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Klingman and Associates
Gerard Klingman founded Klingman and Associates in 1995, an independent RIA advising on roughly $6 billion from New York for UHNW families and...
Klingman and Associates
Klingman and Associates launched in 1995 when Gerard Klingman left the wirehouse model to establish an independent advisory practice in New York. The firm structured itself as a fee-only registered investment advisor, breaking from commission-based brokerage to align compensation with client outcomes. Wealth-origin details for the client base remain undisclosed, but the practice targets ultra-high-net-worth individuals, family offices, and institutions seeking multi-generational planning and investment management (per public record). The firm deploys capital across taxable and tax-exempt portfolios, blending strategic asset allocation with manager selection, direct indexing, and alternative investments. Klingman uses a multi-custodial open-architecture platform rather than a proprietary product suite, allowing it to source from global equity, fixed income, private credit, and private equity strategies. Confirmed partnerships include an alliance with Dynasty Financial Partners for back-office and technology infrastructure, a nod to the firm's RIA-only independence (per Dynasty Financial Partners, 2019). The team constructs custom portfolios across US and developed international markets, with secondary exposure to emerging economies. Emigrant Partners, a strategic capital provider to RIAs, acquired a minority equity stake in 2019 to support Klingman's long-term succession plan without requiring the founders to sell to a consolidator (per Emigrant Partners, 2019). The firm operates from its headquarters in New York. In March 2024, Klingman added Kathleen Stewart as Partner and Head of Wealth Management, expanding the leadership team to drive the next phase of organic growth (per the firm's official communications, March 2024). Klingman's structural differentiator is a two-tier governance model: external growth capital from a specialist private equity investor sits alongside full operational independence for the founding team. This hybrid architecture preserves the fiduciary duty and bespoke service of a boutique RIA while providing institutional-grade balance sheet resources for advisor recruitment and technology investment. The Emigrant Partners structure is designed for generational transition without a liquidity-forced sale, a configuration rare among RIAs of this size.
General information
Firm type
RIA
Year founded
1995
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Gerard Klingman
President and Founder
Sector focus
Frequently asked questions
Who runs investment decisions at Klingman and Associates?
Gerard Klingman, the founder and President, leads the firm's investment and strategic direction. Day-to-day portfolio management is handled by the firm's internal investment committee, which operates under a fiduciary standard and uses an open-architecture manager-selection process. In March 2024, Kathleen Stewart joined as Partner and Head of Wealth Management, expanding senior leadership capacity.
How does Klingman and Associates source its investment strategies?
The firm does not manufacture proprietary investment products. Instead, it uses a multi-custodial, open-architecture platform to evaluate and select third-party money managers across public and private markets. This gives the firm flexibility to customize portfolios without being tethered to a single asset manager's offerings.
Is Klingman and Associates a single family office or a wealth management firm?
Klingman and Associates is an independent registered investment advisor, not a single family office. It serves multiple ultra-high-net-worth families, family offices, and institutional clients from its New York headquarters. The firm is structured as a fee-only fiduciary, which distinguishes it from broker-dealers and private banks.
Does Klingman and Associates have outside investors in its management company?
Yes. Emigrant Partners, a strategic capital provider focused on wealth management firms, acquired a minority equity stake in Klingman and Associates in 2019. The investment was structured to support long-term succession planning and growth, allowing the founding team to retain full operating control.
How does the Emigrant Partners stake affect Klingman's independence?
The structure preserves Klingman's operational independence. Emigrant Partners provides growth capital and strategic resources but does not control investment decisions, manager selection, or client service. Klingman continues to operate as a fiduciary, using a multi-custodial platform with no obligation to route assets or business through Emigrant affiliates.
What investment stages or structures does Klingman typically access?
Beyond traditional public-market equities and fixed income, Klingman integrates alternative investments including private equity, private credit, and direct indexing strategies. The firm does not run internal venture funds; instead, it accesses alternatives through curated third-party managers selected by its investment committee.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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