Richards, Merrill & Peterson, Inc. (Spokane)

Name: Richards, Merrill & Peterson, Inc.
Address: 422 West Riverside Ave, Spokane, WA, 99201
Telephone: 509-624-3174

Richards, Merrill & Peterson, Inc. is a large advisory firm based in Spokane. It manages $115.07 million of regulatory assets for 470 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Arizona, California, Idaho, Texas, and Washington.

Richards, Merrill & Peterson provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Richards, Merrill & Peterson: assets under management

The assets under management (AUM) of Richards, Merrill & Peterson, Inc. is $115.07 million. The firm's AUM has grown by 10% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $59.44 million in discretionary accounts and $55.63 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $179.58 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $400.2 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment and business development companies, which make up 33% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Richards, Merrill & Peterson, Inc. for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Richards, Merrill & Peterson serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Richards, Merrill & Peterson is individuals with 407 clients and $58.31 million of assets under management. Among the 5 most similar advisory firms, Richards, Merrill & Peterson has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $90.51 million for 467 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.

Richards, Merrill & Peterson doesn't advise any private funds.

Careers at Richards, Merrill & Peterson, Inc.

The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 6 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Richard Larson	Cco & ceo	1 Jan 2010	25% - 50%	1029292
John Scott Larson	President coo & co-cco	1 Jan 2010	25% - 50%	1368801
Thomas Lee Mcdonald	Vice president, c.f.o.	1 Jan 2010	Other	1195608
Monique Celeste Corigliano	Registered representative	1 Mar 2011	Other	1497927

Based in Spokane

The principal office where Richards, Merrill & Peterson, Inc. performs its advisory services is located at 422 West Riverside Ave, Spokane, WA 99201, 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 509-624-3174 or by fax 509-455-6392. The normal business hours are 6:30a.m. to 4:00p.m. on Monday - Friday. You can find more information about the New York firm at rmpinvest.com.