{"url":"https://nivawealth.com/firms/park-state-asset-management-336573","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/336573","regulatoryAum":192387471,"crd":"336573","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"7971580","suffix":null,"lastName":"Carman","firstName":"Daniel","middleName":"Alden"},{"crd":"6856040","suffix":null,"lastName":"Cohen","firstName":"Samuel","middleName":"Bernard"},{"crd":"1261236","suffix":null,"lastName":"FURBER","firstName":"WILLIAM","middleName":"LOEMKER"},{"crd":"1020946","suffix":null,"lastName":"MOK","firstName":"LAURA","middleName":null}],"total":4,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2025-05-06","regulatoryAum":206619664,"clients":57,"employees":5,"offices":1},{"filedOn":"2026-04-23","regulatoryAum":192387471,"clients":60,"employees":6,"offices":1}],"secFileNumber":"801-132913","legalName":"Park State Asset Management LLC","displayName":"Park State Asset Management","slug":"park-state-asset-management-336573","website":"https://park-state.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Wyoming limited liability company","fiscalYearEnd":"December","headquarters":{"street":"50 Dunham Ridge, Suite 3100","city":"Beverly","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"01915"},"tradeNames":[],"registration":{"secApproved":"3 June 2025","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":3069347.78,"staff":{"employees":6,"advisory":4,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":192387471,"discretionary":190745082,"discretionaryAccounts":126,"nonDiscretionary":1642389,"nonDiscretionaryAccounts":7,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":10},"clientTypes":[{"label":"Individuals (other than HNW)","clients":18,"regulatoryAum":8360337},{"label":"High-net-worth individuals","clients":32,"regulatoryAum":145107052},{"label":"Pension and profit-sharing plans","clients":4,"regulatoryAum":25184095},{"label":"Charitable organizations","clients":1,"regulatoryAum":4649237},{"label":"Corporations and other businesses","clients":5,"regulatoryAum":9086750}],"feePrograms":[],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T18:04:20.984147+00:00","documents":[{"name":"PSAM ADV PART 2A","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1035655","versionId":1035655,"submittedOn":"2026-03-31"}]},"custodians":[{"name":"Fidelity Brokerage Services LLC","shortName":"Fidelity","location":"Smithfield, RI","smaAssets":127768570},{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":48253605},{"name":"Raymond James & Associates, Inc.","shortName":"Raymond James","location":"St. Petersburg, FL","smaAssets":16365296}],"custodyNote":"Park State Asset Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"William Furber","title":"Chief Compliance Officer","crd":"1261236"},{"name":"William Furber","title":"Managing Partner","crd":"1261236"}],"ownership":[{"label":"William Furber","detail":"Managing partner in the 75% or more ownership band and a control person, since April 2025. Also chief compliance officer in the 75% or more ownership band and a control person, since April 2026."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Massachusetts","offices":1,"addresses":[{"street":"50 Dunham Ridge, Suite 3100","city":"Beverly","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"978-529-2395","stateRegisteredReps":4,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)","Performance-based fees"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":85},{"label":"U.S. state and local bonds","percent":1},{"label":"Investment grade corporate bonds","percent":2},{"label":"Non-investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":2},{"label":"Cash and cash equivalents","percent":9}],"privateFunds":0},"sources":{"adv1FilingDate":"23 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/336573/PDF/336573.pdf","brochureDate":"31 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1035655","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Park State Asset Management have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Park State Asset Management offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Park State Asset Management use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Park State Asset Management have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Park State Asset Management invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Park State Asset Management?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Park State Asset Management get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Park State Asset Management?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 23 April 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}