Optas, LLC (San Francisco)

Optas, LLC is a large advisory firm based in San Francisco. It manages $397.4 million of regulatory assets for 366 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California and Texas.

Optas provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Optas: assets under management

The assets under management (AUM) of Optas, LLC is $397.4 million, all of which is managed in discretionary accounts. $2.4 million of the total AUM is attributable to clients outside of the United States.

The firm manages $397.4 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.09 million each.

Optas has custody of $397.4 million in cash and securities for 78 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 45% of the total AUM. The second-largest asset type is state and local bonds, which make up 29% of the firm’s portfolio. Investments in investment and business development companies form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Optas, LLC 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 Optas serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Optas is high net worth individuals with 48 clients and $384.1 million of assets under management. Among the 7 most similar advisory firms, Optas has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $394.6 million for 84 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.

Optas doesn't advise any private funds.

Careers at Optas, LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frederick Morgan Glasser	Managing member & investment advisory representative	1 May 2019	50% - 75%	2517074
Meghan Railey	Managing member & investment advisory representative	1 May 2019	50% - 75%	5570937
Michael Berger	Chief compliance officer	1 May 2019	Other	2708511

Based in San Francisco

The principal office where Optas, LLC performs its advisory services is located at 235 Montgomery Street, San Francisco, CA 94104, 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 415-466-3980. The normal business hours are by appointment only on Monday - Friday.