John C. Tumazos
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client assets under management
$5,000,000
Clients
3
100% high-net worth
Advisors
1
of 2 employees
Firm type
Independent
1 advisor
Fewer clients per advisor generally means more personalized, proactive service. Higher ratios may reflect streamlined models or lower minimums.
Clients per advisor
3
Very LowAverage account size
$1,666,667
About
John Tumazos Very Independent Research, LLC provides subscription-based research to institutional investors, including long-only funds, hedge funds and family offices, focusing on metals, forest products and other resource industries. The firm does not manage client assets and sells written reports and analyst access under paid subscriptions, with clients able to pay in hard dollars or via soft-dollar commission arrangements.
The firm’s work is primarily bottoms-up, fundamental company and commodity analysis, producing roughly 20 monthly research reports that cover about 40–45 stocks across aluminum, steel, gold, copper, fertilizer and related sectors. It uses an Overweight/Neutral/Underweight rating framework tied to relative performance versus the S&P 500, with an intended analytic horizon of up to 24 months and an emphasis on valuation of future cash flows rather than near-term trading signals.
What is distinctive is the subscription and periodical model combined with acceptance of soft-dollar payments, an arrangement that is uncommon among similar firms; the firm also emphasizes frequent domestic and international company visits as part of its research process. The firm has separated compensated advisory work into affiliated entities to limit conflicts and, unlike most peers, does not offer portfolio management or services to individual (non‑institutional) clients.
Client services
Newsletters or periodicals
Expertise
Passive / index investing
Fee options
Basic research service: $25,000/year for one member; additional members $5,000 each; Full research service: $70,000/year for up to five members, $5,000 for each additional member; custom studies priced separately
Account minimum: $25,000 per year Minimum fee: Minimum subscription fee of $25,000 per year
Most active in
John C. Tumazos has reported serving >5 clients in these states in the last 12 months.
Florida
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
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