Purus Wealth Management, LLC (Newport Beach)

Name: Purus Wealth Management, LLC
Address: 4675 Macarthur Court, Newport Beach, CA, 92660
Telephone: 949-356-6330

Purus Wealth Management, LLC is a large advisory firm based in Newport Beach. It manages $233.26 million of regulatory assets for 1,502 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, California, Colorado, and 4 other states.

Purus Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Purus Wealth Management: assets under management

The assets under management (AUM) of Purus Wealth Management, LLC is $233.26 million. The firm's AUM has grown by 112% since the beginning of its operation, and $42.34 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $178.69 million in discretionary accounts and $54.57 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $119.37 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $10.91 million.

Purus Wealth Management has custody of $144.1 million in cash and securities for 449 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 50% of the total AUM. The second-largest asset type is exchange traded securities, which make up 34% of the firm’s portfolio. Investments in cash and cash equivalents form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Purus Wealth Management, 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 Purus Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Purus Wealth Management is individuals with 602 clients and $116 million of assets under management. Among the 11 most similar advisory firms, Purus Wealth Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $232.95 million for 643 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.

Purus Wealth Management doesn't advise any private funds.

Careers at Purus Wealth Management, LLC

The company employs 9 people that are either part- or full-time employees. 44 percent of the employees work as investment advisers or researchers. 4 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
Mark Christopher Larsen	Managing member	1 Jan 2015	50% - 75%	1325124
John Don Morreale	Managing member	1 Jan 2015	25% - 50%	2155743
Laura Elizabeth Sillen	Managing member	1 Jan 2015	Other	5025645
Bonnie Lee Larsen	Chief compliance officer	1 Jan 2015	Other	5781892

Based in Newport Beach

The principal office where Purus Wealth Management, LLC performs its advisory services is located at 4675 Macarthur Court, Newport Beach, CA 92660, 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 949-356-6330 or by fax 949-356-6331. The normal business hours are 9:00 am - 5:00pm on Monday - Friday. You can find more information about the New York firm at puruswealthmanagement.com.