L. Roy Papp & Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and pension consulting.
L. Roy Papp & Associates reports 576 clients. They include 276 high-net-worth individuals, 273 individual clients and 13 charitable organizations. Of its assets, 83.7% ($1.36B across 1,416 accounts) are managed with discretion; $264M across 431 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 47% | 8% |
| High-net-worth individuals | 48% | 82% |
| Investment companies | <1% | 3% |
| Pension and profit-sharing plans | 1% | 2% |
| Charitable organizations | 2% | 4% |
| Other client typesCorporations and other businesses | 1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 273 | $129M | 7.9% | $472K |
| High-net-worth individuals | 276 | $1.34B | 82.5% | $4.85M |
| Investment companies | 1 | $44.1M | 2.7% | $44.1M |
| Pension and profit-sharing plans | 6 | $31.5M | 1.9% | $5.24M |
| Charitable organizations | 13 | $66.9M | 4.1% | $5.15M |
| Corporations and other businesses | 7 | $13M | 0.8% | $1.85M |
| Total | 576 | $1.62B | 100% | $2.82M |
- Clients
- 273
- Regulatory AUM
- $129M
- AUM share
- 7.9%
- Avg. per client
- $472K
- Clients
- 276
- Regulatory AUM
- $1.34B
- AUM share
- 82.5%
- Avg. per client
- $4.85M
- Clients
- 1
- Regulatory AUM
- $44.1M
- AUM share
- 2.7%
- Avg. per client
- $44.1M
- Clients
- 6
- Regulatory AUM
- $31.5M
- AUM share
- 1.9%
- Avg. per client
- $5.24M
- Clients
- 13
- Regulatory AUM
- $66.9M
- AUM share
- 4.1%
- Avg. per client
- $5.15M
- Clients
- 7
- Regulatory AUM
- $13M
- AUM share
- 0.8%
- Avg. per client
- $1.85M
Total
- Clients
- 576
- Regulatory AUM
- $1.62B
- AUM share
- 100%
- Avg. per client
- $2.82M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
L. Roy Papp & Associates charges 0.50%–1.00% a year for its Investment Management Fee. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
| Asset band | Annual rate |
|---|---|
| $0–$3M | 1.00% |
| $3M–$8M | 0.75% |
| $8M and above | 0.50% |
Fee details and sources
Harry Papp owns 50% to 75% of L. Roy Papp & Associates. The leadership team of L. Roy Papp & Associates includes Chief Compliance Officer Anne Haggerty. It has 10 employees.
Leadership
- Anne HaggertyChief Compliance Officer
- Matthew BaumGeneral Partner
- Russell BiehlGeneral Partner
- Julie HeinCompliance Officer
- Judith MaciasGeneral Partner
- Brian RiordanGeneral Partner
- Anne RossGeneral Partner
- Christopher SchaeferGeneral Partner
- Gregory SmithGeneral Partner
- Harry PappGeneral Partner
- Rosellen PappGeneral Partner
- Jeffrey EdwardsGeneral Partner
Investment adviser representatives
11 representatives listed in the SEC register as of 9 October 2026.
- Alexander Jacques Robert Arnon-Bennett
- Matthew Philip Baum
- Russell Allen Biehl
- Jeffrey Nels Edwards
- Julie Ann Hein
- Judith Ann Macias
- Harry A Papp
- Rosellen C Papp
- Brian Michael Riordan
- Christopher Lauren Schaefer
- Gregory S Smith
Staff
- 10 employees
- 10 in advisory functions
- 10 state-registered reps
- Owns 50% to 75% of L. Roy Papp & Associates, LLP
Harry Papp
Control person · since October 1989
- Owns 10% to 25% of L. Roy Papp & Associates, LLP
Rosellen Papp
since October 1989
- Owns 5% to 10% of L. Roy Papp & Associates, LLP
Jeffrey Edwards
since January 1993
L. Roy Papp & Associates’ regulatory assets grew from $1.23B (March 2021) to $1.62B (May 2026); clients were 576 in both filings and employees fell from 11 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $1.62B | 576 | 10 | 1 |
| February 2025 | $1.53B | 644 | 10 | 1 |
| February 2024 | $1.42B | 610 | 10 | 1 |
| March 2023 | $1.26B | 619 | 10 | 1 |
| March 2022 | $1.44B | 560 | 11 | 1 |
| March 2021 | $1.23B | 562 | 11 | 1 |
Besides its headquarters, L. Roy Papp & Associates has 0 offices, with 1 listed address in Arizona.
