Parsons Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, estate planning, retirement plan services, and tax planning. Financial planning was provided to 26–50 clients last fiscal year.
Parsons Capital Management reports 746 clients. They include 381 high-net-worth individuals, 314 individual clients and 26 charitable organizations. Of its assets, 98.8% ($2.35B across 1,927 accounts) are managed with discretion; $29.4M across 15 accounts are not. It advised 34 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 42% | 5% |
| High-net-worth individuals | 51% | 86% |
| Pension and profit-sharing plans | 1% | <1% |
| Charitable organizations | 3% | 5% |
| Corporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 314 | $128M | 5.4% | $408K |
| High-net-worth individuals | 381 | $2.06B | 86.4% | $5.41M |
| Pension and profit-sharing plans | 11 | $16.3M | 0.7% | $1.48M |
| Charitable organizations | 26 | $128M | 5.4% | $4.92M |
| Corporations and other businesses | 14 | $52.4M | 2.2% | $3.74M |
| Total | 746 | $2.38B | 100% | $3.2M |
- Clients
- 314
- Regulatory AUM
- $128M
- AUM share
- 5.4%
- Avg. per client
- $408K
- Clients
- 381
- Regulatory AUM
- $2.06B
- AUM share
- 86.4%
- Avg. per client
- $5.41M
- Clients
- 11
- Regulatory AUM
- $16.3M
- AUM share
- 0.7%
- Avg. per client
- $1.48M
- Clients
- 26
- Regulatory AUM
- $128M
- AUM share
- 5.4%
- Avg. per client
- $4.92M
- Clients
- 14
- Regulatory AUM
- $52.4M
- AUM share
- 2.2%
- Avg. per client
- $3.74M
Total
- Clients
- 746
- Regulatory AUM
- $2.38B
- AUM share
- 100%
- Avg. per client
- $3.2M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 34
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 26–50
Parsons Capital Management charges 0.80%–1.00% a year for its Investment Management Services. 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
- Consulting Services
- Consulting is billed hourly at $100 to $500 per hour, or as a fixed fee of $1,000 to $20,000, paid in arrears when the work is complete.
- Financial Planning
- The standard flat fee for financial planning is $3,000 to $15,000, depending on assets and complexity; the hourly fee for planning is $300.
PCM Holdings Inc owns 75% or more of Parsons Capital Management. The leadership team of Parsons Capital Management includes President John Mullen and Chief Compliance Officer Stacey Sternberg. It has 22 employees, 12 of them in advisory roles.
Leadership
- John MullenPresident
- Stacey SternbergChief Compliance Officer
- Charles ParsonsTreasurer
- John TrevorSecretary
Investment adviser representatives
14 representatives listed in the SEC register as of 9 October 2026.
- Joan Marie Caine
- Edwin G Fischer JR.
- Peter Meehan Hunt
- Linda Jane Jamison
- Gregory Joseph Lavine
- John Henry Mullen
- Ruth Killeen Mullen
- Charles Bateman Parsons
- John Geddes Parsons
- Robert White Parsons
- Andrew E. Snape
- Stacey Lea Sternberg
- John Bond Trevor IV
- David Von Hemert
Staff
- 22 employees
- 12 in advisory functions
- 14 state-registered reps
- Owns 75% or more of Parsons Capital Management Inc
PCM Holdings Inc
Control person · since July 2021
Parsons Capital Management’s regulatory assets grew from $1.76B (July 2021) to $2.38B (April 2026); clients were 746 in both filings and employees rose from 18 to 22.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $2.38B | 746 | 22 | 5 |
| March 2025 | $2.09B | 740 | 21 | 5 |
| May 2024 | $1.88B | 737 | 21 | 5 |
| March 2023 | $1.68B | 713 | 18 | 5 |
| April 2022 | $1.86B | 740 | 19 | 5 |
| July 2021 | $1.76B | 718 | 18 | 3 |
Besides its headquarters, Parsons Capital Management has 4 offices (2 private residences, listed without an address), with 3 listed addresses in Colorado, Florida and Rhode Island.
