Norris Perne & French LLP (Grand Rapids)

Name: Norris Perne & French LLP
Address: 40 Pearl St., Nw, Suite 300, Grand Rapids, MI, 49503 3026
Telephone: 616-459-3421

Norris Perne & French LLP is a large advisory firm based in Grand Rapids. It manages $1.41 billion of regulatory assets for 1,559 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, Arkansas, California, and 17 other states.

Norris Perne & French provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and consultation services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Norris Perne & French: assets under management

The assets under management (AUM) of Norris Perne & French LLP is $1.41 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 181% since the beginning of its operation, and $309.63 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $1.41 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $903.06 thousand each.

Norris Perne & French has custody of $458.14 million in cash and securities for 268 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 52% of the total AUM. The second-largest asset type is state and local bonds, which make up 28% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Norris Perne & French LLP for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Norris Perne & French 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 Norris Perne & French is high net worth individuals with 382 clients and $1.1 billion of assets under management. Among the 11 most similar advisory firms, Norris Perne & French has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.41 billion for 822 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Norris Perne & French doesn't advise any private funds.

Careers at Norris Perne & French LLP

The company employs 11 people that are either part- or full-time employees. 73 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Ford Charles Perne	Partner	1 Jan 1962	Other	4329988
Charles Roderick French	Partner	1 Jan 1962	Other	4331095
John Dallas Darling	Partner	1 Jan 1985	Other	4331098
Robert Phillip Fairman	Partner	1 Jan 1985	Other	4331105
James Ronald Koop	Partner	1 Jan 1991	Other	4331102
Robert Charles Boylen	Partner	1 Jan 1995	Other	1608814
Elizabeth Greer Lerchen	Partner	1 Jan 2001	Other	4340586
Elizabeth Greer Candler	Partner	1 Jan 2001	Other	4340586
Kurt Marvin Arvidson	Equity partner	1 Jan 2002	25% - 50%	1867408
John Dallas Darling	Equity partner	1 Jan 2006	Other	4331098
Stephen Bruce Wert	Equity partner	1 Dec 2008	Other	2858721
Charles Louis Dutcher	Equity partner, chief compliance officer	1 Jul 2014	25% - 50%	5760827
John Francis Wisentaner	Equity partner	1 Jul 2014	25% - 50%	1125787
Jason Christopher Strockis	Chief compliance officer	1 Jul 2014	Other	6376553

Based in Grand Rapids

The principal office where Norris Perne & French LLP performs its advisory services is located at 40 Pearl St., Nw, Suite 300, Grand Rapids, MI 49503 3026, 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 616-459-3421 or by fax 616-459-5369. The normal business hours are 8:30 am - 5:00pm (est) on Monday - Friday. You can find more information about the New York firm at norrisperne.com.