Investment Partners, LLC has a small team, including 4 financial advisors. Convergence Investment Partners, LLC is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer company to do so. Securities are defined as tradable fiscal investments such as options, stocks and bonds.

    Convergence Investment Partners, LLC manages the majority of the company's accounts on a discretionary basis. Discretionary management signifies that an investment advisor has the discretion to make transaction decisions without needing to seek the customer's approval. The firm also administers 80 non-discretionary accounts totaling $12.6 million in AUM. The investment advisory firm manages an average of $605,191 in assets for every account. An average financial advisor at Convergence Investment Partners, LLC manages about 84 client accounts.

    The company's central office is located at 3801 Pga Blvd., Palm Beach Gardens, Florida 33410-2757. The firm is legally registered to provide services to customers throughout 11 U.S. states and territories.

    Assets Under Management

    $203.3 million

    Number of Advisors

    4

    Disclosures

    No

    Office Location

    3801 Pga Blvd.
    Palm Beach Gardens, FL 33410-2757

    Convergence Investment Partners, LLC by the Numbers

    Total Assets Under Management

    $203.3 million

    National Average: $8.6 billion
    Total Number of Employees

    6

    National Average: 64
    Total Number of Accounts

    336

    National Average: 375,227
    Average Account Size

    $605.2 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial management typically depend on which service is provided. Fees billed by the company typically consist of the following fee type: asset-based. The company participates in a wrap fee program, in which the company offers a service bundle for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 32% of firms that offer this fee type

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Back to Overview

    Types of Clients

    The company caters to high net worth investors, investment companies, other investment advisers and corporations. Out of its 336 accounts, Convergence Investment Partners, LLC's largest client group is high net worth investors, although it also serves 244 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 97.21%
    • Other Individuals - 0%
    • Corporations - 2.79%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Convergence Investment Partners, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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