Colorado · 1 listed address
- 288 Clayton Street, Denver
Florida · 1 listed address
- 11450 Se Dixie Highway, Hobe Sound
Rhode Island · 1 listed address
- 40 Westminster Street, Ste 400, ProvidenceHQ
Contact and registration details
- Legal name
- Parsons Capital Management Inc
- Headquarters
- 40 Westminster Street, Ste 400, Providence, RI 02903
- Website
- parsonscapital.com
- Phone
- 401-521-2440
- @parsons-capital-management-inc.
- SEC file
- 801-45209
- Founded
- 1993
- Structure
- Rhode Island corporation
- Fiscal year end
- December
Parsons Capital Management uses Charles Schwab ($1.67B, 71%) and Fidelity ($679M, 29%) as custodians for its separately managed accounts. Parsons Capital Management has custody of $488M in client assets for 98 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.67B71%
- FidelityNational Financial Services LLC · Boston, MA · $679M29%
At year end, Parsons Capital Management’s separately managed accounts were mostly in stocks (76%) and bonds (11%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.21B across 525 positions; the largest are Apple Inc. (8.5%), 3m CO (3.7%) and Berkshire Hathaway Inc. Del (3.1%).
What the accounts hold
- Stocks76%
- Funds5%
- Registered funds4%
- Pooled vehicles1%
- Bonds11%
- State and local bonds6%
- Investment grade corporate bonds3%
- U.S. government and agency bonds2%
- Cash8%
Reported 13F holdings
- $2.21B
- Reported 13F value
- 525
- Positions
- 32.0%
- In the 10 largest
- +1.0%
- Value vs. prior quarter
- Apple Inc.8.5%
- 3m CO3.7%
- Berkshire Hathaway Inc. Del · CL B New3.1%
- Alphabet Inc. · Cap Stk CL A3.0%
- Microsoft Corp.2.8%
- Amazon Com Inc.2.6%
- JPMORGAN Chase & CO2.4%
- Vanguard Index Fds · S&P 500 ETF Shs2.3%
- Caterpillar Inc.1.8%
- Exxon Mobil Corp.1.7%
Together, the ten largest are 32.0% of reported value.
How many clients does Parsons Capital Management have?
Parsons Capital Management has 746 clients and manages $2.38 billion for them, as of April 2026. They include 381 high-net-worth individuals, 314 individual clients and 26 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 April 2026
What services does Parsons Capital Management offer?
Parsons Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, estate planning, retirement plan services, and tax 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 Parsons Capital Management charge?
Parsons Capital Management charges 0.80%–1.00% a year for its Investment Management Services. The fee is billed in arrears and is negotiable.
Which custodians does Parsons Capital Management use?
Parsons Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.67B and National Financial Services LLC (Boston, MA), with $679M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 8 April 2026
How many financial advisors does Parsons Capital Management have?
Parsons Capital Management has 14 investment adviser representatives registered with state securities authorities, out of 22 employees, and 12 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 Parsons Capital Management invest in?
At the end of its last fiscal year, Parsons Capital Management’s separately managed accounts held 76% exchange-traded equities, 8% cash and equivalents, 6% state and local bonds, 4% registered funds (mutual funds, ETFs, BDCs), 3% investment grade corporate bonds, 2% U.S. government and agency bonds and 1% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Parsons Capital Management?
Parsons Capital Management’s direct owner is PCM Holdings Inc (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 8 April 2026
How does Parsons Capital Management get paid?
Parsons Capital Management 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
Is Parsons Capital Management registered with the SEC?
Yes, Parsons Capital Management has been registered with the SEC as an investment adviser since 23 November 1993. Its CRD number is 106295 and its SEC file number is 801-45209.
Source: Form ADV Part 1A, Item 1, filed 8 April 2026; IAPD firm record
How do I contact Parsons Capital Management?
Parsons Capital Management’s main office is at 40 Westminster Street, Ste 400, Providence, RI 02903. Its phone number is 401-521-2440. Its website is parsonscapital.com.