{"url":"https://nivawealth.com/firms/penso-advisors-158297","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/158297","regulatoryAum":1061821178,"crd":"158297","history":[{"filedOn":"2021-04-27","regulatoryAum":1108271208,"clients":5,"employees":13,"offices":2},{"filedOn":"2022-03-29","regulatoryAum":1177547248,"clients":5,"employees":11,"offices":2},{"filedOn":"2023-06-30","regulatoryAum":1236791480,"clients":8,"employees":11,"offices":2},{"filedOn":"2024-03-28","regulatoryAum":889950567,"clients":8,"employees":12,"offices":2},{"filedOn":"2025-03-31","regulatoryAum":1233719715,"clients":7,"employees":11,"offices":2},{"filedOn":"2026-03-31","regulatoryAum":1061821178,"clients":4,"employees":10,"offices":2}],"secFileNumber":"801-74297","legalName":"Penso Advisors, LLC","displayName":"Penso Advisors","slug":"penso-advisors-158297","website":"https://penso.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/158297/78d2e0ac4eabba9c-r1.webp","tone":"light","width":533,"height":200,"sourceUrl":"https://www.penso.com/","sourceLabel":"Penso Advisors, LLC, website"},"classification":{"segment":"private_funds","segmentLabel":"Private funds","type":"private_fund_manager","typeLabel":null,"feeDisclosure":"payment_only"},"linkedinUrl":"https://www.linkedin.com/company/penso-advisors/","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"780 Third Avenue, 12th Floor","city":"New York","state":"NY","stateName":"New York","country":"United States","postalCode":"10017"},"tradeNames":[],"registration":{"secApproved":"20 March 2012","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":null,"staff":{"employees":10,"advisory":2,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":1061821178,"discretionary":61218428,"discretionaryAccounts":4,"nonDiscretionary":1000602750,"nonDiscretionaryAccounts":4,"wrapProgram":null,"nonUsClientsPct":75,"nonAumClients":0},"clientTypes":[{"label":"Pooled investment vehicles","clients":4,"regulatoryAum":960733328},{"label":"Other investment advisers","clients":null,"fewerThan5":true,"regulatoryAum":100000000},{"label":"Corporations and other businesses","clients":null,"fewerThan5":true,"regulatoryAum":1087850}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"J.P. Morgan Clearing Corp.","shortName":"J.P. Morgan","location":"New York, NY","smaAssets":100000000},{"name":"Morgan Stanley Smith Barney LLC","shortName":"Morgan Stanley","location":"New York, NY","smaAssets":813850},{"name":"Safra Securities LLC","shortName":"Safra Securities","location":"New York, NY","smaAssets":274000}],"custodyNote":"Penso Advisors does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Jaime Shechter","title":"Chief Operating Officer","crd":"4422906"},{"name":"Leigh Waxman","title":"Chief Compliance Officer","crd":"5073549"},{"name":"Ari Bergmann","title":"Principal","crd":"1785914"}],"ownership":[{"label":"Penso Partners, LLC","detail":"Member in the 75% or more ownership band and a control person, since February 2010."},{"label":"Penso Manager, LLC","detail":"Member in the 5% to 10% ownership band and a control person, since February 2010."},{"label":"Ari Bergmann","detail":"Indirect owner: member of Penso Partners, LLC and a control person, since February 2010. Also a member of Penso Manager, LLC in the 75% or more band and a control person, since February 2010.","parent":"Penso Partners, LLC"},{"label":"Abib Family Partners, LTD","detail":"Indirect owner: a member of Penso Partners, LLC in the 50% to 75% band, since February 2010.","parent":"Penso Partners, LLC"},{"label":"The Bergmann Children'S Trust","detail":"Indirect owner: a member of Penso Partners, LLC in the 25% to 50% band, since February 2010.","parent":"Penso Partners, LLC"},{"label":"Abib Family Trust","detail":"Indirect owner: a owner of 99% of abib family partners, ltd of Abib Family Partners, LTD in the 75% or more band, since December 1999.","parent":"Abib Family Partners, LTD"},{"label":"Iona Bergmann","detail":"Indirect owner: trustee of The Bergmann Children'S Trust, since December 1995.","parent":"The Bergmann Children'S Trust"},{"label":"Corporate Management & Business Services Limited (CMBS)","detail":"Indirect owner: trustee of Abib Family Trust, since December 2006.","parent":"Abib Family Trust"},{"label":"Dustin Barzell","detail":"Indirect owner: trustee of The Bergmann Children'S Trust, since January 2026. Also trustee of Abib Family Trust, since January 2026.","parent":"The Bergmann Children'S Trust"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":0},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"New York","offices":2,"addresses":[{"street":"780 Third Avenue, 12th Floor","city":"New York","headquarters":true},{"street":"68 Carman Avenue","city":"Cedarhurst"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"212-688-8800","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)","Performance-based fees"],"activities":["Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":null,"assetMix":[{"label":"Derivatives","percent":1},{"label":"Other","percent":99,"detail":"Raum of Assets Held at Client (See Miscellaneous Notes)"}],"privateFunds":1},"sources":{"adv1FilingDate":"31 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/158297/PDF/158297.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Penso Advisors have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Penso Advisors offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Penso Advisors use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Penso Advisors have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Penso Advisors invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Penso Advisors?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Penso Advisors get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Penso Advisors?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 31 March 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."}