Principal Street Partners, LLC

CRD#285485
Investment Advisor Firm

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Learn more about Principal Street Partners, LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Principal Street Partners, LLC operates as a financial advisory company headquartered in Memphis, Tennessee. The firm has $2.8 billion in assets under management throughout 99 accounts, making it one of the biggest financial advisory firms in the United States by assets under management (AUM). The company has a small team, including 7 financial advisors. Principal Street Partners, LLC does not act as a registered broker-dealer, signifying that the firm cannot buy and sell securities for its own accounts as well as its clients' and instead must go through a broker-dealer company to do so. Securities are tradable fiscal assets like options, stocks and bonds.

    Principal Street Partners, LLC manages 95 of its client assets in a discretionary manner. Discretionary management means that an investment advisor has the discretion to make transaction decisions without requiring client consent. It also has four non-discretionary accounts with a total of $1.2 billion in assets. The company oversees about $28.1 million for each customer account. The typical advisor at Principal Street Partners, LLC administers about 14 client accounts, making it one of the more personalized firms in the country.

    Principal Street Partners, LLC's main office is located at 949 Shady Grove Rd South, Memphis, Tennessee 38120. It is registered to serve customers throughout a few states, including California, Idaho, Massachusetts, New Hampshire, New Jersey, New York and Tennessee.

    Assets Under Management

    $2.8 billion

    Number of Advisors

    7

    Disclosures

    No

    Office Location

    949 Shady Grove Rd South
    Memphis, TN 38120

    Principal Street Partners, LLC by the Numbers

    Total Assets Under Management

    $2.8 billion

    National Average: $8.6 billion
    Total Number of Employees

    13

    National Average: 64
    Total Number of Accounts

    99

    National Average: 375,227
    Average Account Size

    $28.1 million

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial management largely depend on which services the firm provides the client. However, fee types charged by the company most likely consist of some 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 provided by the firm.

    Available

    • Offered by 69% 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 26% 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 21% 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 1% 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 0% 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 32% 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 10% 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 provides services to high net worth investors, investment companies, pooled investment vehicles and other investment advisers. Out of its 99 accounts, Principal Street Partners, LLC's biggest client group by number of accounts is high net worth investors, but it also manages money for 86 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person 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 customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 94.51%
    • Other Individuals - 0%
    • Corporations - 5.49%
    • 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

    Principal Street Partners, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Principal Street Partners, LLC

    Eric Sellinger
    Englewood, NJ
    Morgan Sanders
    Memphis, TN
    Everett Price
    Memphis, TN
    James West
    Memphis, TN
    David Weiner
    Englewood, NJ
    John Edwards
    Pocatello, ID
    Christopher Prest
    Memphis, TN

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