Parallel Advisors
SEC-registered investment adviser in San Francisco, CaliforniaRegistered since 2007
Figures as filed with the SEC on 29 June 2026. Checked against the SEC's public record on 17 September 2026.
Parallel Advisors, LLC is a San Francisco-based, SEC-registered investment adviser reporting $10.31B in regulatory assets in its June 2026 Form ADV. Its brochure lists 0.30% to 1.25% a year; effective fee capped at 2.00% in advisory fees.
Assets and clients#
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 3,156 | $3,832,388,703 | 37.2% | $1.21M |
| High-net-worth individuals | 1,013 | $5,437,402,891 | 52.8% | $5.37M |
| Pension and profit-sharing plans | 39 | $909,681,237 | 8.8% | $23.3M |
| Charitable organizations | 8 | $24,927,499 | 0.2% | $3.12M |
| Other investment advisers | Not reported | $2,964,566 | 0.0% | — |
| Corporations and other businesses | 24 | $100,180,685 | 1.0% | $4.17M |
| Total | 4,240 | $10,307,545,581 | 100% | $2.43M |
- Regulatory AUM
- $3,832,388,703
- Share
- 37.2%
- Avg. per client
- $1.21M
- Regulatory AUM
- $5,437,402,891
- Share
- 52.8%
- Avg. per client
- $5.37M
- Regulatory AUM
- $909,681,237
- Share
- 8.8%
- Avg. per client
- $23.3M
- Regulatory AUM
- $24,927,499
- Share
- 0.2%
- Avg. per client
- $3.12M
- Regulatory AUM
- $2,964,566
- Share
- 0.0%
- Avg. per client
- —
- Regulatory AUM
- $100,180,685
- Share
- 1.0%
- Avg. per client
- $4.17M
Discretion
- Discretionary
- $10,303,921,867 across 4,240 accounts (100.0% of AUM)
- Non-discretionary
- $3,623,714 across 2 accounts (0.0%)
- Non-U.S. clients
- 2% of clients
- Non-AUM advisory clients
- 23 clients received advice without assets under management last fiscal year
Form ADV Part 1A, Items 5.D and 5.F. Fiscal year ends December; amendment filed 29 June 2026. View Item 5 in the filing
Reported holdings#
| Largest positions | Value | Share |
|---|---|---|
| ISHARES S&P 500 INDEXETF | $809,295,101 | 12.3% |
| CORCEPT THERAPEUTICS INC COMStock | $344,511,290 | 5.3% |
| APPLE INCStock | $290,350,910 | 4.4% |
| NVIDIA CORPStock | $230,937,641 | 3.5% |
| ISHARES CORE S&P TOTAL U.S. STOCK MARKET ETFETF | $181,806,160 | 2.8% |
- Share
- 12.3%
- Share
- 5.3%
- Share
- 4.4%
- Share
- 3.5%
- Share
- 2.8%
Form 13F lists long positions in exchange-traded securities over which the filer had investment discretion, valued at quarter end. It excludes cash, bonds held outside 13(f) securities, private funds, and assets the firm does not have discretion over, so the $6.56B reported here is not the firm's $10.31B in regulatory assets, and no client's portfolio looks like this table.
Form 13F-HR for the quarter ended 30 June 2026, filed 5 August 2026. View the filing on EDGAR
Fees#
| Service | How it is charged | Stated range |
|---|---|---|
| Investment advisory services | Negotiable tiered and blended percentage of market value of assets under management, generally billed quarterly in advance. | 0.30% to 1.25% a year; effective fee capped at 2.00% |
| Standalone financial planning and consulting | Negotiable hourly fee, based on the service scope and professionals rendering it. | Up to $1,000 an hour |
| Tax preparation and planning | Hourly fee that varies with scope and complexity. | Generally $310 an hour; $3,000 minimum |
- How it is charged
- Negotiable tiered and blended percentage of market value of assets under management, generally billed quarterly in advance.
- How it is charged
- Negotiable hourly fee, based on the service scope and professionals rendering it.
- How it is charged
- Hourly fee that varies with scope and complexity.
Separate charges
The brochure states that clients may pay brokerage commissions or transaction fees, fund-level expenses, and additional fees for private investment funds or independent managers in addition to the investment management fee.
Fee schedule and account minimum
Item 5 states that the investment advisory fee is generally tiered and blended from 0.30% to 1.25%, generally requires an annual minimum fee of $7,500, and caps the effective fee at 2.00% of assets under management. Item 4 describes the annual advisory fee as generally 0.25% to 1.50%; the Item 5 schedule provides the brochure’s detailed fee terms.
Performance-based fees
The brochure states that neither Parallel nor its supervised persons accepts performance-based fees.
