Pzena Investment Management LLC
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Overview
Pzena Investment Management LLC operates as an advisory firm based in New York, New York. The firm has $49.3 billion in assets under management over 228 customer accounts, making it one of the largest investment advisory firms in the United States by assets under management (AUM). It has a large group, including 51 financial advisors. Pzena Investment Management LLC is not a registered broker-dealer, meaning it cannot buy and sell securities for its accounts and those of its clients and instead is required to go through a broker-dealer company to do so. Securities are exchangable fiscal assets like options, bonds and equities.
Pzena Investment Management LLC oversees the majority of the firm's client assets in a discretionary manner. Discretionary management signifies that an investment advisor makes transaction judgments without requiring client consent. Pzena Investment Management LLC also administers one non-discretionary accounts totaling $721.6 million in AUM. The advisory firm manages about $216.2 million in assets for each account. The average financial advisor at Pzena Investment Management LLC oversees about four client accounts, placing it among the most individualized firms in the country.
The firm's central office is located at 320 Park Avenue, 8Th Floor, New York, New York 10022. Pzena Investment Management LLC is legally permitted to provide services to clients throughout 16 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Pzena Investment Management LLC by the Numbers
$49.3 billion
148
228
$216.2 million
Fee Structure
Fees charged by financial advisors typically vary depending on which services the firm provides the client. However, fees billed by Pzena Investment Management LLC can include some combination of the following fee structures: asset-based or performance-based. Pzena Investment Management LLC does not provide a wrap fee program, in which the firm offers a service bundle for a single fee.
Available
-
Offered by 69% of firms
Percentage of Assets
-
Offered by 26% of firms
Performance-based
Unavailable
-
Find one of the 21% of firms that offer this fee type
Hourly
-
Find one of the 1% of firms that offer this fee type
Commissions
-
Find one of the 0% of firms that offer this fee type
Subscription
-
Find one of the 32% of firms that offer this fee type
Fixed
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Find one of the 10% of firms that offer this fee type
Other
Types of Clients
The firm manages money for a number of different customers. It provides services to retail investors, high net worth investors, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, other investment advisers, insurance companies, sovereign wealth funds and corporations. Out of its 228 accounts, Pzena Investment Management LLC's biggest client is pooled investment vehicles, though it also manages money for 38 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Around 23% of the company's clients are represented by non-U.S. persons.
- High-Net-Worth Individuals* - 17.04%
- Other Individuals - 2.24%
- Corporations - 71.3%
- Charitable Organizations - 9.42%
* 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
Pzena Investment Management LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Pzena Investment Management LLC
New York, NY
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