Karsten Financial Services, LP (Fort Worth)

Name: Karsten Financial Services, LP
Address: 3526 West Vickery Blvd, Fort Worth, TX, 76107
Telephone: 817-295-7400

Karsten Financial Services, LP is a large advisory firm based in Fort Worth. It manages $413.8 million of regulatory assets for 1,915 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Arizona, Arkansas, California, and 7 other states.

Karsten Financial Services provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Karsten Financial Services: assets under management

The assets under management (AUM) of Karsten Financial Services, LP is $413.8 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 429% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $413.8 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $216.09 thousand each.

Karsten Financial Services has custody of $188.69 million in cash and securities for 25 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 47% of the total AUM. The second-largest asset type is investment and business development companies, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Karsten Financial Services, LP for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Thomas Arthur Karsten serves?

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 Thomas Arthur Karsten is high net worth individuals with 101 clients and $224.69 million of assets under management. Among the 9 most similar advisory firms, Karsten Financial Services has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $413.8 million for 846 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.

Karsten Financial Services doesn't advise any private funds.

Careers at Karsten Financial Services, LP

The company employs 19 people that are either part- or full-time employees. 53 percent of the employees work as investment advisers or researchers. 10 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.

Thomas Arthur Karsten has been acting as President since 1 Dec 1995. Jeffrey Charles Paladini joined the executive team most recently as the Managing Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Arthur Karsten	President/chief compliance officer/managing member	1 Dec 1995	75% - 100%	2305465
Jeffrey Charles Paladini	Managing partner	1 Jul 2009	Other	4341198

Based in Fort Worth

The principal office where Karsten Financial Services, LP performs its advisory services is located at 3526 West Vickery Blvd, Fort Worth, TX 76107, which is also the mailing address of the firm. An additional office of the firm is in Louisville, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 817-295-7400 or by fax 817-295-7488. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at karstenfinancial.com.