Penso Advisors provides portfolio management for pooled vehicles and portfolio management for institutions. The firm advises 1 private fund.
Penso Advisors reports 4 clients. They include 4 pooled investment vehicles. Of its assets, 5.8% ($61.2M across 4 accounts) are managed with discretion; $1B across 4 accounts are not. Of its clients, 75% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 90% |
| Other investment advisers | Fewer than 5 | 9% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 4 | $961M | 90.5% | $240M |
| Other investment advisers | Fewer than 5 | $100M | 9.4% | — |
| Corporations and other businesses | Fewer than 5 | $1.09M | 0.1% | — |
| Total | 4 | $1.06B | 100% | — |
- Clients
- 4
- Regulatory AUM
- $961M
- AUM share
- 90.5%
- Avg. per client
- $240M
- Clients
- Fewer than 5
- Regulatory AUM
- $100M
- AUM share
- 9.4%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.09M
- AUM share
- 0.1%
- Avg. per client
- —
Total
- Clients
- 4
- Regulatory AUM
- $1.06B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 75%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
Penso Advisors is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Penso Partners, LLC owns 75% or more of Penso Advisors and is in turn owned by Ari Bergmann (75% or more), Abib Family Partners, LTD (50–75%) and The Bergmann Children'S Trust (25–50%). The leadership team of Penso Advisors includes Chief Operating Officer Jaime Shechter and Chief Compliance Officer Leigh Waxman. It has 10 employees, 2 of them in advisory roles.
Leadership
- Jaime ShechterChief Operating Officer
- Leigh WaxmanChief Compliance Officer
- Ari BergmannPrincipal
Staff
- 10 employees
- 2 in advisory functions
- Owns 75% or more of Penso Advisors, LLC
Penso Partners, LLC
Control person · since February 2010
- Owns 75% or more of Penso Partners, LLC
Ari Bergmann
Control person · since February 2010
- Owns 50% to 75% of Penso Partners, LLC
Abib Family Partners, LTD
since February 2010
- Owns 75% or more of Abib Family Partners, LTD
Abib Family Trust
since December 1999
Corporate Management & Business Services Limited (CMBS)
Trustee · since December 2006
- Owns 25% to 50% of Penso Partners, LLC
The Bergmann Children'S Trust
since February 2010
Iona Bergmann
Trustee · since December 1995
Dustin Barzell
Trustee · since January 2026
- Owns 5% to 10% of Penso Advisors, LLC
Penso Manager, LLC
Control person · since February 2010
Penso Advisors’ regulatory assets went from $1.11B (April 2021) to $1.06B (March 2026); clients fell from 5 to 4 and employees from 13 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.06B | 4 | 10 | 2 |
| March 2025 | $1.23B | 7 | 11 | 2 |
| March 2024 | $890M | 8 | 12 | 2 |
| June 2023 | $1.24B | 8 | 11 | 2 |
| March 2022 | $1.18B | 5 | 11 | 2 |
| April 2021 | $1.11B | 5 | 13 | 2 |
Besides its headquarters, Penso Advisors has 1 office, with 2 listed addresses in New York.
New York · 2 listed addresses
- 780 Third Avenue, 12th Floor, New YorkHQ
- 68 Carman Avenue, Cedarhurst
Contact and registration details
- Legal name
- Penso Advisors, LLC
- Headquarters
- 780 Third Avenue, 12th Floor, New York, NY 10017
- Website
- penso.com
- Phone
- 212-688-8800
- @penso-advisors
- SEC file
- 801-74297
- Structure
- Delaware LLC
- Fiscal year end
- December
Penso Advisors uses J.P. Morgan ($100M, 99%), Morgan Stanley ($814K, 1%) and Safra Securities ($274K, 0%) as custodians for its separately managed accounts. Penso Advisors does not have custody of client assets.
- J.P. MorganJ.P. Morgan Clearing Corp. · New York, NY · $100M99%
- Morgan StanleyMorgan Stanley Smith Barney LLC · New York, NY · $814K1%
- Safra SecuritiesSafra Securities LLC · New York, NY · $274K0%
What the accounts hold
- Other100%
- Raum of assets held at client (see miscellaneous notes)99%
- Derivatives1%
How many clients does Penso Advisors have?
Penso Advisors has 4 clients and manages $1.06 billion for them, as of March 2026. They include 4 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Penso Advisors offer?
Penso Advisors provides 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 Penso Advisors use?
Penso Advisors’ separately managed account assets are held at J.P. Morgan Clearing Corp. (New York, NY), with $100M, Morgan Stanley Smith Barney LLC (New York, NY), with $814K and Safra Securities LLC (New York, NY), with $274K. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Penso Advisors have?
Penso Advisors has 0 investment adviser representatives registered with state securities authorities, out of 10 employees, and 2 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 Penso Advisors invest in?
At the end of its last fiscal year, Penso Advisors’ separately managed accounts held 99% other and 1% derivatives. The 99% other category is described as: Raum of Assets Held at Client (See Miscellaneous Notes). It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Penso Advisors?
Penso Advisors is owned through a holding company by Ari Bergmann. Its direct owners are Penso Partners, LLC (75% or more) and Penso Manager, LLC (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Penso Advisors get paid?
Penso Advisors 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 Penso Advisors?
Penso Advisors’ main office is at 780 Third Avenue, 12th Floor, New York, NY 10017. Its phone number is 212-688-8800. Its website is penso.com.