Parisi Gray Wealth Management, LLC (Bedminster)

Name: Parisi Gray Wealth Management, LLC
Address: 350 Main Street, Bedminster, NJ, 07921
Telephone: 973-358-4921

Parisi Gray Wealth Management, LLC is a large advisory firm based in Bedminster. It manages $391.71 million of regulatory assets for 732 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Florida, Georgia, and 5 other states.

Parisi Gray Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Parisi Gray Wealth Management: assets under management

The assets under management (AUM) of Parisi Gray Wealth Management, LLC is $391.71 million. The firm's AUM has grown by 161% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $381.6 million in discretionary accounts and $10.11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $544.36 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $326.13 thousand.

Parisi Gray Wealth Management has custody of $121.76 million in cash and securities for 34 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 38% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in government bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Parisi Gray Wealth Management, LLC for their services and products based on a percentage of assets under management. 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 Parisi Gray Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Parisi Gray Wealth Management is high net worth individuals with 78 clients and $364.56 million of assets under management. Among the 7 most similar advisory firms, Parisi Gray Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $391.71 million for 148 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.

Parisi Gray Wealth Management doesn't advise any private funds.

Careers at Parisi Gray Wealth Management, LLC

The company employs 5 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. No 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 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
David P Gray	Member/chief compliance officer	1 Dec 2016	50% - 75%	5349909
John Francis Parisi	Managing member	1 Dec 2016	50% - 75%	1879131
Christina Marie Sofka	Chief administrative officer	1 Dec 2016	Other	5894172

Based in Bedminster

The principal office where Parisi Gray Wealth Management, LLC performs its advisory services is located at 350 Main Street, Bedminster, NJ 07921, 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 973-358-4921. 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 parisigray.com.