Wealth manager, independent · Providence, RI
Parsons Capital Management Inc
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
- Regulatory AUM
- $2.4B
- Rank among independent wealth managers
- #474 of 5,657
- Rank among all SEC RIAs
- #3,282 of 17,210
- Rank in Rhode Island
- #1 of 27
- Individual clients
- 695
- High-net-worth clients
- 381
- Accounts
- 1,942
- Discretionary
- 99% of AUM
- Employees
- 22
- Advisory staff
- 12
- Offices
- 5
Owners and executives on its Form ADV
- Stacey L. SternbergChief Compliance Officer
- John H. MullenPresident
- John B. TrevorSecretary
- Charles B. ParsonsTreasurer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Parsons Capital Management Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| 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% |
Disciplinary disclosures
Parsons Capital Management Inc reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗parsonscapital.com ↗
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The full record on Parsons Capital Management Inc
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 1,685 peers of its type and size
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- Owners and executives, with titles and stakes
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- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Rhode Island
All of Rhode Island →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Young Richard C & Co LTDNewport | $1.8B | 798 |
| Capital Wealth Management, LLCWest Warwick | $1.1B | 603 |
Background
Questions
How much does Parsons Capital Management Inc manage?
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.
How many clients does Parsons Capital Management Inc have?
It reports 695 individual clients: 381 high-net-worth individuals and 314 other individuals. Individuals account for about 92% of its regulatory assets.
Where is Parsons Capital Management Inc headquartered?
Its main office is in Providence, Rhode Island. It reports 5 offices in total and 22 employees, 12 of whom perform investment advisory functions.
How does Parsons Capital Management Inc charge clients?
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.
What custodian does Parsons Capital Management Inc use?
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.
Is Parsons Capital Management Inc a hybrid RIA with a broker-dealer?
Parsons Capital Management Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Parsons Capital Management Inc a fiduciary?
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.
Where these numbers come from
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 →