Monterey Private Wealth, Inc. (Monterey)

Name: Monterey Private Wealth, Inc.
Address: 2340 Garden Road, Monterey, CA, 93940
Telephone: (831) 372-3426

Monterey Private Wealth, Inc. is a large advisory firm based in Monterey. It manages $516.01 million of regulatory assets for 1,532 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Arizona, California, Idaho, and 4 other states.

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

Monterey Private Wealth: assets under management

The assets under management (AUM) of Monterey Private Wealth, Inc. is $516.01 million. The firm's AUM has grown by 138% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $478.42 million in discretionary accounts and $37.6 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $362.16 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $178.18 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 85% of the total AUM. The second-largest asset type is exchange traded securities, which make up 7% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Monterey Private Wealth, Inc. 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 Monterey Private Wealth serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Monterey Private Wealth is high net worth individuals with 189 clients and $361.58 million of assets under management. Among the 10 most similar advisory firms, Monterey Private Wealth has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $516.01 million for 500 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.

Monterey Private Wealth doesn't advise any private funds.

Careers at Monterey Private Wealth, Inc.

The company employs 13 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 9 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 compensates 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 Charles Merrell	Principal	1 Jun 2001	25% - 50%	1546736
2005 Steven And Jeanne Merrell Family Trust Utd March 18	Shareholder	1 Jun 2001	25% - 50%	xxx-xx-xxxx
Gary Eugene Douglas Alt	Principal; chief compliance officer	1 May 2003	25% - 50%	4658169
The Gary & Sheila Alt 2000 Family Trust	Shareholder	1 May 2003	25% - 50%	xxx-xx-xxxx
Kenneth Burton Petersen	Principal	1 Jun 2011	25% - 50%	1678498
Cristofer Andres Cabanillas	Principal	1 Jun 2011	Other	4048836
Cristofer Andres Cabanillas	Principal	1 Mar 2013	Other	4048836

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Jeanne Marie Merrell	Trustee of the steven & jeanne merrell family trust	1 Jun 2001	50% - 75%	4440578
Sheila Edith Alt	Trustee of the gary & sheila alt 2000 family trust	1 May 2003	50% - 75%	4783556

Based in Monterey

The principal office where Monterey Private Wealth, Inc. performs its advisory services is located at 2340 Garden Road, Monterey, CA 93940, which is also the mailing address of the firm. An additional office of the firm is in Pleasanton, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (831) 372-3426 or by fax (831) 372-2964. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at smartnestegg.com.