Provence Registered Investment Advisor, LLC (Irvine)

Name: Provence Registered Investment Advisor, LLC
Address: 114 Pacifica Suite 220, Irvine, CA, 92618
Telephone: (949) 222-6400

Provence Registered Investment Advisor, LLC is a large advisory firm based in Irvine. It manages $158.86 million of regulatory assets for 211 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California and Texas.

Provence Registered Investment Advisor provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and publication of newsletters. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Provence Registered Investment Advisor: assets under management

The assets under management (AUM) of Provence Registered Investment Advisor, LLC is $158.86 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 58% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $158.86 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $752.88 thousand each.

Provence Registered Investment Advisor has custody of $67.26 million in cash and securities for 226 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Provence Registered Investment Advisor, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Provence Registered Investment Advisor serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Provence Registered Investment Advisor is high net worth individuals with 55 clients and $73.76 million of assets under management. Among the 10 most similar advisory firms, Provence Registered Investment Advisor has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $158.86 million for 211 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Provence Registered Investment Advisor doesn't advise any private funds.

Careers at Provence Registered Investment Advisor, LLC

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mike Scott Sheets	Managing member	1 Dec 2015	50% - 75%	4857563
Avinash Kochikar Pai	Managing member / chief compliance officer	1 Dec 2015	50% - 75%	4768029

Based in Irvine

The principal office where Provence Registered Investment Advisor, LLC performs its advisory services is located at 114 Pacifica Suite 220, Irvine, CA 92618, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (949) 222-6400 or by fax (949) 565-7275. The normal business hours are 8:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at facebook.com/provencewealth/.