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SEC data October 1, 2026
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SEC data October 1, 2026
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Sign in or start freeWealth manager, independent · Providence, RI
SEC-registered investment adviser · CRD 106295 · SEC 801-45209
At a glance
Parsons Capital Management Inc is an SEC-registered investment adviser based in Providence, Rhode Island, with $2.4B in regulatory assets under management as of its Form ADV filed April 8, 2026. It reports 695 individual clients, 381 of them high-net-worth, holding an average of about $3.1 million each, and 22 employees. That ranks it 474th among the nation’s 5,657 independent wealth management RIAs and 1st of 27 in Rhode Island. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 401-521-2440parsonscapital.comLinkedInAs filed on Form ADV
No broker-dealer ties
Parsons Capital Management Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 381 | $2.1B | 86% |
| Individuals | 314 | $128M | 5% |
| Charitable organizations | 26 | $128M | 5% |
| Corporations or other businesses | 14 | $52M | 2% |
| Pension and profit sharing plans | 11 | $16M | <1% |
Parsons Capital Management Inc reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
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| Firm | Regulatory AUM | Clients |
|---|---|---|
| Young Richard C & Co LTDNewport | $1.8B | 798 |
| Capital Wealth Management, LLCWest Warwick | $1.1B | 603 |
Parsons Capital Management Inc reports $2.4B in regulatory assets under management across 1,942 accounts, 99% of it on a discretionary basis, on its Form ADV filed April 8, 2026.
It reports 695 individual clients: 381 high-net-worth individuals and 314 other individuals. Individuals account for about 92% of its regulatory assets.
Its main office is in Providence, Rhode Island. It reports 5 offices in total and 22 employees, 12 of whom perform investment advisory functions.
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed April 8, 2026, it reports these amounts held: Charles Schwab ($1.7B); Fidelity ($679M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Parsons Capital Management Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
As an SEC-registered investment adviser, Parsons Capital Management Inc owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Every figure is Parsons Capital Management Inc’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-08), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →