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Credit Suisse Asset Management, LLC Review

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Credit Suisse Asset Management, LLC

Credit Suisse Asset Management, LLC

Credit Suisse Asset Management, LLC is a fee-based advisor in New York City. The firm works with high-net-worth individuals and institutional clients. There are around 100 advisors on staff, and the firm has more than $71.47 billion in assets under management. 

Credit Suisse Asset Management, LLC  Background

Credit Suisse has been in business since 1999. It is an indirect wholly-owned subsidiary of Credit Suisse AG, a publicly-owned foreign bank holding company based in Switzerland.

What Types of Clients Does Credit Suisse Asset Management, LLC  Accept?

All of the individual clients Credit Suisse has are high-net-worth. Institutional clients include banking or thrift institutions, investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, state or municipal government entities, other investment advisors, insurance companies, sovereign wealth funds/foreign official institutions and corporations. 

Credit Suisse Asset Management, LLC  Minimum Account Sizes

The firm does not list a specific minimum account size but says it may impose one. Given that all of the individual clients are classified as high-net-worth, it’s likely that a fairly high minimum is required, likely at least $1 million. 

Services Offered by Credit Suisse Asset Management, LLC 

The following services are offered at Credit Suisse:

  • Discretionary and non-discretionary asset management
  • Investment advice
  • Various investment strategies

Investment Philosophy

The following investment strategies are available at Credit Suisse:

  • Quantitative Investment Strategies (QIS)
  • Credit Investments Group
  • Commodities
  • Quantitative Trading
  • Insurance Linked Strategies
  • Mexico (investment advisory to two publicly-offered registered investment trusts under Mexican law and focused on credit opportunities in Mexico)
  • NEXT (growth equity)
  • Legacy strategies

Fees Under Credit Suisse Asset Management, LLC 

Fees at Credit Suisse are generally based on a percentage of assets under management. The fee schedules depend on the strategy used. For QIS, the management fee will generally be between 0.50% and 1.50%.

For CIG strategies, the fees range from 0.20% to 0.75%.For commodities strategies it ranges from 0.40% to 0.80%. For full schedules for all strategies, see the firm’s brochure. 

Legacy strategies fees range from 0.39% to 1.50%. The quantitative trading strategy has an annual management fee of 0.75% plus operating cost pass through.

Performance-based fees may also apply. Some advisors at the firm may also earn commissions for being broker-dealer, a conflict of interest explained below.

What to Watch Out For

Some advisors at the firm may earn commissions for selling securities as a broker-dealer. This presents a potential conflict of interest, as they may have incentive to sell a security or product to a client that has a higher commission but is not the best choice. When acting as an advisor, though, all must act in the best interest of the client.

The firm does have disclosures on its record, explained below.

Disclosures

There are a number of disclosures at this firm. For example, in 2011 it had to pay $2.5 million in penalties for failing to disclose material facts about the Class V Funding III Collateralized Debt Obligation, which was offered to investors in February 2007. 

Where Is Credit Suisse Asset Management, LLC  Located?

The firm’s headquarters are at Eleven Madison Avenue New York, New York 10010. The parent company is based in Switzerland.

Opening an Account With Credit Suisse Asset Management, LLC 

If you are interested in working with Credit Suisse, you can call the sales desk at (800) 577-2321.

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How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research