Apriem Advisors (Irvine)

Name: Apriem Advisors
Address: 19200 Von Karman Avenue, Irvine, CA, 92612
Telephone: (949) 253-8888

Apriem Advisors is a large advisory firm based in Irvine. It manages $697.43 million of regulatory assets for 2,041 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Arizona, California, Colorado, and 9 other states.

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

Apriem Advisors: assets under management

The assets under management (AUM) of Apriem Advisors is $697.43 million. The firm's AUM has grown by 36% since the beginning of its operation, and $6.55 million of the total AUM is attributable to clients outside of the United States.

The firm manages $645.41 million in discretionary accounts and $52.02 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $317 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $10.4 million.

Apriem Advisors has custody of $190.31 million in cash and securities for 272 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 44% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 32% of the firm’s portfolio. Investments in exchange traded securities form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Apriem Advisors for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 Apriem Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Apriem Advisors is high net worth individuals with 199 clients and $411.28 million of assets under management. Among the 9 most similar advisory firms, Apriem Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $624.44 million for 652 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Apriem Advisors doesn't advise any private funds.

Careers at Apriem Advisors

The company employs 15 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 10 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 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
Harmon Anson Kong	Secretary, cfo, treasurer, chief wealth manager, director, chief compliance officer, trustee of kong trust	1 Jan 1998	50% - 75%	1912783
The Kong Trust Dated 8 17 1998	Shareholder	1 Jan 1998	50% - 75%	xxx-xx-xxxx
Lea Theresa Kong	Trustee of kong trust	1 Aug 1998	50% - 75%	6687062
Truc Trong Le	Trustee of truc trong le trust	1 Jan 2000	Other	4368477
Truc Trong Le Trust Dated 11/5/1998	Shareholder	1 Jan 2000	Other	xxx-xx-xxxx
James Nolan Ducote	Trustee of ducote family trust	1 Aug 2001	Other	6687059
Rhonda Louise Ducote	President, senior wealth manager, director, trustee of ducote family trust	1 Jan 2010	Other	2596569
Benjamin C Lau	Vice president, chief investment officer, director, trustee of lau family trust	1 Jan 2010	Other	3171887
Ducote Family Trust Dated 8/28/2001	Shareholder	1 Jan 2010	Other	xxx-xx-xxxx
Lau Family Trust Dated 8/2/13	Shareholder	1 Jan 2010	Other	xxx-xx-xxxx
Wendy Youme Lau	Trustee of lau family trust	1 Aug 2013	Other	6687065
Landon M Yoshida	Trustee of yoshida family trust	1 Jan 2017	Other	4437118
Erica Miyeko Yoshida	Trustee of yoshida family trust	1 Jan 2017	Other	6930290
Yoshida Family Trust	Shareholder	1 Jan 2017	Other	xxx-xx-xxxx

Based in Irvine

The principal office where Apriem Advisors performs its advisory services is located at 19200 Von Karman Avenue, Irvine, CA 92612, which is also the mailing address of the firm. An additional office of the firm is in Torrance, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (949) 253-8888 or by fax (949) 253-8891. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at apriem.com.