Clients
Advisor Partners II serves 5,371 clients, 4,380 of them high-net-worth individuals. The average client has about $2.6 million with the firm, and high-net-worth clients hold 84% of its $13.9 billion in assets.
- Individuals762 clients4%
- High-net-worth individuals4,380 clients84%
- Charitable organizations91 clients3%
- Corporations and other businesses131 clients9%
What it does
Advisor Partners II provides portfolio management for individuals and small businesses, portfolio management for institutions and other activities. It is paid through a percentage of assets.
Advisor Partners II advises no private funds.
100.0% of assets ($13.91B across 5,371 accounts) are managed with discretion. $411.5M sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 3 clients received advice without assets under management last fiscal year.
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| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 762 | $554,832,689 | 4.0% | $728K |
| High-net-worth individuals | 4,380 | $11,676,631,335 | 83.9% | $2.67M |
| Pension and profit-sharing plans | 3 | $21,563,399 | 0.2% | $7.19M |
| Charitable organizations | 91 | $352,509,052 | 2.5% | $3.87M |
| Other investment advisers | 4 | $12,449,726 | 0.1% | $3.11M |
| Corporations and other businesses | 131 | $1,292,779,467 | 9.3% | $9.87M |
| Total | 5,371 | $13,910,765,668 | 100% | $2.59M |
- Regulatory AUM
- $554,832,689
- Share
- 4.0%
- Avg. per client
- $728K
- Regulatory AUM
- $11,676,631,335
- Share
- 83.9%
- Avg. per client
- $2.67M
- Regulatory AUM
- $21,563,399
- Share
- 0.2%
- Avg. per client
- $7.19M
- Regulatory AUM
- $352,509,052
- Share
- 2.5%
- Avg. per client
- $3.87M
- Regulatory AUM
- $12,449,726
- Share
- 0.1%
- Avg. per client
- $3.11M
- Regulatory AUM
- $1,292,779,467
- Share
- 9.3%
- Avg. per client
- $9.87M
What the accounts hold
- Stocks56%
- Funds14%
- Bonds29%
- State and local bonds19%
- U.S. government and agency bonds9%
- Investment grade corporate bonds1%
- Cash1%
Custodians
Advisor Partners II’s client accounts are held mainly at Charles Schwab, with 42% of managed assets, and PNC Bank, N.A., with 21%. Advisor Partners II does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $5.81B42%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $2.57B18%
- PNC Bank, N.A.PNC Bank, N.A. · Philadelphia, PA · $2.97B21%
- All other custodians$2.57B18%
Ownership and leadership
Pathstone Intermediate Holdings owns 75% or more of Advisor Partners II.
- Owns 75% or more of Advisor Partners II, LLC
Pathstone Intermediate Holdings,
Control person · since April 2022
- Owns 75% or more of Advisor Partners II, LLC
Pathstone Intermediate Holdings, LLC
Control person · since April 2022
- Owns 75% or more of Pathstone Intermediate Holdings, LLC
Pathstone Holdings LLC
Control person · since May 2023
- Owns 25% to 50% of Pathstone Holdings LLC
Kai XI (tailwind) Investor, LP
Control person · since May 2023
Kia XI (tailwind) GP, L.P.
General partner · Control person · since May 2023
Leadership
- Rahul AgrawalPresident/Chief Investment Officer
- James McCallChief Compliance Officer
- Charles KeatesGeneral Counsel
- Ralph StudleyChief Revenue Officer
Staff
- 26 employees
- 16 in advisory functions
- 12 state-registered reps
Fees
Advisor Partners II charges up to 0.50% a year for investment advisory services.
| Service | Stated range | How it is charged |
|---|---|---|
| Investment advisory services | Up to 0.50% a year | Percentage of assets; negotiable. |
- Stated range
- Up to 0.50% a year
- How it is charged
- Percentage of assets; negotiable.
Offices and registrations
Besides its headquarters, Advisor Partners II has 3 offices, with 4 listed addresses across 4 states.
California · 1 listed address
- 1333 N. California BLVD, Suite 680, Walnut CreekHQ
Massachusetts · 1 listed address
- 115 Federal Street, Boston
New York · 1 listed address
- 850 Third Avenue, New York
Pennsylvania · 1 listed address
- 6022 West Chester Pike, Newtown Square
Registration details
- Legal name
- Advisor Partners II, LLC
- Headquarters
- 1333 N. California BLVD, Suite 680, Walnut Creek, CA 94596
- Phone
- 888-265-2257
- Website
- concentricinnovation.com
- SEC file
- 801-125744
- Founded
- 2001
- Structure
- California LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Advisor Partners II have?
Advisor Partners II has 5,371 clients and manages $13.9 billion for them, as of March 2026. They include 4,380 high-net-worth individuals, 762 other individuals and 131 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Advisor Partners II offer?
Advisor Partners II provides portfolio management for individuals and small businesses, portfolio management for institutions and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Advisor Partners II charge?
Advisor Partners II charges up to 0.50% a year for investment advisory services.
Source: Part 2A brochure, Item 5
Which custodians does Advisor Partners II use?
Advisor Partners II’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $5,805,275,903, PNC Bank, N.A. (Philadelphia, PA), with $2,970,685,392 and Fidelity Brokerage Services LLC (Smithfield, RI), with $2,566,371,018. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Advisor Partners II have?
Advisor Partners II has 12 investment adviser representatives registered with state securities authorities, out of 26 employees, and 16 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Advisor Partners II invest in?
At the end of its last fiscal year, Advisor Partners II’s separately managed accounts held 56% exchange-traded equities, 19% state and local bonds, 14% registered funds (mutual funds, ETFs, BDCs), 9% U.S. government and agency bonds, 1% investment grade corporate bonds and 1% cash and equivalents. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Advisor Partners II have a minimum investment?
Yes, Advisor Partners II’s minimum account size is $250,000.
Source: Part 2A brochure, Items 5 and 7
Who owns Advisor Partners II?
Advisor Partners II’s direct owners are Pathstone Intermediate Holdings (75% or more) and Pathstone Intermediate Holdings, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Advisor Partners II get paid?
Advisor Partners II is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file