First Manhattan Co.
First Manhattan Co. is a privately held investment advisory and wealth planning firm founded in 1964 that manages $34–36 billion for high-net-worth individuals and families through separately managed portfolios, wealth planning, and alternatives, operated via SEC-registered investment adviser and FINRA-registered broker-dealer subsidiaries.
- Company typePrivate
- Founded1964
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What First Manhattan Co. does
First Manhattan Co. is a privately held, independently owned investment advisory and wealth planning firm founded in 1964 by David "Sandy" Gottesman and headquartered in New York City. The firm serves high-net-worth individuals and families, with a secondary institutional segment, through three core product lines: separately managed portfolios of individual stocks and bonds driven by in-house proprietary research; 360-degree wealth planning covering estate planning, trust administration, retirement, and charitable giving; and alternative investment strategies. Operating through wholly owned subsidiaries First Manhattan Co. LLC (SEC-registered investment adviser) and First Manhattan Securities LLC (FINRA-registered broker-dealer, SIPC member), the firm generates revenue primarily through recurring investment advisory fees on fee-paying assets, supplemented by transaction-based brokerage commissions and professional-services wealth planning fees. The firm manages $34–36 billion in fee-paying assets as of 2024–2026 with approximately 120 employees and offices in New York, Greenwich, and Jackson.
The firm's technology foundation centers on a modernized client experience stack built on Unqork Enterprise App Cloud, with Snowflake as the centralized data warehouse aggregating custodian, CRM, and portfolio data, Azure B2C for authentication, and Equifax for KYC/AML orchestration. Distribution is exclusively direct and relationship-based — no marketplace, reseller, or third-party channels — relying on referrals, the Gottesman/Buffett heritage, and selective acquisition of independent advisors (Beddow Capital Management, Roanoke Asset Management, Grand Jean Capital Management) to grow AUM. The firm has remained family-controlled since founding and is now led by CEO Zachary Wydra and Executive Chairman Robert Gottesman.
First Manhattan Co. firmographics
Firmographics- Name
- First Manhattan Co.
- Legal name
- FMC Group Holdings LP
- Website
- https://firstmanhattan.com
- Company type
- Private
- Founded year
- 1964
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- First Manhattan Co. is a privately held investment advisory and wealth planning firm founded in 1964 that manages $34–36 billion for high-net-worth individuals and families through separately managed portfolios, wealth planning, and alternatives, operated via SEC-registered investment adviser and FINRA-registered broker-dealer subsidiaries.
- Ownership category
- akta.pro rank
First Manhattan Co. industry classification
Industry- Product category
- Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Private Client/High-Net-Worth Advisory (FSAEAAAN)
Keywords
Where First Manhattan Co. is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
First Manhattan Co. business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Investment Advisory Fees: Investment advisory fees charged to accounts advised by First Manhattan Co. LLC on a discretionary or nondiscretionary basis, as disclosed in Form ADV.
- Brokerage Commissions: Brokerage commissions charged to standalone brokerage accounts through First Manhattan Securities LLC, a registered broker-dealer. Commission schedule applies to nondiscretionary brokerage accounts not subject to investment advisory relationship.
- Wealth Planning Services: Fees for comprehensive wealth planning services including 360-degree financial views, estate planning, trust administration, retirement planning, and charitable giving strategies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standalone brokerage accounts with commission-based pricing |
| Subscription | Annual | Discretionary and nondiscretionary advisory accounts |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels8 records
First Manhattan Co. product offering
Product offeringCore offering
First Manhattan Co. is an investment advisory and wealth planning firm that builds separately managed portfolios of individual stocks and bonds for high-net-worth individuals and families. The firm also provides comprehensive 360-degree wealth planning covering estate planning, trust administration, retirement planning, tax planning, and charitable giving strategies, supported by in-house proprietary research spanning all market sectors.
Differentiator
Problem solved
Functional benefit
Brands
- First Manhattan Excelsior ETFs: Exchange-traded funds offered by First Manhattan through fmexcelsioretfs.com
Products and services
- Separately Managed Portfolios Customized investment portfolios built with individual stocks and bonds, managed with a long-term investment approach driven by in-house proprietary research. Designed for high-net-worth clients and institutions seeking time-tested, value-added portfolio management.
- Wealth Planning Comprehensive 360-degree wealth planning service addressing trust and estate planning, retirement planning, tax planning, and intergenerational wealth transfer for wealthy individuals and families.
- Alternative Investment Strategies Alternative investment strategies offered alongside traditional portfolios to complement core holdings and provide diversification across additional asset classes for high-net-worth clients.
- First Manhattan Client Portal Digital client interface providing on-demand account information, portfolio data, interactive charting, secure messaging with advisors, document access, and First Manhattan insights and communications for advisory clients.
- First Manhattan Excelsior ETFs Exchange-traded fund product line offered by First Manhattan through the dedicated fmexcelsioretfs.com website, providing investors with access to First Manhattan-managed ETF strategies.
- Brokerage Services Brokerage services provided through First Manhattan Securities LLC, a wholly owned registered broker-dealer subsidiary, with commissions charged per a published schedule on standalone brokerage accounts not subject to an investment advisory relationship.
Quantifiable outcome
- Over $34 billion in fee-paying assets managed as of 2024
- +2 more outcomes
Companies that use First Manhattan Co.
