Parallel Advisors is a large fee-only advisory firm located in San Francisco. Parallel Advisors employs dozens of financial advisor professionals who are responsible for billions in client assets under management (AUM). Parallel Advisors works with a variety of clients, though most of them are individuals both above and below the high-net-worth threshold.
As a fee-only firm, Parallel Advisors only receives fees directly from clients for providing advisory services. That means they don't receive third-party sales commissions like a fee-based firm.
The practice is ranked among the top 10 firms in San Francisco by SmartAsset.
Parallel Advisors Background
Parallel Advisors was founded in 2006 by C.J. Rendic. Today, Rendic remains one of the firm's principals and its CEO. The firm is owned by Prism Topco, L.P.
There are a number of employees at this firm who hold specialized financial credentials. These designations include the Certified Financial Planner™ (CFP), chartered financial analyst (CFA), chartered alternative investment analyst (CAIA) certifications, among others.
Parallel Advisors Client Types and Minimum Account Sizes
Parallel Advisors has thousands of clients, the majority of whom are non-high-net-worth individuals. However, the firm also works with many high-net-worth individuals, as well as dozens of pension and profit-sharing plans, charities and businesses.
While the firm technically doesn't have a minimum account size requirement, its investment advisory services require a $3,000 minimum annual fee.
Services Offered by Parallel Advisors
Parallel Advisors offers discretionary investment management services for individuals and retirement plans, along with financial planning and consulting services. Clients may receive support on estate and insurance matters, tax preparation, as well as outside account reporting.
The firm also provides advice on unaffiliated and affiliated private investment funds, may recommend independent managers, and supports clients using excluded assets platforms. Services are tailored to clients’ investment objectives, and planning engagements require separate agreements. Cryptocurrency investments are only client-directed. The firm does not offer legal, accounting, or insurance implementation but may refer clients to outside professionals when requested.
Parallel Advisors Investment Philosophy
Parallel Advisors primarily uses long-term and short-term investment strategies based on fundamental, technical and cyclical analysis. Client portfolios are typically allocated across mutual funds, ETFs, fixed income securities, and, where appropriate, interval funds or private investments. The firm may employ options strategies such as covered calls for income or risk management. Investment decisions are guided by clients’ objectives and risk tolerance.
While Parallel does not maintain an ESG strategy, it will accommodate client-directed ESG preferences using third-party evaluations. Cryptocurrency exposure is limited to client-authorized ETF investments, with no direct purchases made at the firm’s discretion.
Parallel Advisors Fees
Parallel Advisors' fee schedule is dependent upon the services a client uses. For investment advisory and retirement plan services, fees are based on a percentage of each client's AUM. Minimum annual fees are generally $3,000 for investment advisory services and $5,000 for retirement plan services.
| Investment Advisory Fees | |
| Account Size | Annual Fee |
| First $250K | 1.25% |
| $250K - $2MM | 1.00% |
| $2MM - $4MM | 0.85% |
| $4MM - $6MM | 0.70% |
| $6MM - $10MM | 0.60% |
| $10MM - $25MM | 0.50% |
| $25MM and up | 0.30% |
| Retirement Plan Consulting Fees | |
| Account Size | Annual Fee |
| First $1MM | 0.70% |
| $1MM - $3MM | 0.50% |
| $3MM - $5MM | 0.35% |
| $5MM - $10MM | 0.25% |
| $10MM and up | 0.15% |
Below are the estimated fees for investment advisory services at Parallel:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Parallel Advisors* | |
| Your Assets | Parallel Advisors Fee Amounts |
| $500K | $5,625 |
| $1MM | $10,625 |
| $5MM | $44,625 |
| $10MM | $75,625 |
Financial planning fees are typically charged on an hourly basis and can be as much as $1,000 per hour. For the firm's PPP program, fees vary from client to client. Tax preparation services are generally provided at $290 per hour.
What to Watch Out For
Parallel Advisors doesn't have any disclosures listed on its SEC-filed Form ADV.
Opening an Account With Parallel Advisors
Residents of the San Francisco, Honolulu, Dallas, Oklahoma City, Denver, Durango, Colorado, Reno, Nevada, Scottsdale, Arizona, and Dayton, Ohio areas can visit Parallel Advisors' offices in those cities. Otherwise, you can reach out to the firm via the contact form on its website or over the phone at (866) 627-6984.
Ways to Get Your Financial Plan Started
- Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Want to take more of a DIY approach to your financial plan? There are plenty of individual options for getting your finances under control. In fact, many financial planning software programs are on the market, with some being free and others costing a few bucks.
All information is accurate as of the writing of this article.
