Clearbrook Wins Away IPC Business From Troubled Jesup & Lamont

“We started discussing the opportunity to win that business with IPC in the second and third quarter of 2009,” he said. “Some of the things we heard was that that there wasn’t a symmetry between their customers , their custodian, and themselves as far as the pricing….Sometimes if you’re not happy with a firm–and [Jesup] took some shortcuts in the way they negotiated contracts to get business–it’s a sign of things to come. That’s the lesson learned. For us, everything you read about us or see on our website is about transparency and alignment of interests.”

Headquartered in Boca Raton, Florida, Independent Portfolio Consultants is a privately owned firm of 35 employees with over 600 clients and assets under management totaling $1.5 billion as of December 31, 2008.

“The selection of Clearbrook was based on their extensive knowledge of the managed account industry, their depth of experience in regulatory compliance and risk management, and the opportunity to leverage their institutional asset management research and due diligence,” IPC Director Alan Bush said in a statement. “We have been pleased with the smooth transition of our clients’ assets and the Clearbrook team in completing the transition.”

Headquartered in Princeton, New Jersey, Clearbrook is an independent investment advisory firm whose core business is to provide investment advice and solutions. As of Wednesday, August 11, Clearbrook had more than $30 billion in client assets under advisement and more than $2 billion in client assets held through its broker-dealer subsidiary MAS.