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
First Manhattan Co. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature2 records
First Manhattan Co. partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Beddow Capital Management / Edward BeddowcoreBeddow Capital Management, a nearly 40-year-old Wyoming-based investment practice with over $300 million in client assets, joined First Manhattan. Founder Edward Beddow joined as Senior Managing Director and Portfolio Manager, continuing to serve clients from Jackson, Wyoming. The integration reflects First Manhattan's strategy of selectively adding experienced investors who align with its long-term, research-driven approach.
- Adam YalecoreAdam Yale rejoined First Manhattan as Portfolio Manager, returning to where he began his career more than 25 years ago. Previously Partner and Portfolio Manager at Lawson Kroeker Investment Management in Omaha, and spent over 16 years at Red Cedar Capital. His return aligns with First Manhattan's long-standing ties to Omaha through founder David 'Sandy' Gottesman's friendship with Warren Buffett.
- UnqorkcoreUnqork Enterprise App Cloud selected as the platform for modernizing, digitizing, and automating client and advisor experiences. Implemented end-to-end client onboarding and account opening solution as well as redesigned client portal. Unqork serves as integration and orchestration layer connecting with legacy systems, third-party software, Azure B2C authentication, and Snowflake data warehouse.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
First Manhattan Co. competitors and assessment
Company assessmentDirect peers
- Bessemer Trust: Privately held, family-office-rooted wealth and investment advisory firm serving HNW and ultra-HNW families with active portfolio management and comprehensive wealth planning. Direct comparable in ownership structure, client segment, and product mix.
- Glenmede: Independent, privately held investment and wealth management firm founded by the Pew family, serving HNW families, foundations, and endowments with active management and multi-generational planning. Direct comparable in independent-ownership model and HNW focus.
- Geneva Capital Group: Independent, employee-owned RIA serving HNW individuals and families with active equity, fixed income, and alternative investment strategies. Comparable as a similarly-sized independent advisor with active management emphasis.
- Brown Brothers Harriman: Privately held, partnership-owned bank and wealth manager providing investment management, private banking, and wealth planning to HNW families. Comparable as a partnership-owned competitor with active management and integrated wealth services.
- Rockefeller Capital Management: Privately held wealth and investment advisory firm serving ultra-HNW and HNW families with separately managed portfolios, alternative investments, and wealth planning. Direct peer in HNW segment, active management, and family-legacy brand positioning.
Broad incumbents
- J.P. Morgan Private Bank: Global private bank serving ultra-HNW and HNW clients with investment management, lending, and wealth planning. Competes for the same HNW households but as part of a much larger, multi-product institution.
- CIBC Private Wealth: Large-scale private wealth manager (part of CIBC) serving HNW and ultra-HNW families with investment advisory, wealth planning, and private banking. Comparable HNW segment and integrated offering, though operating as part of a broader banking group.
- Goldman Sachs Private Wealth Management: Private wealth division of Goldman Sachs serving ultra-HNW families with bespoke investment solutions, alternatives access, and wealth planning. Comparable HNW/UHNW segment and product mix, with vastly greater scale and brand reach.
- Pictet Group: Swiss private bank and wealth manager with a strong HNW and ultra-HNW franchise, offering discretionary management, wealth planning, and alternative investments. Comparable HNW focus and active management orientation, though international and larger in scale.
Emerging players
- Corient: Fast-growing ultra-HNW-focused multi-family office and RIA built through aggressive advisor recruitment and acquisitions. Comparable business model and target client, with a contrasting PE-backed growth playbook.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
First Manhattan Co. social profiles
Digital presenceFirst Manhattan Co. compliance and trust
Trust signalCompliance3 records
First Manhattan Co. financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Manhattan Co. leadership team
Management profileNumber of profiles
Profiles12 records
First Manhattan Co. subsidiaries and ownership
Company hierarchySubsidiaries2 records
First Manhattan Co. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Manhattan Co. M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Manhattan Co.
What does First Manhattan Co. do?
First Manhattan Co. is an investment advisory and wealth planning firm that builds separately managed portfolios of individual stocks and bonds for high-net-worth individuals and families. The firm also provides comprehensive 360-degree wealth planning covering estate planning, trust administration, retirement planning, tax planning, and charitable giving strategies, supported by in-house proprietary research spanning all market sectors.
Is First Manhattan Co. a public or private company?
First Manhattan Co. is a private company. It is classified as family owned and is currently operating.
When was First Manhattan Co. founded?
First Manhattan Co. was founded in 1964. It employs 101 to 250 people.
Where is First Manhattan Co. based?
First Manhattan Co. is headquartered in New York, United States, in the North America region.
How does First Manhattan Co. make money?
Three revenue lines are on record. Investment Advisory Fees are the primary driver. The others are brokerage Commissions and wealth Planning Services.
Who are First Manhattan Co.'s main competitors?
Direct peers on record are Bessemer Trust, Glenmede, Geneva Capital Group, Brown Brothers Harriman and Rockefeller Capital Management. Broad incumbents are J.P. Morgan Private Bank, CIBC Private Wealth, Goldman Sachs Private Wealth Management and Pictet Group. Corient is listed as an emerging player.
Does First Manhattan Co. have an API?
No public API is recorded for First Manhattan Co..
What industry is First Manhattan Co. in?
First Manhattan Co.'s product category is Wealth Management. Its primary akta.pro industry code is FSAEAAAN, Private Client/High-Net-Worth Advisory. Its NAICS code is 523940 and its SIC code is 6282.