Form ADV Part 2A brochure, Item 5, dated 26 June 2026. View Item 5 in the brochure
Custodians#
| Custodian | Location | SMA assets held | Share |
|---|---|---|---|
| Charles Schwab & Co., Inc. | Westlake, TX | $3,493,736,171 | 33.9% |
| National Financial Services LLC | Boston, MA | $5,415,457,199 | 52.5% |
| All other custodians | — | $1,398,352,211 | 13.6% |
- Location
- Westlake, TX
- Share
- 33.9%
- Location
- Boston, MA
- Share
- 52.5%
- Location
- —
- Share
- 13.6%
The brochure also names Charles Schwab & Co., Inc., Fidelity Brokerage Services as custodians the firm may recommend. Charles Schwab and National Financial Services each reported that they are not a related person of the firm.
Custody of client assets
Parallel reports custody of $2,223,432,486 for 1,244 clients. Its Part 2A brochure states that some client asset-transfer authorizations and other practices are subject to an annual surprise CPA examination; Schedule D identifies BPM LLP as the accountant.
Schedule D, Section 5.K.(3) lists every custodian holding 10% or more of separately managed account assets. View Section 5.K.(3) in the filing
Leadership and ownership#
| Name | Title | CRD |
|---|---|---|
 Jerry Rendic | Chief Executive Officer | 2250186 |
 Diane Gabianelli | Chief Financial Officer | 6452884 |
 Sangeetha Srinivasan | Chief Compliance Officer | 6801941 |
| Daniel Haspel | Elected Manager | 7091640 |
 Jacob Schutt | Chief Wealth Officer | 4588040 |
Jerry Rendic2250186- Title
- Chief Executive Officer
Diane Gabianelli6452884- Title
- Chief Financial Officer
Sangeetha Srinivasan6801941- Title
- Chief Compliance Officer
- Title
- Elected Manager
Jacob Schutt4588040- Title
- Chief Wealth Officer
Ownership chain
- Prism Acquisition, LLC
- Schedule A reports it as a member in the 75% or more ownership band, with control person status, since December 2022.
- Parallel Mergerco II-R, LLC
- Schedule A reports it as a member in the 10% to 25% ownership band, with control person status, since December 2022.
- Prism Intermediate Investments, LLC
- Schedule B reports it as a member of Prism Acquisition, LLC in the 75% or more ownership band, with control person status, since November 2022.
Schedules A and B. Ownership percentages are the SEC's reporting bands, not exact figures. View Schedule A in the filing
Offices and registrations#
- Branch offices
- 38 reported to IAPD; Part 1A lists 12 office addresses in at least 8 states
- SEC registration
- Approved 26 June 2007, file number 801-68107
- State notice filings
- 51 jurisdictions, most recently New Jersey, 19 April 2018
- Advisory staff
- 61 of 137 employees perform advisory functions; 0 are also broker-dealer registered representatives and 0 are licensed insurance agents
- Promoters
- 7 outside firms or persons solicit clients on the firm's behalf
Offices by state
- Arizona1
- California2
- Colorado2
- Hawaii1
- Nevada1
- North Carolina1
- Ohio1
- Texas3
Headquartered at 150 Spear Street, Suite 1600, San Francisco, CA 94105. Organized as a Delaware limited liability company. View Section 1.F in the filing
Other business and affiliations#
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Form ADV Part 1A, Items 6 and 7, and Schedule D. View Item 6 in the filing
Common questions#
What services does Parallel Advisors report?
Parallel states in its brochure that it provides discretionary investment advisory services and may provide financial planning, consulting, and tax preparation or planning services.
Source: Part 2A brochure, Items 4 and 5
What does Parallel Advisors charge for investment management?
Item 5 of its brochure states that its annual investment advisory fee is generally tiered and blended from 0.30% to 1.25% of assets under management, generally requires a $7,500 annual minimum, and caps the effective fee at 2.00%. Item 4 describes the fee as generally 0.25% to 1.50%.
Source: Part 2A brochure, Item 5
Which custodians does Parallel Advisors generally recommend?
The brochure states that, unless a client directs otherwise or circumstances require otherwise, Parallel generally recommends Charles Schwab and Co., Inc. and Fidelity Brokerage Services for client investment management accounts.
Source: Part 2A brochure, Item 12
Answered from the filings above.
Sources
- Form ADV Part 1A, amendment filed 29 June 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
- Form ADV Part 2A brochure, dated 26 June 2026. Items 4, 5, 7, 12 and 15.
- IAPD firm record, CRD 140800, compiled 30 June 2026.
Retrieved 17 September 2026. All three are published by the SEC and may have been amended since. The logo is reproduced for identification from Parallel Advisors, website.
Report a correctionThis profile is compiled from public regulatory filings and is provided for informational purposes only. Simple Money is not affiliated with Parallel Advisors, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.