Private Asset Management provides financial planning, portfolio management for individuals and small businesses, and publishing newsletters. Financial planning was provided to 51–100 clients last fiscal year.
Private Asset Management reports 60 clients. They include 40 high-net-worth individuals and 20 individual clients. Of its assets, 72.7% ($79.6M across 120 accounts) are managed with discretion; $29.9M across 57 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 33% | 8% |
| High-net-worth individuals | 67% | 92% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 20 | $8.43M | 7.7% | $421K |
| High-net-worth individuals | 40 | $101M | 92.3% | $2.53M |
| Total | 60 | $109M | 100% | $1.82M |
- Clients
- 20
- Regulatory AUM
- $8.43M
- AUM share
- 7.7%
- Avg. per client
- $421K
- Clients
- 40
- Regulatory AUM
- $101M
- AUM share
- 92.3%
- Avg. per client
- $2.53M
Total
- Clients
- 60
- Regulatory AUM
- $109M
- AUM share
- 100%
- Avg. per client
- $1.82M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Private Asset Management charges 0.35%–1.00% a year for its Wealth Management. The fee is billed in arrears, is negotiable and has a $10,000 annual minimum. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Hourly Investment Advice
- Hourly advice on assets not supervised on an ongoing basis, billed directly to the client at an hourly rate that will not exceed $375.
Michael Thayer owns 75% or more of Private Asset Management. The leadership team of Private Asset Management includes President Michael Thayer. It has 4 employees.
Leadership
- Michael ThayerPresident
- Michael ThayerChief Compliance Officer
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 4 employees
- 4 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Private Asset Management Inc
Michael Thayer
Control person · since July 1996
Private Asset Management’s regulatory assets fell from $151M (March 2021) to $109M (April 2026); clients fell from 97 to 60 and employees were 4 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $109M | 60 | 4 | 1 |
| May 2025 | $105M | 79 | 3 | 1 |
| February 2024 | $169M | 106 | 3 | 1 |
| March 2023 | $167M | 106 | 3 | 1 |
| March 2022 | $169M | 94 | 3 | 1 |
| March 2021 | $151M | 97 | 4 | 1 |
Besides its headquarters, Private Asset Management has 0 offices, with 1 listed address in Washington.
Washington · 1 listed address
- 4040 Lake Washington BLVD Ne, #305, KirklandHQ
Contact and registration details
- Legal name
- Private Asset Management Inc
- Headquarters
- 4040 Lake Washington BLVD Ne, #305, Kirkland, WA 98033
- Website
- privateasset.com
- Phone
- 425-213-1600
- SEC file
- 801-52507
- Structure
- Washington corporation
- Fiscal year end
- December
Private Asset Management uses Charles Schwab ($108M) as custodian for its separately managed accounts. Private Asset Management has custody of $82.9M in client assets for 46 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $108M100%
At year end, Private Asset Management’s separately managed accounts were mostly in funds (73%) and bonds (14%).
What the accounts hold
- Stocks2%
- Funds73%
- Bonds14%
- Cash3%
- Other8%
- Alternatives and real estate8%
How many clients does Private Asset Management have?
Private Asset Management has 60 clients and manages $109 million for them, as of April 2026. They include 40 high-net-worth individuals and 20 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026
What services does Private Asset Management offer?
Private Asset Management provides financial planning, portfolio management for individuals and small businesses, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Private Asset Management charge?
Private Asset Management charges 0.35%–1.00% a year for its Wealth Management. The fee is billed in arrears, is negotiable and has a $10,000 annual minimum.
Source: PRIVATE ASSET MANAGEMENT, INC. ADV PART 2A MAR 31, 2026, filed 30 April 2026
Which custodians does Private Asset Management use?
Private Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $108M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 April 2026
How many financial advisors does Private Asset Management have?
Private Asset Management has 2 investment adviser representatives registered with state securities authorities, out of 4 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
What does Private Asset Management invest in?
At the end of its last fiscal year, Private Asset Management’s separately managed accounts held 73% registered funds (mutual funds, ETFs, BDCs), 14% U.S. government and agency bonds, 8% other, 3% cash and equivalents and 2% exchange-traded equities. The 8% other category is described as: Alternatives and Real Estate.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Private Asset Management?
Private Asset Management’s direct owner is Michael Thayer (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026
How does Private Asset Management get paid?
Private Asset 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
How do I contact Private Asset Management?
Private Asset Management’s main office is at 4040 Lake Washington BLVD Ne, #305, Kirkland, WA 98033. Its phone number is 425-213-1600. Its website is privateasset.com.