The need for unbiased wealth management has become increasingly prominent as the world continues to shift towards a remote reality — and registered investment advisors (RIAs) are at the center of this trend. With growing uncertainty in the markets today, businesses and high-net-worth individuals are turning to RIAs for their self-governing nature, fiduciary value and sophisticated financial expertise. In an effort to shine a light on the RIA space, FINTRX explores three of the largest registered investment advisors (RIAs) based in Washington.
1. Parametric Portfolio Associates, LLC = ~$265B+ in AUM
Founded in 1987, Parametric Portfolio Associates, LLC is a registered investment advisor headquartered in Seattle, Washington with additional offices in Minneapolis, New York City, Boston, and Westport, Connecticut. Parametric partners with advisors, institutions and consultants to build portfolios focused on what’s important to them and their clients. As a leader in custom solutions for over 30 years, the firm helps investors access efficient market exposures, solve implementation challenges and design multi-asset portfolios that respond to their evolving needs. Parametric also offers systematic alpha and alternative strategies to complement clients’ core holdings. The group has over 600 employees, including 137 investment professionals and 114 client service professionals.
- Founded: 1987
- Headquarters: Seattle, WA
- Discretionary Assets: ~$242B+
- Non-Discretionary Assets: ~$23B+
- Total AUM: ~$265B+
- Specialties: Institutional investing, wealth management, tax-loss harvesting, tax management, factor investing, custom SMAs, dividend income, emerging markets, international equity, impact and ESG investing, risk management, multi-asset solutions, liability-driven investing, volatility risk premium, options overlay, alternative risk premia and commodities
2. Russell Investments Implementation Services, LLC = ~$129B+ in AUM
With roots tracing back to 1936, Russell Investments Implementation Services, LLC operates as a global investment management company dedicated to helping investors reach their long-term goals. Russell Investments specializes in multi-asset solutions, scouring the globe to deliver the best investment strategies, managers and asset classes to its clients around the world. Headquartered in Seattle, Washington, Russell Investments operates globally with 21 offices, providing investment services in the world’s major financial centers such as New York, London, Tokyo and Shanghai. The firm takes a global, 'best-of-breed' approach to manager selection, with researchers strategically placed around the world, searching for future outperformers. This process, refined over almost five decades, is rigorous, ongoing, and has ultimately proved effective. Through corporate giving, volunteering and the use of sustainable practices, Russell Investments is dedicated to improving people's financial security.
- Founded: 1936
- Headquarters: Seattle, WA
- Discretionary Assets: ~$129B+
- Non-Discretionary Assets: $0
- Total AUM: ~$129B+
- Specialties: Multi-asset solutions, investment management, fiduciary management, investment outsourcing, implementation services, defined benefit, defined contribution, non-profit organizations and healthcare systems
3. Fisher Asset Management, LLC / Fisher Investments = ~$120B+ in AUM
Founded in 1979, Fisher Asset Management (also known as Fisher Investments) is an independent money management firm headquartered in Camas, Washington. CEO Ken Fisher has been a professional investor for over 35 years and is globally recognized as a financial guru. Fisher Investments is a fee-only investment advisor for 85,000 private high-net-worth individuals and 150 institutions globally, including clients across the US, Europe, Canada, Asia and the Middle East. Since its founding over 40 years ago, Fisher Investments has been helping clients reach their financial goals by providing a tailored approach to investment management. Unlike many money managers who sell cookie-cutter portfolios, the firm tailors each investment portfolio to your individual needs and goals. Fisher Investments doesn’t sell high-commission investment products and earns no commissions on trades. Instead, they charge a management fee based on the size of your account. This fee structure aligns the firm's interests with that of the client(s). Fisher is supported by more than 3,500 employees operating out of 17 countries.
- Founded: 1979
- Headquarters: Camas, WA
- Discretionary Assets: ~$17.2B+
- Non-Discretionary Assets: $0
- Total AUM: ~$120B+
- Specialties: Financial services, portfolio management, investment advice, retirement planning and retirement investment planning
In general terms, a registered investment advisor (RIA) is a firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.
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