Robertson Stephens
SEC-registered investment adviser in San Francisco, CaliforniaRegistered since 2017
Figures as filed with the SEC on 4 September 2026. Checked against the SEC's public record on 17 September 2026.
Robertson Stephens Wealth Management, LLC is a San Francisco-based, SEC-registered investment adviser reporting $8.76B in regulatory assets in its September 2026 Form ADV. Its brochure lists 0.10% to 2.00% a year in advisory fees.
Assets and clients#
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 1,256 | $6,725,097,902 | 76.7% | $5.35M |
| Individuals (other than HNW) | 980 | $379,896,691 | 4.3% | $388K |
| Pension and profit-sharing plans | 38 | $1,384,275,006 | 15.8% | $36.4M |
| Charitable organizations | 10 | $118,625,639 | 1.4% | $11.9M |
| Corporations and other businesses | 11 | $156,074,736 | 1.8% | $14.2M |
| Total | 2,295 | $8,763,969,974 | 100% | $3.82M |
- Regulatory AUM
- $6,725,097,902
- Share
- 76.7%
- Avg. per client
- $5.35M
- Regulatory AUM
- $379,896,691
- Share
- 4.3%
- Avg. per client
- $388K
- Regulatory AUM
- $1,384,275,006
- Share
- 15.8%
- Avg. per client
- $36.4M
- Regulatory AUM
- $118,625,639
- Share
- 1.4%
- Avg. per client
- $11.9M
- Regulatory AUM
- $156,074,736
- Share
- 1.8%
- Avg. per client
- $14.2M
Discretion
- Discretionary
- $6,992,879,444 across 8,242 accounts (79.8% of AUM)
- Non-discretionary
- $1,771,090,530 across 350 accounts (20.2%)
- Non-U.S. clients
- 1% of clients
- Non-AUM advisory clients
- 90 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 4 September 2026. View Item 5 in the filing
Reported holdings#
| Largest positions | Value | Share |
|---|---|---|
| VANGUARD INDEX FDSS&P 500 ETF SHS | $456,961,871 | 11.3% |
| VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT | $207,890,241 | 5.1% |
| VANGUARD SPECIALIZED FUNDSDIV APP ETF | $181,754,213 | 4.5% |
| APPLE INCCOM | $141,879,509 | 3.5% |
| APPLOVIN CORPCOM CL A | $125,040,653 | 3.1% |
- Share
- 11.3%
- Share
- 5.1%
- Share
- 4.5%
- Share
- 3.5%
- Share
- 3.1%
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 $4.06B reported here is not the firm's $8.76B in regulatory assets, and no client's portfolio looks like this table.
Form 13F-HR for the quarter ended 30 June 2026, filed 29 July 2026. View the filing on EDGAR
Fees#
| Service | How it is charged | Stated range |
|---|---|---|
| Investment management | Typical annual range as a percentage of assets under management, billed quarterly in advance or arrears | 0.10% to 2.00% a year |
| Financial planning | Hourly, annual flat-fee installments, flat fee, or a fee based on marketable net worth | $250 to $500 an hour; $500 to $100,000 annually; or $2,500 to $50,000 per plan |
| Tax management services | One-time fee or quarterly fee for ongoing services | Typically $500 to $10,000 per tax year |
- How it is charged
- Typical annual range as a percentage of assets under management, billed quarterly in advance or arrears
- How it is charged
- Hourly, annual flat-fee installments, flat fee, or a fee based on marketable net worth
- How it is charged
- One-time fee or quarterly fee for ongoing services
Additional costs
The brochure states that clients may separately pay fees of money managers, sub-advisors, funds, custodians, broker-dealers, and mutual funds, including transaction fees, commissions, and expenses.
Account minimum
The brochure does not state a minimum account size or relationship minimum in Item 7.
Form ADV Part 2A brochure, Item 5, dated 31 March 2026. View Item 5 in the brochure
Custodians#
| Custodian | Location | SMA assets held | Share |
|---|---|---|---|
| Charles Schwab & Co., Inc. | Westlake, TX | $3,548,439,836 | 40.5% |
| Fidelity Brokerage Services LLC | Smithfield, RI | $3,171,443,496 | 36.2% |
| All other custodians | — | $2,044,086,642 | 23.3% |
- Location
- Westlake, TX
- Share
- 40.5%
- Location
- Smithfield, RI
- Share
- 36.2%
- Location
- —
- Share
- 23.3%
The brochure also names Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC as custodians the firm may recommend. Charles Schwab and Fidelity each reported that they are not a related person of the firm.
