Clients
Parametric Portfolio Associates serves 240,290 clients, 78,745 of them high-net-worth individuals. The average client has about $2.8 million with the firm, and high-net-worth clients hold 47% of its $684.8 billion in assets.
- Individuals151,182 clients9%
- High-net-worth individuals78,745 clients47%
- Investment companies97 clients5%
- Pooled investment vehicles114 clients2%
- Pension and profit-sharing plans559 clients16%
- OtherCharitable organizations, Corporations and other businesses, State or municipal government entities, Insurance companies, Sovereign wealth funds and foreign official institutions21%
What it does
Parametric Portfolio Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and fixed fees.
Parametric Portfolio Associates provided financial planning to 0 clients last fiscal year and advises 12 private funds.
94.0% of assets ($643.89B across 238,603 accounts) are managed with discretion; $40.89B across 1,677 accounts are not. $213.55B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 19 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) | 151,182 | $64,935,426,896 | 9.5% | $430K |
| High-net-worth individuals | 78,745 | $318,516,294,039 | 46.5% | $4.04M |
| Investment companies | 97 | $37,383,547,091 | 5.5% | $385.4M |
| Pooled investment vehicles | 114 | $14,401,826,142 | 2.1% | $126.3M |
| Pension and profit-sharing plans | 559 | $107,893,402,816 | 15.8% | $193.0M |
| Charitable organizations | 1,755 | $74,304,795,339 | 10.9% | $42.3M |
| State or municipal government entities | 19 | $1,401,484,493 | 0.2% | $73.8M |
| Insurance companies | 93 | $508,588,604 | 0.1% | $5.47M |
| Sovereign wealth funds and foreign official institutions | 1 | $1,454,101 | 0.0% | $1.45M |
| Corporations and other businesses | 7,725 | $65,430,317,508 | 9.6% | $8.47M |
| Total | 240,290 | $684,777,137,029 | 100% | $2.85M |
- Regulatory AUM
- $64,935,426,896
- Share
- 9.5%
- Avg. per client
- $430K
- Regulatory AUM
- $318,516,294,039
- Share
- 46.5%
- Avg. per client
- $4.04M
- Regulatory AUM
- $37,383,547,091
- Share
- 5.5%
- Avg. per client
- $385.4M
- Regulatory AUM
- $14,401,826,142
- Share
- 2.1%
- Avg. per client
- $126.3M
- Regulatory AUM
- $107,893,402,816
- Share
- 15.8%
- Avg. per client
- $193.0M
- Regulatory AUM
- $74,304,795,339
- Share
- 10.9%
- Avg. per client
- $42.3M
- Regulatory AUM
- $1,401,484,493
- Share
- 0.2%
- Avg. per client
- $73.8M
- Regulatory AUM
- $508,588,604
- Share
- 0.1%
- Avg. per client
- $5.47M
- Regulatory AUM
- $1,454,101
- Share
- 0.0%
- Avg. per client
- $1.45M
- Regulatory AUM
- $65,430,317,508
- Share
- 9.6%
- Avg. per client
- $8.47M
What the accounts hold
- Stocks61%
- Bonds19%
- State and local bonds10%
- U.S. government and agency bonds6%
- Investment grade corporate bonds3%
- Cash1%
- Other19%
- Derivatives19%
Custodians
Parametric Portfolio Associates’ client accounts are held mainly at Morgan Stanley, with 17% of managed assets, and Bank of New York Mellon, with 14%. Parametric Portfolio Associates has custody of $9.27B for 8 clients.
- Bank of New York MellonBank of New York Mellon · New York, NY · $95.07B14%
- Morgan StanleyMorgan Stanley Smith Barney LLC · Purchase, NY · $113.18B17%
- All other custodians$476.53B70%
Ownership and leadership
Morgan Stanley Capital Management, LLC owns 75% or more of Parametric Portfolio Associates.
- Owns 75% or more of Parametric Portfolio Associates LLC
Morgan Stanley Capital Management, LLC
Control person · since November 2024
- Owns 75% or more of Morgan Stanley Capital Management, LLC
Morgan Stanley
Control person · since March 2021
Leadership
- Ranjit KapilaCo-President, Chief Technology Officer and Head of Operations
- Thomas LeeCo-President, Chief Investment Officer
- Cindy KimChief Compliance Officer
- Melissa FellChief Administrative Officer
- Benjamin HammesHead of Derivatives Advisory Compliance
Staff
- 1,109 employees
- 213 in advisory functions
- 6 state-registered reps
- 59 broker-dealer reps
- 20 soliciting firms
Fees
Parametric Portfolio Associates is paid through a percentage of assets under management and fixed fees (other than subscription fees).
Parametric Portfolio Associates’ fee rates are not included in this profile. Read its fee schedule in its SEC-filed brochure.
Offices and registrations
Besides its headquarters, Parametric Portfolio Associates has 5 offices, with 6 listed addresses across 6 states.
Connecticut · 1 listed address
- 518 Riverside Avenue, Westport
Georgia · 1 listed address
- 6655 Town Square, Alpharetta
Massachusetts · 1 listed address
- One Post Office Square, Boston
Minnesota · 1 listed address
- 3600 Minnesota Drive, Minneapolis
New York · 1 listed address
- 100 Park Avenue, New York
Washington · 1 listed address
- 800 Fifth Avenue, Suite 2800, SeattleHQ
Other business names
Parametric Portfolio Associates has reported 2 other business names to the SEC.
- Parametric
- Parametric Portfolio Associates
Registration details
- Legal name
- Parametric Portfolio Associates LLC
- Headquarters
- 800 Fifth Avenue, Suite 2800, Seattle, WA 98104
- Phone
- 206-694-5500
- Website
- www.parametricportfolio.com
- SEC file
- 801-60485
- Founded
- 1987
- Structure
- Delaware 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 Parametric Portfolio Associates have?
Parametric Portfolio Associates has 240,290 clients and manages $684.8 billion for them, as of April 2026. They include 151,182 other individuals, 78,745 high-net-worth individuals and 7,725 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 April 2026
What services does Parametric Portfolio Associates offer?
Parametric Portfolio Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Parametric Portfolio Associates use?
Parametric Portfolio Associates’ separately managed account assets are held at Morgan Stanley Smith Barney LLC (Purchase, NY), with $113,175,196,061 and Bank of New York Mellon (New York, NY), with $95,069,700,569. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 21 April 2026
How many financial advisors does Parametric Portfolio Associates have?
Parametric Portfolio Associates has 6 investment adviser representatives registered with state securities authorities, out of 1,109 employees, and 213 perform investment advisory functions. 59 are registered representatives of a broker-dealer and 0 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 Parametric Portfolio Associates invest in?
At the end of its last fiscal year, Parametric Portfolio Associates’ separately managed accounts held 61% exchange-traded equities, 19% derivatives, 10% state and local bonds, 6% U.S. government and agency bonds, 3% investment grade corporate bonds and 1% cash and equivalents. It advises 12 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Parametric Portfolio Associates?
Parametric Portfolio Associates is owned through a holding company by Morgan Stanley. Its direct owner is Morgan Stanley Capital Management, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 21 April 2026
How does Parametric Portfolio Associates get paid?
Parametric Portfolio Associates is paid through a percentage of assets under management 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