Our journey
CHANGE PHOTOS here...The research firm that got too curious...
Thomas J. Herzfeld Advisors —
Alternative Investment Advisory Firm. Founded 1984.
Offering a variety of investment strategies to Individuals, Institutions and Investment Professionals— we seek to uncover overlooked segments of the market to capture value in unexpected areas.
Herzfeld Advisors refers to Thomas J. Herzfeld Advisors, Inc., a Registered Investment Advisor (RIA) with the U.S. Securities and Exchange Commission.
our numbers
Measuring
what matters
Since our founding in 1984, we have built trusted relationships with our clients and garnered a reputation for insight in the industry. We focus on uncovering distinctive opportunities and providing innovative strategies to protect capital and deliver quality returns for our investors, with lower correlation to the broader markets.
25
Years of GIPS® Certification
50+
Years of investing experience
$1B+
Assets under management
15
Consecutive years with a 5-star rated strategy
We are a pioneer in the space. We wrote the book on closed-end fund trading and arbitrage; we published the first textbooks and encyclopedias in the industry and issued the most comprehensive monthly research report for nearly three decades. We consulted for large financial institutions and governmental organizations on high-level strategy advice, and advised companies going public. Our seminal research got cited by a Nobel Prize Laureate for Economics. Then someone asked: "What if instead of giving away your insights, you applied them to your client's investments?"
That question changed everything.
What SETS US APART
A time-tested system honed over more than half a century of experience
Expertise
With over 25 years of independent third-party (GIPS®) verification, and 15+ years of Morningstar 5-Star Ratings, we have a proven track record with a honed methodology. Our strategies have outperformed their respective benchmarks in both annualized and cumulative net returns since 2000.*
Insight
We are recognized pioneers in the industry. We created the closed-end fund industry's benchmark (posted weekly in Barron's since 1987), published numerous textbooks, cornered industry research, and have been featured in thousands of interviews . Our deep market insight sets us apart from the competition.
Specialization
We offer customized account management designed for investors looking to diversify across asset classes and gain unique exposure across industries. Our historical performance demonstrates high‑quality, risk‑adjusted returns and lower correlation to broader markets.
Finding Opportunity—our Competitive Advantage
Too many investment advisers rely on a templated approach based on algorithms and formulaic allocations. We take a different path. We identify opportunities that others overlook because our methodology has been crafted and refined continuously over the last four decades. This has allowed us to not only stay ahead of the curve, but also offer a disciplined underwriting process designed to deliver quality results with lower correlations to broader markets.
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A MESSAGE FROM OUR FOUNDER
When we founded the firm in 1984, our intention was to provide the best research possible for those interested in the closed-end fund industry. Investors, regulators, academics and others relied on us to provide reliable information on what was then a little known and even less understood industry. Through hard work and a commitment to comprehensive research, we earned our reputation as closed-end fund experts. After decades in the industry, we transitioned our business and put our research capabilities to work to provide asset management services directly to our investment advisory clients.
Fast forward from those humble beginnings to where we are today, I am proud of our team and the performance we are able to generate across our different closed-end fund strategies. We count among our client base some of the world’s most discerning investors- large pension plans, state treasuries, university endowments, insurance companies, family offices and ultra-high net worth individuals, among others.
Most importantly, I am excited for what is on the horizon. Our firm has established an investment advisory business designed to continue our mission well into the future, providing thoughtful investment expertise to clients seeking exposure to opportunities through closed-end funds.
Thomas J. Herzfeld
Founder
Insights & News
Herzfeld in the News
Making headlines for nearly half a century...
