Wealth manager, independent · Bethesda, MD
Pennington Partners & Co., LLC
SEC-registered investment adviser · CRD 282688 · SEC 801-107210
At a glance
Pennington Partners & Co., LLC is an SEC-registered investment adviser based in Bethesda, Maryland, with $5.1B in regulatory assets under management as of its Form ADV filed April 6, 2026. It reports 102 individual clients, 102 of them high-net-worth, holding an average of about $45 million each, and 36 employees. That ranks it 212th among the nation’s 5,657 independent wealth management RIAs and 5th of 104 in Maryland. It reports 2 custodians for its clients’ separately managed accounts: Fidelity and Charles Schwab.
Main office 202-370-6435penningtonpartners.coAs filed on Form ADV
- Regulatory AUM
- $5.1B
- Rank among independent wealth managers
- #212 of 5,657
- Rank among all SEC RIAs
- #2,075 of 17,210
- Rank in Maryland
- #5 of 104
- Individual clients
- 102
- High-net-worth clients
- 102
- Accounts
- 1,026
- Discretionary
- 48% of AUM
- Employees
- 36
- Advisory staff
- 10
- Offices
- 2
Owners and executives on its Form ADV
- Brian R. GaisterChief Executive Officer / Managing Member
- Rodd J. MacklinMember
- Guy A. ScottChief Compliance Officer
- Samuel G. RoseMember
Custody and brokerage
Broker-dealer
No broker-dealer ties
Pennington Partners & Co., LLC 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 | 102 | $4.6B | 90% |
| Pooled investment vehicles | 10 | $487M | 10% |
Private funds
Pennington Partners & Co., LLC reports 10 private funds with $487M in gross assets: hedge funds, private equity funds, real estate funds, liquidity funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Pennington Partners & Co., LLC 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 pooled investment vehicles
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗penningtonpartners.co ↗
AtlasMembers
The full record on Pennington Partners & Co., LLC
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, 9 years of filings
- Locked
- Growth over one, three and five years
- Locked
- Rank against 795 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Maryland
All of Maryland →| Firm | Regulatory AUM | Clients |
|---|---|---|
| D.F. Dent and Company, Inc.Baltimore | $7.9B | 1,011 |
| Greenspring Advisors, LLCTowson | $6.5B | 1,697 |
| T. Rowe Price Advisory Services, Inc.Owings Mills | $5.9B | 13,517 |
| Prosperity - AN Eisneramper CompanyOwings Mills | $5.0B | 2,369 |
| Heritage Investors Management CorpBethesda | $4.6B | 682 |
| Verdence Capital Advisors, LLCHunt Valley | $4.6B | 1,798 |
Background
Questions
How much does Pennington Partners & Co., LLC manage?
Pennington Partners & Co., LLC reports $5.1B in regulatory assets under management across 1,026 accounts, 48% of it on a discretionary basis, on its Form ADV filed April 6, 2026.
How many clients does Pennington Partners & Co., LLC have?
It reports 102 individual clients: 102 high-net-worth individuals and 0 other individuals. Individuals account for about 90% of its regulatory assets.
Where is Pennington Partners & Co., LLC headquartered?
Its main office is in Bethesda, Maryland. It reports 2 offices in total and 36 employees, 10 of whom perform investment advisory functions.
How does Pennington Partners & Co., LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Pennington Partners & Co., LLC use?
It reports 2 custodians for its clients’ separately managed accounts: Fidelity and Charles Schwab. On Schedule D of its Form ADV filed April 6, 2026, it reports these amounts held: Fidelity ($440M); Charles Schwab ($295M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Pennington Partners & Co., LLC a hybrid RIA with a broker-dealer?
Pennington Partners & Co., LLC reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Pennington Partners & Co., LLC a fiduciary?
As an SEC-registered investment adviser, Pennington Partners & Co., LLC 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 Pennington Partners & Co., LLC’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 (2026-04-06), 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 →