Pennington Partners & Co., LLC is a large advisory firm based in Bethesda. It manages $707.21 million of regulatory assets for 46 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Louisiana and Maryland.
Pennington Partners & Co. provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Pennington Partners & Co., LLC is $707.21 million. The firm's AUM has grown by 686% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Pennington Partners & Co., LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Pennington Partners & Co. is high net worth individuals with 42 clients and $588.7 million of assets under management. Among the 12 most similar advisory firms, Pennington Partners & Co. has the 4th highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $707.21 million for 46 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.
Pennington Partners & Co. also advises several private funds. Namely, one liquidity fund, one real estate fund, and two private equity funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.
The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. No 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Pennington Partners & Co., LLC performs its advisory services is located at 7920 Norfolk Avenue, Bethesda, MD 20814, 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 202-370-6435 or by fax 202-654-5830. The normal business hours are 9:00 am 5: 00 pm on Monday - Friday. You can find more information about the New York firm at pennington.addepar.com/.