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Who are Louisiana's biggest "in state" money managers
Posted on 8/15/23 at 1:33 pm
Posted on 8/15/23 at 1:33 pm
Virtually 100% of State Pension money is outsourced and most of LSU's. So who are the biggest money managers of money that do it in Louisiana? Insurance companies sometimes do but $1 Billion Amerisafe has a CT firm manage their money I am told. Benson $ managed out of New Orleans? BCBS is done at national level. Pennington?
7
Posted on 8/15/23 at 1:52 pm to secfballfan
Are you asking who has the largest assets under care of Louisiana RIAs or something along those lines, or what is the largest individual account that is managed in state?
Posted on 8/15/23 at 1:57 pm to slackster
Are you asking who has the largest assets under care of Louisiana RIAs or something along those lines, or what is the largest individual account that is managed in state?
The latter, in other words which entity manages the most money from Louisiana and in Louisiana? For example Teachers Pension in LA is almost all managed by NYC firms. I think PAN AM Life in NO manages most of their $2B internally by people in their office. Who else does this?
The latter, in other words which entity manages the most money from Louisiana and in Louisiana? For example Teachers Pension in LA is almost all managed by NYC firms. I think PAN AM Life in NO manages most of their $2B internally by people in their office. Who else does this?
Posted on 8/15/23 at 2:08 pm to secfballfan
LAMP manages north of $2B. It's basically a money market fund, but it's big and manages a ton of municipalities and such.
Posted on 8/15/23 at 2:11 pm to UpstairsComputer
100% of LAMP is managed by American Beacon out of Irving Texas..and the users pay 19.5bps or about double a Vanguard MM fund...FWIW
This post was edited on 8/15/23 at 2:16 pm
Posted on 8/15/23 at 2:41 pm to secfballfan
Nice catch, sorry for the oversight. 
Posted on 8/15/23 at 3:17 pm to secfballfan
Due to various conflicts of interest you probably won’t see a ton of “local” money managers for these entities.
Somewhat related, my guess would be that b1Bank has the most LA deposits as they’re the largest LA-domiciled bank, even though they’re only 6th largest by deposits in the state (JPM, Capital One, Hancock Whitney, Regions, First Horizon are all 2-6.5x bigger in LA).
Somewhat related, my guess would be that b1Bank has the most LA deposits as they’re the largest LA-domiciled bank, even though they’re only 6th largest by deposits in the state (JPM, Capital One, Hancock Whitney, Regions, First Horizon are all 2-6.5x bigger in LA).
Posted on 8/15/23 at 3:40 pm to slackster
The answer used to be Iberia Bank, according to an investment manager over there that I know. But they are no longer Louisiana based since they merged up.
Posted on 8/15/23 at 3:53 pm to LSUFanHouston
The answer used to be Iberia Bank, according to an investment manager over there that I know. But they are no longer Louisiana based since they merged up.
That's the issue- the lack of any significant money being managed locally in LA. Even TAF money is farmed out to local RIA's who send it to Blackrock.
That's the issue- the lack of any significant money being managed locally in LA. Even TAF money is farmed out to local RIA's who send it to Blackrock.
Posted on 8/16/23 at 12:54 am to secfballfan
quote:
Even TAF money is farmed out to local RIA's who send it to Blackrock.
Come on, if we’re going to disqualify a local firm for using blackrock ETFs, we just as soon knock them for buying Apple, a Californian company.
Posted on 8/16/23 at 8:10 am to slackster
It's not ETF's it is active management
Posted on 8/16/23 at 8:13 am to secfballfan
How do you know this?
Posted on 8/16/23 at 9:16 am to slackster
Very few institutional money managers in Louisiana. There are few few firms but the big accounts are all managed under OCIO models by national or regional firms. For a long time BCBS of LA was the largest and the money run by a New Orleans firm but that is no longer the case.
Posted on 8/16/23 at 10:08 am to secfballfan
NewEdge Advisors is likely the largest. The RIA has roughly $20 Billion AUM and growing rapidly.
Posted on 8/16/23 at 10:24 am to juice4lsu
NewEdge Advisors is likely the largest. The RIA has roughly $20 Billion AUM and growing rapidly.
Nope, Pittsburgh based, I know TAF from friend on their board.
Nope, Pittsburgh based, I know TAF from friend on their board.
Posted on 8/16/23 at 11:31 am to secfballfan
Not correct. I work directly with 2 of the 3 founders. The name was changed from Goss Advisors to NewEdge Advisors in a PE deal, but still has the main office on Camp St. in New Orleans and still run by the same founders.
Posted on 8/16/23 at 12:58 pm to juice4lsu
Not correct. I work directly with 2 of the 3 founders. The name was changed from Goss Advisors to NewEdge Advisors in a PE deal, but still has the main office on Camp St. in New Orleans and still run by the same founders.
Thank you did not know this, website says Pittsburgh-are most of the people in MSY?
So I reviewed their form ADV and basically they own dozens of brokers around the country that have 28,000 clients and around $12 billion (avg 400,000k per person)- so the people in MSY appear to be overseers for dozens of firms and are not actively managing money, they are managing firms.
NOT saying they are not a good firm, do not know but they are not institutional asset managers. They have 1 CFA in all of leadership and neither CEO even has an MBA. Again, may be a great firm- but it's retail.
Thank you did not know this, website says Pittsburgh-are most of the people in MSY?
So I reviewed their form ADV and basically they own dozens of brokers around the country that have 28,000 clients and around $12 billion (avg 400,000k per person)- so the people in MSY appear to be overseers for dozens of firms and are not actively managing money, they are managing firms.
NOT saying they are not a good firm, do not know but they are not institutional asset managers. They have 1 CFA in all of leadership and neither CEO even has an MBA. Again, may be a great firm- but it's retail.
This post was edited on 8/16/23 at 1:20 pm
Posted on 8/16/23 at 1:30 pm to secfballfan
Didn't know we were only talking institutional money. And true, brokers from all over the country choose to affiliate with the RIA, but the RIA does the asset management.
Most of the folks who started it are from Baton Rouge and New Orleans. Now that they have grown and many work remotely, they have team members across the country. They have more than one CFA, just not listed on the site.
Most of the folks who started it are from Baton Rouge and New Orleans. Now that they have grown and many work remotely, they have team members across the country. They have more than one CFA, just not listed on the site.
This post was edited on 8/16/23 at 1:31 pm
Posted on 8/16/23 at 1:33 pm to juice4lsu
Didn't know we were only talking institutional money. And true, brokers from all over the country choose to affiliate with the RIA, but the RIA does the asset management.
Most of the folks who started it are from Baton Rouge and New Orleans. Now that they have grown and many work remotely, they have team members across the country. They have more than one CFA, just not listed on the site.
No, your info is VERY helpful did not know of them and they are large for sure.
Most of the folks who started it are from Baton Rouge and New Orleans. Now that they have grown and many work remotely, they have team members across the country. They have more than one CFA, just not listed on the site.
No, your info is VERY helpful did not know of them and they are large for sure.
Posted on 8/16/23 at 2:08 pm to secfballfan
quote:
are not actively managing money, they are managing firms.
They have models that they manage for their firms.
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