Veris Wealth Partners, LLC (San Francisco)

Name: Veris Wealth Partners, LLC
Address: 235 Montgomery Street, San Francisco, CA, 94104
Telephone: (415) 814-0580

Veris Wealth Partners, LLC is a large advisory firm based in San Francisco. It manages $1.13 billion of regulatory assets for 1,731 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Colorado, and 15 other states.

Veris Wealth Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and investment consulting. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Veris Wealth Partners: assets under management

The assets under management (AUM) of Veris Wealth Partners, LLC is $1.13 billion. The firm's AUM has grown by 247% since the beginning of its operation, and $6.22 million of the total AUM is attributable to clients outside of the United States.

The firm manages $991.47 million in discretionary accounts and $142.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $619.67 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.09 million.

Veris Wealth Partners has custody of $537.36 million in cash and securities for 226 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is investment and business development companies, which make up 36% of the firm’s portfolio. Investments in pooled investment vehicles form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Veris Wealth Partners, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Veris Wealth Partners serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Veris Wealth Partners is high net worth individuals with 165 clients and $831.2 million of assets under management. Among the 9 most similar advisory firms, Veris Wealth Partners has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.13 billion for 302 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.

Veris Wealth Partners also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Veris Wealth Partners, LLC

The company employs 17 people that are either part- or full-time employees. 53 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Stephanie Cohn Rupp joined the executive team most recently as the Chief Operations Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Anders Faijersson Ferguson	Director of development	1 Jan 2007	Other	5337184
Patricia Farrar Rivas	Chief executive officer	1 Jan 2007	25% - 50%	2305714
Michael Lent	Chief financial officer	1 Jul 2007	Other	2396198
Patricia Farrar Rivas	Chief executive officer	1 Jul 2007	Other	2305714
Steve Harvey Fahrer	Chief compliance officer	1 Jul 2007	Other	2478118
David Emery Hills	Partner	1 Sep 2007	Other	1222601
Patricia Farrar Rivas	Chief compliance officer	1 Jan 2010	Other	2305714
Steve Harvey Fahrer	Partner	1 Jan 2010	Other	2478118
Luis Armando Rivas	Chief operations officer	1 Sep 2011	Other	5989048
Patricia Farrar Rivas	Chief executive officer	1 Jul 2016	Other	2305714
Luis Armando Rivas	Chief operations officer/chief compliance officer	1 Jul 2016	Other	5989048
Nicole Mariko Davis	Senior wealth manager	1 Jan 2018	Other	7090243
Lori Kim Choi	Senior wealth manager	1 Jan 2018	Other	7090253
Alison Lyn Pyott	Chief operations officer	1 Jan 2018	Other	2562470
Stephanie Cohn Rupp	Chief operations officer	1 Aug 2019	Other	4997262

Based in San Francisco

The principal office where Veris Wealth Partners, LLC performs its advisory services is located at 235 Montgomery Street, San Francisco, CA 94104, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (415) 814-0580 or by fax (415) 413-0685. The normal business hours are 9am to 6pm on Monday - Friday. You can find more information about the New York firm at veriswp.com.