Cypress Wealth Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, education planning, estate planning, insurance, and philanthropic planning.
Cypress Wealth Services reports 836 clients. They include 469 individual clients, 356 high-net-worth individuals, and 6 corporations and other businesses. Of its assets, 100.0% ($1.34B across 2,215 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 56% | 10% |
| High-net-worth individuals | 43% | 85% |
| Charitable organizations | <1% | 4% |
| Corporations and other businesses | <1% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 469 | $134M | 10.0% | $286K |
| High-net-worth individuals | 356 | $1.14B | 84.9% | $3.19M |
| Charitable organizations | 5 | $50.1M | 3.7% | $10M |
| Corporations and other businesses | 6 | $17.9M | 1.3% | $2.98M |
| Total | 836 | $1.34B | 100% | $1.6M |
- Clients
- 469
- Regulatory AUM
- $134M
- AUM share
- 10.0%
- Avg. per client
- $286K
- Clients
- 356
- Regulatory AUM
- $1.14B
- AUM share
- 84.9%
- Avg. per client
- $3.19M
- Clients
- 5
- Regulatory AUM
- $50.1M
- AUM share
- 3.7%
- Avg. per client
- $10M
- Clients
- 6
- Regulatory AUM
- $17.9M
- AUM share
- 1.3%
- Avg. per client
- $2.98M
Total
- Clients
- 836
- Regulatory AUM
- $1.34B
- AUM share
- 100%
- Avg. per client
- $1.6M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Cypress Wealth Services charges up to 1.50% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting Services
- Hourly engagements are billed at up to $350 an hour, or a fixed fee; flat fees range from $500 to $10,000.
- Retirement Plan Consulting Services
- Fees are based on plan assets under management and will not exceed 1.50%.
Risenmay, Inc. owns 25% to 50% of Cypress Wealth Services and is in turn owned by Christian Risenmay (75% or more). The leadership team of Cypress Wealth Services includes Chief Compliance Officer Marc Koven. It has 21 employees, 14 of them in advisory roles.
Leadership
- Marc KovenChief Compliance Officer
- Stephen BiesingerPartner & Senior Financial Advisor
- Christian RisenmayPartner & Senior Financial Advisor
- David ThatcherPartner & Senior Financial Advisor
Investment adviser representatives
14 representatives listed in the SEC register as of 9 October 2026.
- Bradley Jay Arave
- Stephen Ross Biesinger
- James Michael Bray
- Gregory Thomas Frech
- William Alan Gordon
- Marc Edelman Koven
- Dermott Gabriel Larkin
- Carey Sylvan McCrady
- Jason McCord Nettleton
- Clark Steven Penney
- Christian Brad Risenmay
- Penny Elizabeth Salamida
- David Reeder Thatcher
- James Alan Watson
Staff
- 21 employees
- 14 in advisory functions
- 14 state-registered reps
- 7 broker-dealer reps
- 10 insurance agents
- Owns 25% to 50% of Cypress Wealth Services, LLC
Risenmay, Inc.
Control person · since June 2017
- Owns 75% or more of Risenmay, Inc.
Christian Risenmay
Control person · since July 2014
- Owns 25% to 50% of Cypress Wealth Services, LLC
Second Growth Financial
Control person · since July 2016
- Owns 75% or more of Second Growth Financial
David Thatcher
Control person · since July 2014
- Owns 25% to 50% of Cypress Wealth Services, LLC
Cypress Group Wealth Advisors, Inc.
Control person · since June 2017
- Owns 25% to 50% of Cypress Wealth Services, LLC
Cypress Group Wealth Advisors,
Control person · since June 2017
Cypress Wealth Services’ regulatory assets grew from $982M (May 2021) to $1.34B (February 2026); clients rose from 769 to 836 and employees from 18 to 21.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $1.34B | 836 | 21 | 2 |
| April 2025 | $966M | 722 | 14 | 2 |
| June 2024 | $821M | 617 | 16 | 2 |
| May 2023 | $677M | 588 | 16 | 2 |
| February 2022 | $715M | 566 | 13 | 2 |
| May 2021 | $982M | 769 | 18 | 2 |
Besides its headquarters, Cypress Wealth Services has 1 office, with 2 listed addresses in Alaska and California.
