PCM Encore provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 251–500 clients last fiscal year.
PCM Encore reports 176 clients. They include 104 high-net-worth individuals, 71 individual clients and 1 corporate or other business client. Of its assets, 100.0% ($2.05B across 798 accounts) are managed with discretion. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 40% | 2% |
| High-net-worth individuals | 59% | 90% |
| Corporations and other businesses | <1% | 8% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 71 | $39.8M | 1.9% | $561K |
| High-net-worth individuals | 104 | $1.84B | 90.1% | $17.7M |
| Corporations and other businesses | Fewer than 5 | $164M | 8.0% | $164M |
| Total | 176 | $2.05B | 100% | — |
- Clients
- 71
- Regulatory AUM
- $39.8M
- AUM share
- 1.9%
- Avg. per client
- $561K
- Clients
- 104
- Regulatory AUM
- $1.84B
- AUM share
- 90.1%
- Avg. per client
- $17.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $164M
- AUM share
- 8.0%
- Avg. per client
- $164M
Total
- Clients
- 176
- Regulatory AUM
- $2.05B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
PCM Encore charges 0.20%–1.25% a year for its Investment Management Fees. The fee is billed in arrears and is negotiable.
Fee details and sources
Michael Paulus owns 50% to 75% of PCM Encore. Michael Paulus is CEO; the leadership team includes Chief Compliance Officer Samuel Rice. It has 18 employees, 9 of them in advisory roles.
Leadership
- Michael PaulusManaging Member & Chief Executive Officer, Trustee of Paulus Family Irrevocable Trust
- Samuel RiceChief Compliance Officer
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Kyle Matthew Boucher
- Kate Brunori
- James Parker Ek
- John Joseph Gavin III
- Joseph Peter Hendrickson
- Daric Hugh Olson
- Michael James Paulus
- Samuel Levi Rice
- Logan Thomas Stelzner
- Alixandria Ann Tucci
Staff
- 18 employees
- 9 in advisory functions
- 9 state-registered reps
- 4 soliciting firms
- Owns 50% to 75% of PCM Encore, LLC
Michael Paulus
Control person · since September 2024
- Owns 25% to 50% of PCM Encore, LLC
Paulus Family Irrevocable Trust
Control person · since September 2024
PCM Encore’s regulatory assets grew 1.7× from $1.24B (June 2025) to $2.05B (September 2026); clients rose from 20 to 176 and employees from 9 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $2.05B | 176 | 18 | 11 |
| June 2025 | $1.24B | 20 | 9 | 6 |
Besides its headquarters, PCM Encore has 10 offices (5 private residences, listed without an address), with 6 listed addresses across 6 states.
California · 1 listed address
- Po Box 132, Folsom
Colorado · 1 listed address
- 520 E Cooper Ave., Ste. 7c, AspenHQ
Florida · 1 listed address
- 78 SW 7th St., Miami
New York · 1 listed address
- 430 Park Avenue, New York
Texas · 1 listed address
- 15305 Dallas Pkwy., Addison
Washington · 1 listed address
- 10900 Ne 4th Street, Bellevue
Other business names
PCM Encore has reported 2 other business names to the SEC.
- Encore
- Encore Investment
Contact and registration details
- Legal name
- PCM Encore, LLC
- Headquarters
- 520 E Cooper Ave., Ste. 7c, Aspen, CO 81611
- Website
- encoreinvestment.com
- Phone
- 425-214-1755
- @pcm-encore
- SEC file
- 801-131243
- Structure
- Delaware LLC
- Fiscal year end
- December
PCM Encore uses Morgan Stanley ($1.16B) as custodian for its separately managed accounts. PCM Encore has custody of $1.74B in client assets for 128 clients.
- Morgan StanleyMorgan Stanley Smith Barney LLC · Palo Alto, CA · $1.16B100%
At year end, PCM Encore’s separately managed accounts were mostly in stocks (56%) and funds (22%). Its reported 13F holdings for the quarter ended 30 June 2026 total $569M across 459 positions; the largest are Nvidia Corporation (4.6%), Apple Inc. (4.4%) and Alphabet Inc. (3.5%).
What the accounts hold
- Stocks56%
- Exchange-traded equities49%
- Non-exchange-traded equities7%
- Funds22%
- Registered funds20%
- Pooled vehicles2%
- Bonds3%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash2%
- Other18%
- Alternative assets18%
Reported 13F holdings
- $569M
- Reported 13F value
- 459
- Positions
- 29.0%
- In the 10 largest
- +17.1%
- Value vs. prior quarter
- Nvidia Corporation4.6%
- Apple Inc.4.4%
- Alphabet Inc. · Cap Stk CL A3.5%
- Microsoft Corp.3.0%
- Taiwan Semiconductor Manufac · Sponsored ADS2.9%
- Vanguard Index Fds · S&P 500 ETF Shs2.5%
- iShares TR · Russell 2000 ETF2.2%
- Amazon Com Inc.2.1%
- Broadcom Inc.1.9%
- Eli Lilly & CO1.9%
Together, the ten largest are 29.0% of reported value.
How many clients does PCM Encore have?
PCM Encore has 176 clients and manages $2.05 billion for them, as of September 2026. They include 104 high-net-worth individuals, 71 individual clients and 1 corporate or other business client.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 September 2026
What services does PCM Encore offer?
PCM Encore 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
How much does PCM Encore charge?
PCM Encore charges 0.20%–1.25% a year for its Investment Management Fees. The fee is billed in arrears and is negotiable.
Source: DISCLOSURE BROCHURE FOR PCM ENCORE, LLC, filed 13 October 2026
Which custodians does PCM Encore use?
PCM Encore’s separately managed account assets are held at Morgan Stanley Smith Barney LLC (Palo Alto, CA), with $1.16B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 September 2026
How many financial advisors does PCM Encore have?
PCM Encore has 9 investment adviser representatives registered with state securities authorities, out of 18 employees, and 9 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 PCM Encore invest in?
At the end of its last fiscal year, PCM Encore’s separately managed accounts held 49% exchange-traded equities, 20% registered funds (mutual funds, ETFs, BDCs), 18% other, 7% non-exchange-traded equities, 2% pooled vehicles (private funds and similar), 2% cash and equivalents, 1% U.S. government and agency bonds, 1% state and local bonds and 1% investment grade corporate bonds. The 18% other category is described as: Alternative Assets.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns PCM Encore?
PCM Encore’s direct owners are Michael Paulus (50% to 75%) and Paulus Family Irrevocable Trust (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 29 September 2026
How does PCM Encore get paid?
PCM Encore 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
Is PCM Encore registered with the SEC?
Yes, PCM Encore has been registered with the SEC as an investment adviser since 3 October 2024. Its CRD number is 333127 and its SEC file number is 801-131243.
Source: Form ADV Part 1A, Item 1, filed 29 September 2026; IAPD firm record
How do I contact PCM Encore?
PCM Encore’s main office is at 520 E Cooper Ave., Ste. 7c, Aspen, CO 81611. Its phone number is 425-214-1755. Its website is encoreinvestment.com.