Power Asset Management LLC (Los Angeles)

Name: Power Asset Management LLC
Address: 1901 Avenue Of The Stars, Los Angeles, CA, 90067
Telephone: 310-461-1330

Power Asset Management LLC is a large advisory firm based in Los Angeles. It manages $360 million of regulatory assets for 34 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdiction of California.

Power Asset Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Power Asset Management: assets under management

The assets under management (AUM) of Power Asset Management LLC is $360 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 243% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $360 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $10.59 million each.

Power Asset Management has custody of $25.54 million in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in state and local bonds the most. They account for 38% of the total AUM. The second-largest asset type is government bonds, which make up 24% of the firm’s portfolio. Investments in investment grade corporate bonds form 20% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Power Asset 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 Power Asset Management serves?

The only and largest group of clients of Power Asset Management is high net worth individuals with 34 clients and $360 million of assets under management. Among the 9 most similar advisory firms, Power Asset Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $360 million for 34 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.

Power Asset Management doesn't advise any private funds.

Careers at Power Asset Management LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There are 2 people 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
Michael Richard Power	Chief executive officer, chief compliance officer	1 Sep 2003	75% - 100%	2124029
Integral Wealth Partners Llc	Authorized member	1 Apr 2005	25% - 50%	731720935

Based in Los Angeles

The principal office where Power Asset Management LLC performs its advisory services is located at 1901 Avenue Of The Stars, Los Angeles, CA 90067, 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 310-461-1330 or by fax 213-674-4414. The normal business hours are 6 a.m. - 4 p.m. on Monday - Friday. You can find more information about the New York firm at powerassetmanagement.com.