Freestone Capital Management, LLC (Seattle)

Freestone Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for approximately 2,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Freestone Capital Management: assets under management

The assets under management (AUM) of Freestone Capital Management, LLC is $4.69 billion. The firm's AUM has grown by 146% since the beginning of its operation, and $1.05 million of the total AUM is attributable to clients outside of the United States.

The firm manages $4.04 billion in discretionary accounts and $647.59 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $620.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $373.68 thousand.

Freestone Capital Management has custody of $42.18 million in cash and securities for 22 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is investment and business development companies, which make up 12% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Freestone Capital Management, LLC for their services and products based on a percentage of assets under management, commissions, and performance-based 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 Erik Konrad Morgan serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Erik Konrad Morgan is high net worth individuals with 1,190 clients and $2.71 billion of assets under management. Among the 9 most similar advisory firms, Freestone Capital Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $4.69 billion for 1,874 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.

Freestone Capital Management also advises several private funds. Namely, thirteen hedge funds. The minimum investment commitment required of non-related persons ranges from $200,000 to $1,000,000.

Careers at Freestone Capital Management, LLC

The company employs 66 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 26 employees are registered as investment adviser representatives with the state securities authorities.

There are 12 people 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.

Erik Konrad Morgan has been acting as President since 1 Mar 2008. Gary Isaac Furukawa has served as the Chief Investment Officer since 1 Mar 2009 and Scott Trimble Svenson is the Chief Executive Officer of Freestone Capital Management, LLC family office. Bruce Wayne Milam joined the executive team most recently as the Managing Director Of Operations.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 19 indirect owners.

Based in Seattle

The principal office where Freestone Capital Management, LLC performs its advisory services is located at 701 5 Th Avenue, Seattle, WA 98104, which is also the mailing address of the firm. An additional office of the firm is in Portland, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 206-707-7300 or by fax 206-707-7399. The normal business hours are 7:30 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at webportal.freestonecapital.com/pages/default.aspx.

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