Alaska · 1 listed address
- 3620 Penland Parkway, Anchorage
California · 1 listed address
- 74150 Country Club Drive, Palm DesertHQ
Contact and registration details
- Legal name
- Cypress Wealth Services, LLC
- Headquarters
- 74150 Country Club Drive, Palm Desert, CA 92260
- Website
- cypressws.com
- Phone
- 760-834-7250
- @cypresswealthservices
- SEC file
- 801-110836
- Founded
- 2017
- Structure
- California LLC
- Fiscal year end
- December
Cypress Wealth Services uses Charles Schwab ($1.34B) as custodian for its separately managed accounts. Cypress Wealth Services has custody of $891M in client assets for 679 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.34B100%
At year end, Cypress Wealth Services’ separately managed accounts were mostly in funds (52%) and stocks (22%). Its reported 13F holdings for the quarter ended 30 June 2026 total $815M across 436 positions; the largest are SPDR Series Trust (5.8%), Apple Inc. (5.8%) and iShares TR (5.5%).
What the accounts hold
- Stocks22%
- Exchange-traded equities21%
- Non-exchange-traded equities1%
- Funds52%
- Registered funds45%
- Pooled vehicles7%
- Bonds22%
- U.S. government and agency bonds14%
- State and local bonds4%
- Investment grade corporate bonds3%
- High-yield corporate bonds1%
- Cash5%
- Other1%
- Derivatives1%
Reported 13F holdings
- $815M
- Reported 13F value
- 436
- Positions
- 32.2%
- In the 10 largest
- +15.0%
- Value vs. prior quarter
- SPDR Series Trust · ST Str P500etf5.8%
- Apple Inc.5.8%
- iShares TR · Core S&P500 ETF5.5%
- Blackrock ETF Trust · iShares US Equit3.6%
- iShares TR · S&P 500 Grwt ETF2.5%
- Blackrock ETF Trust · Isha IN Ctry ETF2.3%
- Schwab Strategic TR · US Aggregate B1.9%
- iShares TR · S&P 500 Val ETF1.9%
- State Str SPDR S&P 500 ETF T · TR Unit1.6%
- Blackrock ETF Trust · Isha I IN TE ETF1.4%
Together, the ten largest are 32.2% of reported value.
How many clients does Cypress Wealth Services have?
Cypress Wealth Services has 836 clients and manages $1.34 billion for them, as of February 2026. They include 469 individual clients, 356 high-net-worth individuals, and 6 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 6 February 2026
What services does Cypress Wealth Services offer?
Cypress Wealth Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, education planning, estate planning, insurance, and philanthropic planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Cypress Wealth Services charge?
Cypress Wealth Services charges up to 1.50% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable.
Which custodians does Cypress Wealth Services use?
Cypress Wealth Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.34B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 6 February 2026
How many financial advisors does Cypress Wealth Services have?
Cypress Wealth Services has 14 investment adviser representatives registered with state securities authorities, out of 21 employees, and 14 perform investment advisory functions. 7 employees are registered representatives of a broker-dealer and 10 employees are 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 Cypress Wealth Services invest in?
At the end of its last fiscal year, Cypress Wealth Services’ separately managed accounts held 45% registered funds (mutual funds, ETFs, BDCs), 21% exchange-traded equities, 14% U.S. government and agency bonds, 7% pooled vehicles (private funds and similar), 5% cash and equivalents, 4% state and local bonds, 3% investment grade corporate bonds, 1% non-exchange-traded equities, 1% high-yield corporate bonds and 1% derivatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cypress Wealth Services?
Cypress Wealth Services is owned through holding companies by Christian Risenmay and David Thatcher. Its direct owners are Risenmay, Inc., Second Growth Financial, Cypress Group Wealth Advisors, Inc. and Cypress Group Wealth Advisors, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 6 February 2026
How does Cypress Wealth Services get paid?
Cypress Wealth Services is paid through a percentage of assets under management, hourly charges and fixed fees. 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
How do I contact Cypress Wealth Services?
Cypress Wealth Services’ main office is at 74150 Country Club Drive, Palm Desert, CA 92260. Its phone number is 760-834-7250. Its website is cypressws.com.