Penniall & Associates, Inc. (Pasadena)

Name: Penniall & Associates, Inc.
Address: 123 S. Marengo Avenue, Pasadena, CA, 91101
Telephone: 626-795-3062

Penniall & Associates, Inc. is a large advisory firm based in Pasadena. It manages $420.63 million of regulatory assets for 2,272 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 34 other states.

Penniall & Associates provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Penniall & Associates: assets under management

The assets under management (AUM) of Penniall & Associates, Inc. is $420.63 million. The firm's AUM has grown by 56% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $347.77 million in discretionary accounts and $72.86 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $235.62 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $91.53 thousand.

Penniall & Associates has custody of $9.59 million in cash and securities for 20 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 79% of the total AUM. The second-largest asset type is exchange traded securities, which make up 12% of the firm’s portfolio. Investments in other assets form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Penniall & Associates, Inc. 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 William Robert Chetney serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of William Robert Chetney is high net worth individuals with 185 clients and $289.39 million of assets under management. Among the 11 most similar advisory firms, Penniall & Associates has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $420.63 million for 713 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.

Penniall & Associates doesn't advise any private funds.

Careers at Penniall & Associates, Inc.

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’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 receive compensation from other entities for client referrals.

William Robert Chetney has been acting as President since 1 Sep 2008. Richard Alexander Leu joined the executive team most recently as the Partner, Senior Wealth Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Rickard Penniall	Chief executive officer	1 Jan 1982	75% - 100%	1088267
Elizabeth Anne Walters	Chief compliance officer	1 Jun 2004	Other	4132606
Elizabeth M. Walters	Chief compliance officer	1 Jun 2004	Other	4132606
Inc. National Retirement Partners	Shareholder	1 Sep 2008	75% - 100%	20-3832996
Lawrence Craig Smith	Chief financial officer	1 Sep 2008	Other	5604379
William Robert Chetney	Director	1 Sep 2008	Other	1598915
William David Cvengros	Director	1 Sep 2008	Other	1479217
Dennis Wade Grant	Chief financial officer	1 Dec 2009	Other	5729260
Sarah Abigail Brace	Chief compliance officer	1 Jun 2010	Other	2807927
Craig Robert Watanabe	Chief compliance officer	1 Apr 2013	Other	1177960
Steven Ira Levin	Chief compliance officer	1 Jul 2014	Other	5984170
Inc. Phc	Holding company	1 Jul 2016	75% - 100%	81-3458938
Justin Michael Dyer	Chief operating officer	1 Nov 2016	Other	5474967
David Rickard Penniall	Ceo, cco	1 Dec 2017	75% - 100%	1088267
Richard Alexander Leu	Partner, senior wealth manager	1 Jul 2019	Other	4724262

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
David Rickard Penniall	Ceo	1 Jul 2016	75% - 100%	1088267

Based in Pasadena

The principal office where Penniall & Associates, Inc. performs its advisory services is located at 123 S. Marengo Avenue, Pasadena, CA 91101 The mailing address of the firm is P.O. Box 7001, Pasadena, CA 91109 7001. An additional office of the firm is in Torrance, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 626-795-3062 or by fax 626-795-3063. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at athletewealth.com and its LinkedIn profile.