Parallel Advisors, LLC is a large advisory firm based in San Francisco. It manages $2.39 billion of regulatory assets for 6,575 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.
Parallel Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 1,500 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Parallel Advisors, LLC is $2.39 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 6857% since the beginning of its operation, and $1.27 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Parallel Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Parallel Advisors is high net worth individuals with 510 clients and $1.61 billion of assets under management. Among the 9 most similar advisory firms, Parallel Advisors has the 3rd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $2.39 billion for 2,050 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Parallel Advisors doesn't advise any private funds.
The company employs 55 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 31 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.
Jordan Michael Lawrence has served as the Chief Investment Officer since 1 Feb 2017. Richard Allen Ashburn joined the executive team most recently as the Principal.
The principal office where Parallel Advisors, LLC performs its advisory services is located at 150 Spear Street, Suite 950, San Francisco, CA 94105, which is also the mailing address of the firm. An additional office of the firm is in Dayton, OH. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 866-627-6984 or by fax 415.520.9659. The normal business hours are 8am to 5pm on Monday - Friday. You can find more information about the New York firm at paralleladvisors.com and its LinkedIn profile.