Rivernorth Capital Management, LLC

CRD#122020
Investment Advisor Firm

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Learn more about Rivernorth Capital Management, LLC

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

    • Overview

    Rivernorth Capital Management, LLC operates as an advisory company based in West Palm Beach, Florida. The company administers $6.0 billion in total assets over 23 client accounts, making it one of the largest financial advisory firms in the United States by assets under management (AUM). The company has a small group, including 8 financial advisors. Rivernorth Capital Management, LLC does not act as a registered broker-dealer, signifying that the firm cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are exchangable fiscal investments such as equities, bonds and options.

    Rivernorth Capital Management, LLC manages all of its accounts in a discretionary manner. Discretionary management means that buy and sell decisions are made by a portfolio manager without requiring client authorization. The company's average account size is $260.5 million. An average advisor at Rivernorth Capital Management, LLC manages about three client accounts, placing it among the most personalized firms in the country.

    The company's central office is located at 360 S. Rosemary Ave, West Palm Beach, Florida 33401. The firm is registered to provide services to clients across a few states, including Florida, Illinois and Washington.

    Assets Under Management

    $6.0 billion

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    360 S. Rosemary Ave
    West Palm Beach, FL 33401

    Rivernorth Capital Management, LLC by the Numbers

    Total Assets Under Management

    $6.0 billion

    National Average: $8.6 billion
    Total Number of Employees

    18

    National Average: 64
    Total Number of Accounts

    23

    National Average: 375,227
    Average Account Size

    $260.5 million

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial management are based on the services offered. Fee types billed by the firm can consist of the following fee types: asset-based or performance-based. The firm does not provide a wrap fee program, in which the company offers a bundle of services for a comprehensive 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.

    • Offered by 26% of firms

      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.

    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 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.

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    Types of Clients

    Rivernorth Capital Management, LLC provides services to investment companies, pooled investment vehicles, charitable organizations and other investment advisers. Out of its 23 customers, Rivernorth Capital Management, LLC's largest client type by number of accounts is investment companies. Just 5% of the company's customers are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 0%
    • Other Individuals - 0%
    • Corporations - 90.48%
    • Charitable Organizations - 9.52%

    * 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

    Rivernorth Capital Management, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Rivernorth Capital Management, LLC

    William Webb
    West Palm Beach, FL
    Christopher Lakumb
    Vancouver, WA
    Eric Pestrue
    West Palm Beach, FL
    Stephen O'Neill
    West Palm Beach, FL
    Melissa Braun
    West Palm Beach, FL
    Patrick Galley
    Chicago, IL
    Brian Schmucker
    Chicago, IL

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