Salient Private Client, LLC (Houston)

Name: Salient Private Client, LLC
Address: 4265 San Felipe Street, Houston, TX, 77027
Telephone: 17139954010

Salient Private Client, LLC is an adviser based in Houston. It manages $189.95 million of regulatory assets for 46 client accounts. It has been registered with the SEC as an adviser since 2017.

Salient Private Client provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Salient Private Client: assets under management

The assets under management (AUM) of Salient Private Client, LLC is $189.95 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -89% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $189.95 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4.13 million each.

Salient Private Client has custody of $31.55 million in cash and securities for 22 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 35% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 23% of the firm’s portfolio. Investments in investment and business development companies form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Salient Private Client, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Salient Private Client serves?

The only and largest group of clients of Salient Private Client is high net worth individuals with 46 clients and $189.95 million of assets under management. Among the 7 most similar advisory firms, Salient Private Client has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $189.95 million for 46 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Salient Private Client also advises several private funds. Namely, twenty nine other private funds. The minimum investment commitment required of non-related persons ranges from $250,000 to $500,000.

Careers at Salient Private Client, LLC

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
L.P. Salient Partners	Member	1 May 2017	75% - 100%	87-0696141
Paul Axtell Bachtold	Chief compliance officer	1 May 2017	Other	2857451
John Arthur Blaisdell	Chairman and chief executive officer	1 May 2017	Other	4638025
Dawna Lynne Daniel	Secretary	1 May 2017	Other	5137048
Jonathan Wade Depriest	Executive vice president and general counsel	1 May 2017	Other	6730905
Heinrich Grobler	Chief operating officer - trust and advisory	1 May 2017	Other	5908779
John Edward Price	Chief financial officer and treasurer	1 May 2017	Other	4739769
Jeremy Lawrence Radcliffe	President and chief strategy officer	1 May 2017	Other	2917897
Andrew Baird Linbeck	Managing director - trust and advisory	1 May 2017	Other	1762524
Robert Shigeo Naka	Chief operating officer	1 May 2017	Other	1934281
Douglas Joseph Besso	Chief technology officer	1 Aug 2018	Other	1530829
Lance Devin Murray	Chief compliance officer	1 Aug 2018	Other	5007605
Timothy Bernard Woods	General counsel	1 Aug 2018	Other	4428777
Barry Anthony Coviello	National director of field supervision	1 Aug 2018	Other	1813688
George Stephen Fischer	Managing director of operations and services	1 Aug 2018	Other	4681610
Nicolas Mutch	Executive director operations and services	1 Aug 2018	Other	5299295
Llc Stampede Wealth Holdings	Holding company	1 Aug 2018	75% - 100%	82-5184552
Hightower Holding Llc	Holding company	1 Sep 2018	75% - 100%	26-2270729

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Salient Capital Management	General partner	1 May 2003	Other	87-0696139
John Arthur Blaisdell	Elected manager	1 May 2003	Other	4638025
Andrew Baird Linbeck	Elected manager	1 May 2003	Other	1762524
Christopher John Dean	Elected manager	1 Jan 2010	Other	2644612
John Philip Ferguson	Elected manager	1 May 2012	Other	819892
Gregory Allen Reid	Elected manager	1 Feb 2017	Other	2176683
Jeremy Lawrence Radcliffe	Elected manager	1 Nov 2017	Other	2917897
Llc Thl Equity Fund Vii Investors (Ht)	50% owner of applicant's holding company	1 Aug 2018	50% - 75%	82-3551026
Elliot Sol Weissbluth	Ceo and chairman of board of ht holding llc	1 Aug 2018	Other	4507503

Based in Houston

The principal office where Salient Private Client, LLC performs its advisory services is located at 4265 San Felipe Street, Houston, TX 77027, 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 17139954010. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at salientindices.com.