Hollow Brook Wealth Management (“Hollow Brook”) provides comprehensive wealth
management services to individuals, families, and institutions including private foundations and
family entities. Hollow Brook also provides certain clients with consulting services in financial
reporting, bill pay, philanthropy, as well as assistance with financial planning, taxes, legal, and
accounting.
Hollow Brook is an independent employee-owned integrated wealth management organization that
invests client capital in publicly-traded securities, including equities, fixed income securities and
equity type investments that provide exposure to commodities, as well as private fund interests
(including with outside third-party independent managers), and in one-off special situation
investments. The allocation of client assets among such investment classes will vary depending on
the client’s needs, risk tolerance, and personal circumstances. For larger clients with complex
financial situations, Hollow Brook will document and track investment policy requirements.
Although Hollow Brook considers itself as providing one integrated service, the ways in which
Hollow Brook provides this service vary depending on specific client needs and the investment
class in question.
Investments in publicly-traded securities that are managed internally by Hollow Brook are typically
made on a discretionary basis. These assets are managed in a long-only style. Hollow Brook utilizes
a top down macro approach coupled with a research-driven bottom up security selection process.
These parts of clients’ portfolios generally have similar “best ideas” holdings and weightings and
typically consist of 20 to 40 positions. Hollow Brook offers clients a range of choices among
portfolio strategies in relation to discretionary long-only accounts. These choices include a standard
policy portfolio of best ideas as well as a specific mandate of aggressive, moderate, balanced or an
income oriented approach. In some cases, clients may impose reasonable mandates or restrictions
on this part of their account; for example, some Hollow Brook clients may have a customized
portfolio. For example, a given client may have a specific income objective or sector specific focus
(i.e. dividends, interest, energy, etc.), therefore these clients may hold more income-paying
investments or narrower sector weightings than other Hollow Brook clients that allocate assets to
our various strategies.
Investments in private funds and one-off special situation investments are typically made on a non-
discretionary basis. Hollow Brook’s responsibility for making such investment
recommendations
is ongoing and the firm typically assumes responsibility for all aspects of effecting our
recommendations (including due diligence) with the exception of executing investment documents
and finalizing investment funding.
Recommending the allocation of assets to third-party managers is similar to recommending private
funds, but because it does not involve recommending securities or investments we do not typically
count assets allocated to this investment class as part of our regulatory assets under management.
Additional information with respect to Hollow Brook’s advisory services is located below in the
Methods of Analysis, Investment Strategies, and Risk of Loss section.
The aggregate regulatory assets managed by Hollow Brook as of December 31, 2023 were
$1,048,780,026. This figure reflects $486,212,666 in discretionary and $562,567,360 in non-
discretionary regulatory assets under management. Total assets including assets allocated to third
party managers were $1,153,874,832. For certain clients, Hollow Brook provides reporting services
which may include personal property, outside investments, and other real assets (e.g., gold, silver,
etc.), these are not included in our regulatory assets under management or our total assets.
Hollow Brook provides its clients with a broad range of ancillary and additional services.
These services may be provided individually or in combination with Hollow Brook’s investment
advisory services for additional fees as agreed upon with a client:
Record keeping and reporting;
Income tax planning assistance;
Financial education for family members;
Family decision making process;
Assistance with Philanthropic goals
Assistance with Estate planning;
Multigenerational wealth planning;
Coordination of outside professionals
Insurance analysis;
Trustee administration services
Business succession planning
Family office accounting services
In performing these consulting services, Hollow Brook will not be required to verify any
information received from the client or from the client’s other professionals (e.g., attorney,
accountant, etc.) and is expressly authorized to rely on such information provided by the client.
Hollow Brook may recommend the services of other professionals to implement its
recommendations. The client is under no obligation to act upon any of the recommendations made
by Hollow Brook.
Hollow Brook has been in business as a registered investment adviser since January 2008. Philip
Ernst Richter and Alan Lee Bazaar are the principal owners of Hollow Brook.