Veritable, L.P.

Veritable, L.P. is an investment management firm based out of Newtown Square, Pennsylvania. The company was established in 1986 by founder Michael A. Stolper, who is still with the company today acting as its CEO, with just 3 employees. The firm was original known as Stolper & Co. and would grow to have over half a billion in assets under management by 1994. The company would continue to grow and launch more products and services and has expanded to have an additional office located in San Francisco. Veritable currently operates as a subsidiary of AMG Wealth Partners LP, which acquired the company in 2012, and has grown from its inception to now have 83 employees of which 50 are investment professionals. The company conducts its research internally and invests in the public equity and fixed income markets on a global scale. Veritable invests most heavily in the finance sector, which alone makes up almost two thirds of its total asset allocations, and also invests in the energy, information technology, health care, consumer staples, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation. Other than the firm’s top holdings in SPDR S&P 500 ETF Index Depositary Receipts and SPDR S&P MidCap 400 ETF Trust that respectively make up 16% and 13% of its total holdings, none of its holdings make up over 3% of its total. Veritable currently holds over $13.4 billion in total assets under management spread across almost 3,000 accounts, all of which are discretionary accounts except for 160 that make up $424 million of its held assets. The company mainly caters to high net worth individuals, which alone makes up over two thirds of its client base, and also provides services to individuals, pooled investment vehicles, charities, and corporations, among others.