Park State Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Park State Asset Management reports 60 clients. They include 32 high-net-worth individuals, 18 individual clients, and 5 corporations and other businesses. Of its assets, 99.1% ($191M across 126 accounts) are managed with discretion; $1.64M across 7 accounts are not. It advised 10 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 30% | 4% |
| High-net-worth individuals | 53% | 75% |
| Pension and profit-sharing plans | 7% | 13% |
| Charitable organizations | 2% | 2% |
| Corporations and other businesses | 8% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 18 | $8.36M | 4.3% | $464K |
| High-net-worth individuals | 32 | $145M | 75.4% | $4.53M |
| Pension and profit-sharing plans | 4 | $25.2M | 13.1% | $6.3M |
| Charitable organizations | 1 | $4.65M | 2.4% | $4.65M |
| Corporations and other businesses | 5 | $9.09M | 4.7% | $1.82M |
| Total | 60 | $192M | 100% | $3.21M |
- Clients
- 18
- Regulatory AUM
- $8.36M
- AUM share
- 4.3%
- Avg. per client
- $464K
- Clients
- 32
- Regulatory AUM
- $145M
- AUM share
- 75.4%
- Avg. per client
- $4.53M
- Clients
- 4
- Regulatory AUM
- $25.2M
- AUM share
- 13.1%
- Avg. per client
- $6.3M
- Clients
- 1
- Regulatory AUM
- $4.65M
- AUM share
- 2.4%
- Avg. per client
- $4.65M
- Clients
- 5
- Regulatory AUM
- $9.09M
- AUM share
- 4.7%
- Avg. per client
- $1.82M
Total
- Clients
- 60
- Regulatory AUM
- $192M
- AUM share
- 100%
- Avg. per client
- $3.21M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 10
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Park State Asset Management is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
William Furber owns 75% or more of Park State Asset Management. The leadership team of Park State Asset Management includes Chief Compliance Officer William Furber. It has 6 employees, 4 of them in advisory roles.
Leadership
- William FurberChief Compliance Officer
- William FurberManaging Partner
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 6 employees
- 4 in advisory functions
- 4 state-registered reps
- Owns 75% or more of Park State Asset Management LLC
William Furber
Control person · since April 2025
Park State Asset Management’s regulatory assets fell from $207M (May 2025) to $192M (April 2026); clients rose from 57 to 60 and employees from 5 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $192M | 60 | 6 | 1 |
| May 2025 | $207M | 57 | 5 | 1 |
Besides its headquarters, Park State Asset Management has 0 offices, with 1 listed address in Massachusetts.
Massachusetts · 1 listed address
- 50 Dunham Ridge, Suite 3100, BeverlyHQ
Contact and registration details
- Legal name
- Park State Asset Management LLC
- Headquarters
- 50 Dunham Ridge, Suite 3100, Beverly, MA 01915
- Website
- park-state.com
- Phone
- 978-529-2395
- SEC file
- 801-132913
- Structure
- Wyoming LLC
- Fiscal year end
- December
Park State Asset Management uses Fidelity ($128M, 66%), Charles Schwab ($48.3M, 25%) and Raymond James ($16.4M, 9%) as custodians for its separately managed accounts. Park State Asset Management does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $128M66%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $48.3M25%
- Raymond JamesRaymond James & Associates, Inc. · St. Petersburg, FL · $16.4M9%
At year end, Park State Asset Management’s separately managed accounts were mostly in stocks (85%).
What the accounts hold
- Stocks85%
- Funds2%
- Bonds4%
- Investment grade corporate bonds2%
- State and local bonds1%
- High-yield corporate bonds1%
- Cash9%
How many clients does Park State Asset Management have?
Park State Asset Management has 60 clients and manages $192 million for them, as of April 2026. They include 32 high-net-worth individuals, 18 individual clients, and 5 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 April 2026
What services does Park State Asset Management offer?
Park State Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Park State Asset Management use?
Park State Asset Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $128M, Charles Schwab & Co., Inc. (Westlake, TX), with $48.3M and Raymond James & Associates, Inc. (St. Petersburg, FL), with $16.4M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 April 2026
How many financial advisors does Park State Asset Management have?
Park State Asset Management has 4 investment adviser representatives registered with state securities authorities, out of 6 employees, and 4 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 Park State Asset Management invest in?
At the end of its last fiscal year, Park State Asset Management’s separately managed accounts held 85% exchange-traded equities, 9% cash and equivalents, 2% investment grade corporate bonds, 2% registered funds (mutual funds, ETFs, BDCs), 1% state and local bonds and 1% high-yield 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 Park State Asset Management?
Park State Asset Management’s direct owner is William Furber (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 23 April 2026
How does Park State Asset Management get paid?
Park State Asset Management is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions 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 Park State Asset Management?
Park State Asset Management’s main office is at 50 Dunham Ridge, Suite 3100, Beverly, MA 01915. Its phone number is 978-529-2395. Its website is park-state.com.