Covestor Ltd (London)


Covestor Ltd is an adviser based in London. It manages $83.32 million of regulatory assets for 564 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Colorado, and 22 other states.

Covestor provides portfolio management for individuals and small businesses and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Covestor: assets under management

The assets under management (AUM) of Covestor Ltd is $83.32 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 39200% since the beginning of its operation, and $5.12 million of the total AUM is attributable to clients outside of the United States.

The firm manages $83.32 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $147.72 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 91% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 9% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Covestor Ltd for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Richard Kevoru Tahta serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Richard Kevoru Tahta is high net worth individuals with 38 clients and $34.63 million of assets under management. Among the 5 most similar advisory firms, Covestor has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $83.32 million for 508 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 19% of the firm’s clients are foreign persons or businesses.

Covestor doesn't advise any private funds.

Careers at Covestor Ltd

The company employs 18 people that are either part- or full-time employees. 39 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives 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.

Richard Kevoru Tahta has been acting as President since 1 Jun 2006. Sanjoy Ghosh has served as the Chief Investment Officer since 1 May 2013 and Asheesh None Advani is the Chief Executive Officer of Covestor Ltd family office. Ana Maria Ignat joined the executive team most recently as the General Counsel & Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Richard Kevoru Tahta Chairman/cco 1 Jun 2006 Other 1761076
Perry Rael Blacher President 1 Jun 2006 Other 5532941
Simon Ivor Veingard Vice president of operations 1 Jun 2006 Other 5533150
Amit Nmn Goyal Chief investment officer 1 Jun 2006 Other 5597146
Inc. Covestor Owner 1 Mar 2008 75% - 100% 26-2202580
Anne Bidwell Dewey Chief compliance officer 1 Jun 2008 Other 5597184
Bamal Harivallabh Shah Chief technology officer 1 Sep 2008 Other 6287399
Perry Rael Blacher Chief executive officer 1 Jan 2010 Other 5532941
Marc Bivona Chief marketing officer 1 Mar 2010 Other 5706365
Raphael Mennicken Chief investment officer 1 Jul 2010 Other 5827850
Asheesh None Advani Chief executive officer 1 Jan 2011 Other 5966445
Asheesh None Advani Chief executive officer 1 Jul 2011 Other 5966445
Asheesh Advani Chief executive officer 1 Jul 2011 Other 5966445
Antoine Maurice Devine General counsel & chief compliance officer 1 Oct 2011 Other 1337015
Thomas Henry Dorsky Chief operations officer/aml officer 1 Mar 2012 Other 2448232
Sanjoy Ghosh Chief investment officer 1 May 2013 Other 6230385
Steven Scott Holstein Chief marketing officer 1 Dec 2013 Other 1207536
Ana Maria Ignat General counsel & chief compliance officer 1 Nov 2015 Other 6346510

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
Interactive Brokers Group Shareholder 1 Apr 2015 75% - 100% 30-0390693

Based in London

The principal office where Covestor Ltd performs its advisory services is located at Level 20 Heron Tower, London, Ec2 N 4 Ay The mailing address of the firm is 175 Federal Street, Suite 930, Boston, MA 02110 2251. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 44 020 3787 9250 or by fax 44 020 3787 9251. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at covestor.com and its LinkedIn profile.