Custody of client assets
Robertson Stephens reports custody of $3,812,113,315 for 1,784 clients and reports three qualified custodians in connection with its advisory services.
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 |
|---|---|---|
 Rajarshi Bhattacharyya | Chief Executive Officer | 2557746 |
 Stuart Katz | Chief Investment Officer | 2786118 |
| Vikram Chugh | Chief Operating Officer | 4908766 |
 David Westbrook | Chief Financial Officer | 5502571 |
 Michael James Curley | Chief Compliance Officer | 2197705 |
Rajarshi Bhattacharyya2557746- Title
- Chief Executive Officer
Stuart Katz2786118- Title
- Chief Investment Officer
- Title
- Chief Operating Officer
David Westbrook5502571- Title
- Chief Financial Officer
Michael James Curley2197705- Title
- Chief Compliance Officer
Ownership chain
- Direct owner
- Robertson Stephens Holdings, LLC is reported as the managing member holding 75% or more of the adviser since August 2017.
- Holdings owner
- LAC INV - RS LLC is reported as holding a 25% to 50% band in Robertson Stephens Holdings, LLC since August 2017.
- Indirect owners
- The Schedule B ownership chain reports Long Arc Capital GP LLC as general partner and Gaurav Bhandari as manager and sole member of that entity.
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
- 70 reported to IAPD; Part 1A lists 21 office addresses in at least 13 states
- SEC registration
- Approved 11 October 2017, file number 801-111814
- State notice filings
- 31 jurisdictions, most recently Wisconsin, 4 September 2026
- Advisory staff
- 67 of 118 employees perform advisory functions; 27 are also broker-dealer registered representatives and 14 are licensed insurance agents
- Promoters
- 7 outside firms or persons solicit clients on the firm's behalf
Offices by state
- California6
- Colorado2
- Idaho2
- New Jersey2
- Connecticut1
- Illinois1
- Massachusetts1
- New York1
- Oregon1
- Rhode Island1
- Texas1
- Washington1
- Wyoming1
Headquartered at 455 Market Street, Suite 1450, San Francisco, CA 94105-2442. Organized as a Delaware limited liability company. The brochure dates the firm's founding to 2017. View Section 1.F in the filing
Other business and affiliations#
- Other products and services
- Schedule D reports tax preparation. The brochure also describes tax management and compliance services, insurance activity through affiliated and third-party agencies, and brokerage activity through the affiliated broker-dealer.
- Financial industry affiliations
- The Form ADV reports related persons, including a broker-dealer, an insurance agency, and entities sponsoring or managing pooled investment vehicles.
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#
How much does Robertson Stephens charge?
Robertson Stephens' brochure states that investment-management fees typically range from 0.10% to 2.00% a year and are charged quarterly. It lists separately charged planning fees of $250 to $500 an hour, $500 to $100,000 a year, or $2,500 to $50,000 per plan, depending on the engagement.
Does Robertson Stephens earn commissions?
Its Form ADV reports 27 employees registered as broker-dealer representatives and 14 licensed insurance agents. The brochure states that affiliated broker-dealer representatives may receive brokerage compensation and that insurance-licensed employees may receive commissions on insurance sales outside advisory accounts.
Where are client assets held?
Schedule D identifies Charles Schwab and Fidelity as custodians each holding 10% or more of separately managed account assets: approximately $3.55 billion and $3.17 billion, respectively.
Source: Schedule D, Section 5.K.(3)
Who owns Robertson Stephens?
Schedule A reports Robertson Stephens Holdings, LLC as the managing member holding 75% or more of the adviser. Schedule B reports an ownership chain through LAC INV - RS LLC, LAC RS Manager, LLC, LAC Holdings (Carryco), LP, LAC Partners (Carryco), LP, and Long Arc Capital GP LLC.
What is the minimum to become a client?
The Part 2A brochure describes the client types Robertson Stephens serves but does not state a minimum account size or relationship minimum in Item 7.
Answered from the filings above.
Sources
- Form ADV Part 1A, amendment filed 4 September 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
- Form ADV Part 2A brochure, dated 31 March 2026. Items 4, 5, 7, 12 and 15.
- IAPD firm record, CRD 289977, compiled 5 September 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 Robertson Stephens, website.
Report a correctionThis profile is compiled from public regulatory filings and is provided for informational purposes only. Simple Money is not affiliated with Robertson Stephens Wealth Management, 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.