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Neuberger Berman Investment Advisers Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Neuberger Berman Investment Advisers is a fee-based financial advisor firm. It employs a large team of financial advisors who work with individual investors and many different types of institutional investors. Neuberger Berman is an international firm headquartered in New York City, and its services center around asset and investment management.

Neuberger Berman Investment Advisers Background

Neuberger Berman Investment Advisers can trace its roots back to 1939, when it was called Neuberger & Berman. The firm has gone through a few name changes over the years. Its last name change was in in 2016, when the firm changed its name from Neuberger Berman Fixed Income, LLC to its current name. The firm is primarily owned by the holding company Neuberger Berman Group.

While it’s unclear exactly how many advisors hold certifications at Neuberger Berman, the firm does offer certified financial planners (CFPs) to all of its wealth analysis service clients.

Neuberger Berman Investment Advisers Client Types and Minimum Account Sizes

Neuberger Berman Investment Advisers is a massive firm, and it serves a wide range of clients. The firm works with individuals, high-net-worth individuals, banks, investment companies, businesses, pension plans, profit-sharing plans, charitable organizations, foundations, endowment funds, government entities, investment advisors, insurance companies, trusts and federal agencies.

Your required minimum investment at Neuberger Berman Investment Advisers will depend on the type of service or portfolio model you select. The firm’s account minimums are as follows:

  • Private asset management: $1 million
  • PWM Advisory Program: $5 million
  • Guided Portfolio Solutions (GPS) Program: $100,000 initial investment, then $5,000 for subsequent investments
  • Wrap accounts
    • Fixed income: $250,000
    • Equity: $100,000
  • Sub-advised accounts: Varies depending on the intermediary advisor
  • Consulting and non-discretionary services: None
  • Institutional accounts
    • Equity
      • Equity Income, Mid Cap Intrinsic Value, REIT, Small Cap Intrinsic Value, Sustainable Equity,
        Large Cap Core, All Cap Core, All Cap Intrinsic Value and Global REIT mandate: $10 million
      • Small cap mandate: $100 million
      • China Equity mandate: $50 million
    • Fixed-income
      • Municipal – Intermediate / Long Duration, Municipal – Cash / Short Duration, Diversified
        Currency, CLO Equity and Diversified Currency High Alpha mandates: $25 million
      • U.S. High Yield, Short Duration High Yield, Senior Floating Rate Loans, Global High Yield,
        Global High Yield Sustainable, European High Yield, Crossover Credit, Strategic Multi-
        Sector Fixed Income, Global Opportunistic Bond, Multi-Sector Credit, Global Bond Absolute
        Return, Emerging Market Debt – Asian Bond, Emerging Market Debt—Hard Currency,
        Emerging Market Debt—Local Currency, Emerging Market Debt—Corporate, and
        Emerging Market Debt—Short Duration mandatess: $100 million
      • Emerging market debt - blend mandate: $150 million
    • Alternatives and multi-asset class
      • S&P 500 PutWrite (OTM), Global PutWrite (OTM), and Emerging Markets PutWrite (ATM),
        Russell 2000 Strangle, S&P 500 Strangle, and S&P 500 Iron Condor mandates: $10 million
      • S&P 500 (ATM), U.S. (ATM) and global (ATM) PutWrite mandates: $25 million
      • Commodities, multi-asset class growth and multi-asset class income mandates: $50 million
      • Risk premia 5% and 10% volatility; Dynamic Beta Navigator; multi-asset class global absolute and relative return; multi-style premia and velocity mandates: $100 million

Services Offered By Neuberger Berman Investment Advisers

Neuberger Berman Investment Advisers’ client base includes a wide mix of individuals and institutions, and its service offerings reflect that. Below you’ll find the firm’s full list of offerings:

  • Private asset management (separately managed accounts)
  • Wealth analysis
    • General financial planning education
      • Investments
      • Taxes
      • Estates
      • Trusts
      • Insurance
    • Investment goal determination
  • Sub-advisory services
    • Available for open-end investment companies, non-U.S. registered funds, separate accounts and private funds
  • Proprietary registered investment companies
    • Securities recommendations, including which to buy/sell and how many to buy
    • Broker/dealer recommendations
  • Consulting services
    • One-time, periodic or ongoing investment policy, security, strategy and manager investment recommendation
    • Written analysis for specific investments
    • Proprietary equity, fixed income and alternative strategies
  • Wrap fee programs
    • Investment management and strategies
    • Custodial services
    • Trade execution

Neuberger Berman Investment Advisers Investment Philosophy

Neuberger Berman Investment Advisers typically uses one of four investment strategies for client accounts. These four strategies typically use the following investments:

  • Fixed-income strategies: exchange-traded funds (ETFs), REITs, option contracts, short sales, over-the-counter securities, municipal/U.S. government securities, CDs, corporate debt securities, convertible bonds, preferred securities and warrants
  • Equity strategies: common stocks, preferred stocks, ETFs, REITs, options, participatory notes, depositary receipts, mutual funds and convertible securities
  • Alternative strategies: combination of equity and fixed-income investments
  • Multi-asset mandates: equity and fixed-income investments with quantitative-based strategic asset allocation models

Although these investments are associated with the specific strategies above, Neuberger Berman also makes an effort to align investment choices with clients’ preferences and needs. So depending on your risk tolerance, time horizon, ultimate financial goals, liquidity needs and any other extenuating circumstances, your portfolio could be comprised of a different mix of investments than what’s listed above.

Fees Under Neuberger Berman Investment Advisers

Neuberger Berman Investment Advisers divides its fees in two ways: by service and by investment type used within this service. In other words, if you’re an institutional client, your fees will be based on the investment strategy used to meet your needs, like core bond, all cap core or global equity. In most cases, fees are charged to client accounts on quarterly schedule.

Neuberger Berman has an extensive fee schedule. For the purpose of this review, we have chosen to list one of the most common fee schedule for individual clients in the table below.

GPS - Total Portfolio Solutions Fees
Portfolio’s Market Value Annual Fee
Less $500,000 1.40%
$500,000 - $1,000,000 1.30%
$1,000,000 - $5,000,000 1.20%
$5,000,000 - $10,000,000 1.10%
Over $10,000,000 1.00%

There are hundreds of different fee schedules available at the firm. They apply to different types of asset levels and strategies. For more information, see the firm's Form ADV. For some of its account services, Neuberger Berman does charge performance-based fees. This applies to separate accounts, private funds, sub-advisory accounts and closed-end fund clients.

What to Watch Out For

Neuberger Berman Investment Advisers lists one disclosure on its Form ADV, and this disclosure is attributed to one of the firm's affiliates, Neuberger Berman BD, LLC. This disclosure states that the advisory affiliate “has been involved in a violation of a self-regulatory organization or commodities exchange's rules.”

Neuberger Berman Investment Advisers is a fee-based firm, which means that the firm and its advisors earn money from sources other than client fees. If an advisor introduces a client to the firm and the client stays on for investment management services, the advisor will receive a sales commission. Additionally, advisors may earn additional compensation from the sale of specific securities.

However, Berman is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC), and is therefore bound by fiduciary duty. This means the firm must act in clients’ best interests at all times.

Opening an Account With Neuberger Berman Investment Advisers

To become a client of Neuberger Berman Investment Advisers, you should get in touch with the branch located closest to you. You can find the phone numbers for the firm’s locations on the contact page on its website.

All information is accurate as of the writing of this article.

Tips for Finding the Right Financial Advisor

  • Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Research, research, research. No other task is more important when looking for a person to manage your entire financial life for you. Check out each firm’s Form ADV to learn everything you can prior to investing your money.

How Long $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 We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.