Palo Alto Wealth Advisors, LLC (Palo Alto)

Name: Palo Alto Wealth Advisors, LLC
Address: 715 Colorado Avenue, Palo Alto, CA, 94303
Telephone: (650) 656-9800

Palo Alto Wealth Advisors, LLC is a large advisory firm based in Palo Alto. It manages $172.07 million of regulatory assets for 350 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdiction of California.

Palo Alto Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Palo Alto Wealth Advisors: assets under management

The assets under management (AUM) of Palo Alto Wealth Advisors, LLC is $172.07 million. The firm's AUM has grown by 48% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $133 million in discretionary accounts and $39.07 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $437.49 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $849.38 thousand.

Palo Alto Wealth Advisors has custody of $1.25 million in cash and securities for 17 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 51% of the total AUM. The second-largest asset type is exchange traded securities, which make up 35% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Palo Alto Wealth Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Palo Alto Wealth Advisors serves?

The only and largest group of clients of Palo Alto Wealth Advisors is high net worth individuals with 76 clients and $172.07 million of assets under management. Among the 7 most similar advisory firms, Palo Alto Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $172.07 million for 76 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.

Palo Alto Wealth Advisors doesn't advise any private funds.

Careers at Palo Alto Wealth Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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
Ryan Kenneth Schmidt	Principal and chief compliance officer	1 Sep 2016	75% - 100%	4024403
Nathan Thomas Blair	Partner	1 Feb 2018	50% - 75%	3130445

Based in Palo Alto

The principal office where Palo Alto Wealth Advisors, LLC performs its advisory services is located at 715 Colorado Avenue, Palo Alto, CA 94303, 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 (650) 656-9800. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at paloaltowealth.com.