Arizona · 1 listed address
- 2201 E. Camelback Road, Suite 227b, PhoenixHQ
Contact and registration details
- Legal name
- L. Roy Papp & Associates, LLP
- Headquarters
- 2201 E. Camelback Road, Suite 227b, Phoenix, AZ 85016
- Website
- roypapp.com
- Phone
- 602-956-0980
- SEC file
- 801-35594
- Founded
- 1978
- Structure
- Arizona limited liability partnership
- Fiscal year end
- December
L. Roy Papp & Associates uses Charles Schwab ($1.39B) as custodian for its separately managed accounts. L. Roy Papp & Associates has custody of $183M in client assets for 51 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.39B100%
At year end, L. Roy Papp & Associates’ separately managed accounts were mostly in stocks (60%) and bonds (17%). Its reported 13F holdings for the quarter ended 30 June 2026 total $951M across 193 positions; the largest are Apple Inc. (6.9%), Alphabet Inc. (5.6%) and Microsoft Corp. (4.7%).
What the accounts hold
- Stocks60%
- Funds8%
- Bonds17%
- U.S. government and agency bonds16%
- Investment grade corporate bonds1%
- Cash15%
Reported 13F holdings
- $951M
- Reported 13F value
- 193
- Positions
- 40.7%
- In the 10 largest
- +9.7%
- Value vs. prior quarter
- Apple Inc.6.9%
- Alphabet Inc. · Cap Stk CL C5.6%
- Microsoft Corp.4.7%
- Visa Inc. · Com CL A3.7%
- Blackrock Inc.3.7%
- Alphabet Inc. · Cap Stk CL A3.5%
- Marvell Technology Inc.3.5%
- Oreilly Automotive Inc.3.2%
- Johnson & Johnson3.2%
- Expeditors Intl Wash Inc.2.7%
Together, the ten largest are 40.7% of reported value.
How many clients does L. Roy Papp & Associates have?
L. Roy Papp & Associates has 576 clients and manages $1.62 billion for them, as of May 2026. They include 276 high-net-worth individuals, 273 individual clients and 13 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 May 2026
What services does L. Roy Papp & Associates offer?
L. Roy Papp & Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does L. Roy Papp & Associates charge?
L. Roy Papp & Associates charges 0.50%–1.00% a year for its Investment Management Fee. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Which custodians does L. Roy Papp & Associates use?
L. Roy Papp & Associates’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.39B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 May 2026
How many financial advisors does L. Roy Papp & Associates have?
L. Roy Papp & Associates has 10 investment adviser representatives registered with state securities authorities, out of 10 employees, and 10 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 L. Roy Papp & Associates invest in?
At the end of its last fiscal year, L. Roy Papp & Associates’ separately managed accounts held 60% exchange-traded equities, 16% U.S. government and agency bonds, 15% cash and equivalents, 8% registered funds (mutual funds, ETFs, BDCs) and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns L. Roy Papp & Associates?
L. Roy Papp & Associates’ direct owners are Harry Papp (50% to 75%), Rosellen Papp (10% to 25%) and Jeffrey Edwards (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 May 2026
How does L. Roy Papp & Associates get paid?
L. Roy Papp & Associates 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
Is L. Roy Papp & Associates registered with the SEC?
Yes, L. Roy Papp & Associates has been registered with the SEC as an investment adviser since 1 October 1989. Its CRD number is 105130 and its SEC file number is 801-35594.
Source: Form ADV Part 1A, Item 1, filed 27 May 2026; IAPD firm record
How do I contact L. Roy Papp & Associates?
L. Roy Papp & Associates’ main office is at 2201 E. Camelback Road, Suite 227b, Phoenix, AZ 85016. Its phone number is 602-956-0980. Its website is roypapp.com.