LazardAsset Management –South Central Region/Northeast Region RIA Wholesaler (2370)

Selling Points

  • Lazard Asset Management provides investment management and advisory services to institutional clients, financial intermediaries, private clients and investment vehicles around the world. The company invests in a wide selection of equity, fixed income and alternative investments with the goal of producing superior risk-adjusted investment returns and providing investment solutions customized for their clients. The company’s primary distinguishing features include:

A global footprint characterized by global research, a global investment platform, and global clients

A broad-based team of more than 235 investment personnel worldwide

Dedicated in-house research with over 80 analysts, including those on the Global Research Platform and those dedicated to specialty teams

A focus on security selection in the investment process

Distribution across multiple channels

A strong commitment to excellence

  • Lazard Asset Management is known for its global perspective on investing and years of experience with global, regional and domestic portfolios. With more than 235 investment personnel worldwide, the company offers investors of all types an array of equity, fixed income, and alternative investment solutions from our network of local offices in ten different countries.

With over $116.5 billion in assets under management (with the Wealth Management group overseeing $8 billion), Lazard has offices located throughout the world in Bahrain, Boston, Frankfurt, Hong Kong, London, Milan, Montreal, New York, San Francisco, Seoul, Sydney, Tokyo, and Toronto. Lazard Asset Management’s business is a diversified, global investment platform that focuses on managing assets for their clients. As a result, throughout all market environments, they maintain a disciplined approach to investing with a research-driven investment process focusing on financial productivity and valuation. They believe there are substantial opportunities for value driven investors and continue to seek out and invest in companies with healthy balance sheets and sustainability of returns. The company’s team-based approach to portfolio management helps to deliver robust and consistent performance over time and strong client relationships allowsthem to understand how to employ their capabilities to the clients' advantage.

Academic in nature, the company’s Investment Research showcases the work of Lazard’s thought leaders from around the world. Business is conducted with various geographical focuses, culling ideas from analysts around the world. The insight from their internal research team allows the use of the company’s best ideas. The Traveling Analyst series of Investment Research focuses on the relevance of specific countries or regions for the global investor. Each issue reports the thoughts of Lazard analysts who have traveled to assess the opportunities, risks and implications of investing in different parts of the world.

Lazard is a truly global investment manager, utilizing bottom-up security selection process that emphasizes original research, accounting validation, and fundamental analysis.

  • Lazard Insights Conference Calls are an ongoing series of monthly conference calls discussing timely issues in today’s market. The calls are not specific to any Lazard products or services; rather, they are designed to share value-added insights from Lazard’s thought leaders around the world.

Products

  • They offer a great variety of products – balanced (3.4%), Fixed Income (9.0%), U.S. Equity (11.9%), Asia-Pacific Equity (6.9%), European Equity (5.2%), Emerging Markets Equity (22.7%), Global ex U.S. Equity (11.6%), Global Equity (25.9%), and Alternatives (3.4%)

-The Lazard Funds, Inc – 13 Portfolios available in Open Shares ($2,500 min) and Institutional Shares ($100,000 min); the Lazard Retirement Services – 4 Portfolios; the Lazard Closed End Funds – 2 Portfolios

-The Lazard Capital Allocation Series is a professionally managed global portfolio solution that invests across countries, sectors and asset classes. Investment decisions are made quarterly based on the LCAS Advisory Board's forward assessment of the global capital markets and a proprietary risk/reward probability methodology. Asset class and sector investment ideas are reflected in the portfolio primarily through index related products and closed end funds that aim to take advantage of changing markets and economic conditions.

-Lazard's Alternative Investment business developed as an outgrowth of Lazard's traditional investment banking and financial advisory businesses. The skills developed day-to-day through providing clients with Lazard's best financial advice offered them the opportunity to leverage their resources for investment outside the traditional sphere.As of February 28, 2010 Lazard manages $4.2 billion in Alternative Investments assets. Lazard's Alternative Investments business is dedicated to achieving consistently high returns with limited risk to their investors. The company’s Alternative Investment business currently manages assets using the following strategies:

  • Long / Short Global Equity
  • Long / Short European Equity
  • Long / Short Japanese Equity
  • Emerging Market Local Currency Debt
  • Closed-End Funds
  • Fund of Hedge Funds
  • Relative Value

Role

  • Territory – they will look for someone to either cover the South Central area (including Texas, Louisiana, Arkansas, Missouri, Kansas, Oklahoma, Colorado and New Mexico), or the Northeast area (including New York, Connecticut, Pennsylvania, New Jersey, Maryland, Delaware, Washington DC, Virginia – there is some flexibility in regards to the size of the territories, depending on the strength of the candidates and their relationships

-Coverage for the South Central and Northeastterritories has been relatively consistent over the past 8 years, although has waned from time-to-time and they have not had focused coverage recently. Walking into approximately $1.5 billion in total assets in each territory, with most territories averaging $500mm in yearly gross sales

  • Selling mutual funds, separately managed accounts, alternative products, and the Lazard Capital Allocation Series to RIAs, Single Family and Multi Family Offices, and to Endowments, Foundations in the mid-market institutional space (under $500mm)

-Candidates that will bring strong penetration into the Family Office space would be ideal

Candidates

  • Preference is either Texas or Coloradobased for the South Central area; New York City, New Jersey, Connecticut or Philadelphia based would be the preference for the Northeast area
  • Must have over 5 years experience calling on the RIA’s, Family Offices and/or the mid-market institutional space – must bring strong relationships in one or all of these areas of distribution
  • Must have a thorough understanding of this distribution channel and how it works
  • Must bring a strong presence and stature to work with these more sophisticated clients
  • Series 7 and 63 licensing –CFP, CIMAor other higher designation would be a plus
  • Must have a good understanding how to run a business and the ability to manage a large territory
  • Must be self-motivated and have the ability to work in an entrepreneurial environment
  • Must bring a strong understanding of the capital markets
  • Someone who carries themselves in a professional manner and is a creative thinker
  • Someone who has strong presentation skills
  • A team player who works hard and has a strong code of ethics

Compensation

  • Base of $125,000 (somewhat flexible on compensation package depending on the candidate)
  • Commissions are 20% of revenue on new assets, 10% of revenue on second year retained assets and a 3% trail on retained assets thereafter

Management

  • Jamie Schachtel is the National Sales Managerand currently has 4 reporting into him in this channel