Parnassus LLC

CRD#167146
Investment Advisor Firm

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Overview

Parnassus LLC is an advisory firm headquartered in Stamford, Connecticut. Parnassus LLC administers $4.7 million in assets throughout one client account. It has a small team of one employee who is a financial advisor. Parnassus LLC is not a registered broker-dealer, meaning it cannot buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer company to do so. Securities are tradable fiscal assets like options, bonds and equities.

Parnassus LLC manages all of the company's accounts in a discretionary manner. Discretionary management means that transaction decisions are made by a portfolio manager without requiring the customer's authorization. The advisory firm's typical account size is $4.7 million. An average financial advisor at Parnassus LLC manages around one client account, making it one of the most personalized firms in the country.

The firm's main office is at 96 Cummings Point Road, Stamford, Connecticut 6902. Parnassus LLC is permitted to provide services to investors in the state of Connecticut.

Assets Under Management

$4.7 million

Number of Advisors

1

Disclosures

No

Office Location

96 Cummings Point Road
Stamford, CT 06902

Parnassus LLC by the Numbers

Total Assets Under Management

$4.7 million

National Average: $3.7 billion
Total Number of Employees

1

National Average: 29
Total Number of Accounts

1

National Average: 2,073
Average Account Size

$4.7 million

National Average: $1.8 million

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Fee Structure

Financial advisory fees typically are based on which services are offered. Fees billed by the company can include any combination of the following fee structures: asset-based or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm. It is able to withdraw its expenses directly from customer accounts.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 17% of firms

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

Unavailable

  • Find one of the 35% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 40% of firms that offer this fee type

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company works with high net worth investors, insurance companies and corporations. Parnassus LLC's biggest client group by number of accounts is corporations, but it also manages money for one high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 33.33%
  • Other Individuals - 0%
  • Corporations - 66.67%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Parnassus LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Parnassus LLC

John Rosenberg
Stamford, CT

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This content was compiled from the SEC and FINRA