Registered investment advisors (RIAs) are undoubtedly best positioned to serve high-net-worth families and individuals seeking an alignment of interests between the firm and client. To shine a light on the growing RIA landscape, FINTRX explores three of the largest registered investment advisors (RIAs) based in New Mexico.
1. Thornburg Investment Management Inc. = ~$43.5B+ in AUM
Founded by Garrett Thornburg in 1982, Thornburg Investment Management Inc. is a Santa Fe, New Mexico-based global investment firm that offers a range of multi-strategy investment solutions for institutions and financial advisors. Thornburg is geographically removed from the world’s major financial centers. Being far from the status quo investment arena allows the group to think outside of popular opinion and base its decisions on unconventional wisdom and a larger frame of reference. As a recognized leader in fixed income, equity, and alternatives investing, the firm oversees mutual funds, institutional accounts, separate accounts for high-net-worth investors, and UCITS funds for non-U.S. investors.
Thornburg Investment Management takes a disciplined approach to portfolio construction, guided more by convictions than convention. Rather than using benchmarks as their starting point, the firm applies active management to seek the best value for its clients. Thornburg’s collaborative, relative-value research structure is one where all analysts may make contributions to multiple strategies. Portfolio managers also serve as research analysts. This allows them to integrate with, rather than be separated from, the discovery of investment ideas.
Thornburg's independence removes the distractions of a corporate parent and lets them focus on generating attractive investment returns over time. The group seeks to add value with active portfolio management to help investors reach their long-term goals. Now more than 30 years into their mission, Thornburg’s Investment lineup represents a wide range of fixed income, equity, and liquid alternative solutions.
"Everyone on the investment team—from our fixed income to equities experts—spends time together debating, disagreeing, critiquing and learning from one another. The result is a steady flow of better, more unconventional ideas." - Jason Brady, President and CEO
- Founded: 1982
- Headquarters: Santa Fe, NM
- Discretionary Assets: ~$43.5B+
- Non-Discretionary Assets: $0
- Total AUM: ~$43.5B+
- Specialties: Investment Management, Mutual Funds, and Institutional Accounts
2. Ulrich Consulting & Investment Group, LLC = ~$1.6B+ in AUM
Established in 2007, Ulrich Consulting & Investment Group, LLC is an Albuquerque, New Mexico-based investment advisor with additional offices in San Antonio, Texas, and Spokane, Washington. As a 100% employee-owned independent fiduciary advisor, investment consulting is the heart of what they do. Ulrich Consulting & Investment group does not sell products or ancillary services, but rather prudent management and customized solutions for complex clients that include high net worth families, family offices, and fiduciary trustees. Free from corporate constraints, Ulrich offers an approach that you will not find at large Wall Street firms which often place restrictions on offerings, pricing, and the availability of money managers.
Because Ulrich Investment Consultants utilizes an open architecture platform, the firm is not limited to any one institution’s offerings. Foundations, endowments, corporations, and Native American organizations have a much wider range of needs. Backed by over 50 years of experience and augmented by a strategic partnership with Callan — one of the leading institutional investment consulting services and research providers in the industry, the group ensures the prudent management of fiduciary assets by establishing appropriate standards that help generate results at every stage.
At Ulrich, when it comes to asset classes, the group looks at the best approach for each individual client. That means identifying individual goals, objectives, and risk tolerance. Ulrich does not start with a standard 60/40 (stock/bond) portfolio, but rather defines asset classes by their purpose or expected outcome within a portfolio: Growth, Income, Volatility, and Liquidity. Individual investments may provide multiple functions to a portfolio depending on the market cycle.
While core holdings are essential to proper diversification, Ulrich believes a tactical allocation can provide outsized returns when opportunities present themselves via a market dislocation, discoveries in innovation and technology, or changes to the regulatory environment. For instance, artificial intelligence, blockchain technology, cybersecurity, and 3D printing are rapidly changing the way companies do business, creating attractive new investment opportunities. In addition, alternative investments, including private equity, private credit, and private real estate have historically been a means of securing higher returns; however, investing in these asset classes typically requires sacrifices, including long lock-up periods, higher fees, and higher risk.
- Founded: 2007
- Headquarters: Albuquerque, NM
- Discretionary Assets: ~$930.2M+
- Non-Discretionary Assets: ~$748.1M+
- Total AUM: ~$1.6B+
- Specialties: Wealth Management, Consulting Services, High Net Worth, Institutional Client Services, Retirement Plans, Taft-Hartley Benefit Plans, and Sovereign Tribes and Related Organizations
3. REDW Wealth LLC = ~$822.8M+ in AUM
Founded in 1997, REDW Wealth LLC is an Alburquerque, New Mexico-based investment advisory firm that assists clients in wealth and asset management, investment advice, and other financial planning and estate planning needs. The firm serves a variety of inspiring families and individuals who want to build a thoughtfully planned and sustainable future. REDW Wealth successfully advises individuals and families in the Southwest, as well as tribal entities, foundations, and corporate clients to build and protect their wealth.
With more than 20 years of experience assisting clients with wealth management, investment management, and retirement plan advisory, REDW Wealth's professional advisors offer comprehensive planning designed to grow and protect client wealth. The firm's investment process combines asset allocation and sector analysis to build properly diversified portfolios, each designed to meet the specific financial goals and needs of its clients.
REDW Wealth is an SEC-registered subsidiary of REDW LLC, which means they have the ability to draw on the resources within all areas of the firm. Clients who come to REDW for their business accounting needs are able to seamlessly integrate their investment and retirement planning needs in a more holistic way. Clients can be assured that their relationship with the firm can extend as needs arise in the direction of business accounting and advisory, human resource consulting, business valuation and litigation, and many other financial services.
Headquarters: Albuquerque, NM
Discretionary Assets: ~$822.8M+
Non-Discretionary Assets: $0
Total AUM: ~$822.8M+
Specialties: Financial Planning, Investment Management, Wealth Management, and Retirement Planning
A registered investment advisor (RIA) is any firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.
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