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Spectrum Asset Management

SEC-registered adviser since 1987Stamford, CTCRD 300463

$18.3B
AUM
74
Clients
See fees
Fee
14
Advisory staff

From Form ADV filed 5 August 2026 · data retrieved 15 October 2026SEC record

Spectrum Asset Management is an investment adviser headquartered in Stamford, Connecticut, and registered with the SEC since 1987. Its clients include investment companies, corporations and other businesses, and pooled investment vehicles. High-net-worth individuals account for 0% of its regulatory assets under management.

Its services include portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions. Fee arrangements include a percentage of assets under management. Principal Global Investors Holding Company (us), LLC owns 75% or more of Spectrum Asset Management, and Mark Lieb is its CEO.

Clients

Spectrum Asset Management serves 74 clients, 50 of them corporations and other businesses. The average client has about $247 million with the firm, and high-net-worth clients hold 0% of its $18.3 billion in assets.

Regulatory assets by client type
  • Investment companies7 clients44%
  • Pooled investment vehicles10 clients24%
  • Insurance companies6 clients3%
  • Corporations and other businesses50 clients30%
  • High-net-worth individuals1 clients0%
Show client breakdown
High-net-worth individuals
Clients
1
Regulatory AUM
$4,524,455
Share
0.0%
Avg. per client
$4.52M
Investment companies
Clients
7
Regulatory AUM
$8,083,367,608
Share
44.2%
Avg. per client
$1.15B
Pooled investment vehicles
Clients
10
Regulatory AUM
$4,307,704,040
Share
23.5%
Avg. per client
$430.8M
Insurance companies
Clients
6
Regulatory AUM
$485,455,288
Share
2.7%
Avg. per client
$80.9M
Corporations and other businesses
Clients
50
Regulatory AUM
$5,415,300,221
Share
29.6%
Avg. per client
$108.3M

Total

Clients
74
Regulatory AUM
$18,296,351,612
Share
100%
Avg. per client
$247.2M

What it does

Spectrum Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets.

Spectrum Asset Management provided financial planning to 0 clients last fiscal year and advises 1 private funds.

76.0% of assets ($13.91B across 51 accounts) are managed with discretion; $4.38B across 23 accounts are not. $5.27B sits in a wrap fee program the firm both sponsors and manages. 20% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Bonds97%
    • Investment grade corporate bonds93%
    • High-yield corporate bonds4%
  • Cash3%

Custodians

Spectrum Asset Management’s client accounts are held mainly at Bank of America Merrill Lynch, with 9% of managed assets, and Morgan Stanley, with 6%. Spectrum Asset Management has custody of $33.3M for 1 clients.

Managed account assets by custodian
  • Bank of America Merrill LynchBank of America Merrill Lynch · Pennington, NJ · $1.58B9%
  • Morgan StanleyMorgan Stanley · Purchase, NY · $1.10B6%
  • Universal - Investment Gesellschaft MBHUniversal - Investment Gesellschaft MBH · Frankfurt/Main · $696.6M4%
  • All other custodians$14.91B82%

Ownership and leadership

Principal Global Investors Holding Company (us), LLC owns 75% or more of Spectrum Asset Management, and Mark Lieb is its CEO.

Who owns the firm
Spectrum Asset Management, Inc.· the adviser

  • Principal Global Investors Holding Company (us), LLC

    Control person · since May 2017

    Owns 75% or more of Spectrum Asset Management, Inc.

Leadership

  • Mark Lieb
    President & Chief Executive Officer
  • Jean Orlando
    Financial Operations Principal & Chief Financial Officer
  • Matthew Byer
    Executive Director & Chief Operating Officer
  • Joseph Hanczor
    Managing Director & Chief Compliance Officer
  • Lewis Jacoby
    Executive Director & Chief Investment Officer

Staff

  • 27 employees
  • 14 in advisory functions
  • 3 state-registered reps
  • 20 broker-dealer reps
  • 1 soliciting firm

Reported holdings

Spectrum Asset Management’s reported 13F holdings total $69.6M across 4 positions, and the ten largest make up 100.0% of it.

$69.6M
Reported 13F value
4
Positions
100.0%
In the 10 largest
+39.1%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Invesco Exch Traded FD TR II · Pfd ETF77.1%
  2. Invesco Exch Traded FD TR II · Var Rate Pfd15.6%
  3. Wells Fargo & CO · Perp Pfd Cnv A5.7%
  4. Bank OF Amer Corp. · 7.25%cnv Pfd L1.6%

Together, the ten largest are 100.0% of reported value.

The 4 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 4 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $69.6M is not its $18.30B in regulatory assets and does not represent any individual client's portfolio.

Fees

Spectrum Asset Management is paid through a percentage of assets under management.

Spectrum Asset Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Spectrum Asset Management has 3 offices (2 private residences, listed without an address), with 2 listed addresses across 2 states.

Listed office addresses by state

Connecticut · 1 listed address

  • 2 High Ridge Park, StamfordHQ

Other business names

Spectrum Asset Management has reported 1 other business name to the SEC.

  • Principal Global Investors Dba Principal Asset Management

Registration details

Legal name
Spectrum Asset Management, Inc.
Headquarters
2 High Ridge Park, Stamford, CT 06905
Phone
203-322-0189
Website
Not reported
SEC file
801-30405
Structure
Connecticut corporation
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Spectrum Asset Management have?

Spectrum Asset Management has 74 clients and manages $18.3 billion for them, as of August 2026. They include 50 corporations and other businesses, 10 pooled investment vehicles and 7 investment companies.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 August 2026

What services does Spectrum Asset Management offer?

Spectrum Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Spectrum Asset Management use?

Spectrum Asset Management’s separately managed account assets are held at Bank of America Merrill Lynch (Pennington, NJ), with $1,582,978,437, Morgan Stanley (Purchase, NY), with $1,103,423,557 and Universal - Investment Gesellschaft MBH (Frankfurt/Main), with $696,566,263. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 August 2026

How many financial advisors does Spectrum Asset Management have?

Spectrum Asset Management has 3 investment adviser representatives registered with state securities authorities, out of 27 employees, and 14 perform investment advisory functions. 20 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Spectrum Asset Management invest in?

At the end of its last fiscal year, Spectrum Asset Management’s separately managed accounts held 93% investment grade corporate bonds, 4% high-yield corporate bonds and 3% cash and equivalents. It advises 1 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Spectrum Asset Management?

Spectrum Asset Management is owned through a chain of holding companies by Principal Financial Group Inc. Its direct owner is Principal Global Investors Holding Company (us), LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 5 August 2026

How does Spectrum Asset Management get paid?

Spectrum Asset Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 5 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 300463.
  3. Form 13F-HR, filed 4 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Spectrum Asset Management, Inc. and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.