Open Invest Co. (San Francisco)

Name: Open Invest Co.
Address: 2 Mint Plaza, San Francisco, CA, 94103
Telephone: 855-466-6545

Open Invest Co. is a multi-state adviser based in San Francisco. It manages $42.05 million of regulatory assets for 396 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Colorado, Connecticut, and 13 other states.

Open Invest provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Open Invest: assets under management

The assets under management (AUM) of Open Invest Co. is $42.05 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 2911% since the beginning of its operation, and $25.7 million of the total AUM is attributable to clients outside of the United States.

The firm manages $42.05 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $106.18 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 99% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Open Invest Co. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Open Invest serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Open Invest is corporations or other businesses with 2 clients and $31.03 million of assets under management. Among the 1 most similar advisory firms, Open Invest has the highest percentage of corporations or other businesses out of all clients.

The amount of regulatory assets under management is $42.05 million for 396 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Open Invest doesn't advise any private funds.

Careers at Open Invest Co.

The company employs 13 people that are either part- or full-time employees. 15 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Y Combinator	Convertible noteholder	1 Jun 2014	Other	171730
Conor M Murray	Chief compliance officer and chief operating officer	1 Apr 2015	25% - 50%	4814829
Phillip Wei	Chief technology officer	1 Apr 2015	25% - 50%	6529294
Andreessen Horowitz	Shareholder	1 Mar 2017	Other	160489
Lp Qed Fund V	Shareholder	1 Jun 2018	Other	83-0555113

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Nigel William Morris	Managing member of the general partner	1 Jun 2018	25% - 50%	6694700

Based in San Francisco

The principal office where Open Invest Co. performs its advisory services is located at 2 Mint Plaza, San Francisco, CA 94103, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 855-466-6545 or by fax 510-263-6240. The normal business hours are 9:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at openinvest.co.