Freestone Capital Management, LLC (Seattle)


Freestone Capital Management, LLC is a large advisory firm based in Seattle. It manages $4.69 billion of regulatory assets for 8,250 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alaska, Arizona, California, and 20 other states.

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Freestone Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for approximately 2,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Freestone Capital Management: assets under management

The assets under management (AUM) of Freestone Capital Management, LLC is $4.69 billion. The firm's AUM has grown by 146% since the beginning of its operation, and $1.05 million of the total AUM is attributable to clients outside of the United States.


The firm manages $4.04 billion in discretionary accounts and $647.59 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $620.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $373.68 thousand.
Freestone Capital Management has custody of $42.18 million in cash and securities for 22 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is investment and business development companies, which make up 12% 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 Freestone Capital Management, LLC for their services and products based on a percentage of assets under management, commissions, 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 Erik Konrad Morgan serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Erik Konrad Morgan is high net worth individuals with 1,190 clients and $2.71 billion of assets under management. Among the 9 most similar advisory firms, Freestone Capital Management has the highest percentage of high net worth individuals out of all clients.


The amount of regulatory assets under management is $4.69 billion for 1,874 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.

Freestone Capital Management also advises several private funds. Namely, thirteen hedge funds. The minimum investment commitment required of non-related persons ranges from $200,000 to $1,000,000.

Careers at Freestone Capital Management, LLC

The company employs 66 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 26 employees are registered as investment adviser representatives with the state securities authorities.

There are 12 people 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.

Erik Konrad Morgan has been acting as President since 1 Mar 2008. Gary Isaac Furukawa has served as the Chief Investment Officer since 1 Mar 2009 and Scott Trimble Svenson is the Chief Executive Officer of Freestone Capital Management, LLC family office. Bruce Wayne Milam joined the executive team most recently as the Managing Director Of Operations.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Janice Marie Greene Chief compliance officer 1 Apr 2001 Other 1188770
Freestone Capital Holdings Llc Member 1 Mar 2008 75% - 100% 261341800
Gary Isaac Furukawa Chairman and chief investment officer 1 Mar 2008 Other 1094815
Erik Konrad Morgan President 1 Mar 2008 Other 2207063
Kevin Ira Patrick Managing director of administration and operations 1 Mar 2008 Other 1832652
Gilbert Schuyler Havens Chief financial officer 1 Mar 2008 Other 2508109
James Monroe Barnyak Chief operating officer 1 Oct 2008 Other 1238014
Gary Isaac Furukawa Chief investment officer 1 Mar 2009 Other 1094815
Scott Trimble Svenson Chief executive officer 1 Mar 2009 Other 1869969
Kelly Ann Allison Managing director, finance and accounting 1 Feb 2010 Other 5732457
Kevin Ira Patrick Managing director, administration and operations; chief compliance officer 1 Jan 2011 Other 1832652
Eric Scott Martinez Chief compliance officer 1 Feb 2011 Other 3193125
Kevin Ira Patrick Chief compliance officer 1 Aug 2011 Other 1832652
Eric Scott Martinez Senior compliance officer 1 Aug 2011 Other 3193125
Meghan Losk Chief compliance officer 1 May 2012 Other 4504785
Gary Isaac Furukawa Manager / chief investment officer 1 Nov 2012 Other 1094815
Erik Konrad Morgan Manager / president 1 Nov 2012 Other 2207063
James Albert Rooney Manager / chief executive officer 1 Nov 2012 Other 1711247
Jennifer Michelle Moreland Partner / chief financial officer 1 Nov 2012 Other 4608174
Gary Thomas Smart Partner / director of operations 1 Nov 2012 Other 1065010
Jennifer Michelle Moreland Partner / chief financial officer 1 Jan 2013 Other 4608174
Gary Thomas Smart Partner / director of operations 1 Jan 2013 Other 1065010
Scott William Akins General counsel and chief compliance officer 1 Feb 2013 Other 3098849
Bruce Wayne Milam Managing director of operations 1 Sep 2014 Other 6221164

Indirect Owners

The SEC currently registers 19 indirect owners.

Name Entity Date acquired Ownership Employer ID
Scott Trimble Svenson Member (jointly with ally svenson); manager 1 Jul 1998 25% - 50% 1869969
Ally Svenson Member (jointly with scott svenson) 1 Jul 1998 25% - 50% 5513754
Gary Isaac Furukawa Trustee 1 Jul 2000 Other 1094815
Arthur Glenn Goldman Trustee 1 Jul 2000 Other 2121573
Llc Sienna Management Manager 1 May 2002 Other 20-5673739
Scott Trimble Svenson Member (jointly with ally svenson) 1 May 2002 25% - 50% 1869969
Ally Svenson Member (jointly with scott svenson) 1 May 2002 25% - 50% 5513754
Scott Trimble Svenson Member (jointly with ally svenson); manager 1 Dec 2004 75% - 100% 1869969
Ally Svenson Member (jointly with scott svenson) 1 Dec 2004 75% - 100% 5513754
Llc The Sienna Group Member; manager 1 Jan 2008 75% - 100% 91-2166012
Llc Sienna Financial Services Member 1 Mar 2008 50% - 75% 26-1340518
Della Furukawa Member class a; manager 1 Aug 2008 Other 6146667
Gary Isaac Furukawa Member class a; manager 1 Aug 2008 Other 1094815
Gary Isaac Furukawa Trustee 1 Nov 2009 Other 1094815
Old River Trust Member class b 1 Dec 2009 75% - 100% 27-6553056
Brighton Street Llc Member 1 Nov 2012 25% - 50% 26-3173078
James Albert Rooney Manager 1 Jan 2013 Other 1711247
Erik Konrad Morgan Manager 1 Jan 2013 Other 2207063
Gary Isaac Furukawa Manager 1 Jan 2013 Other 1094815

Based in Seattle

The principal office where Freestone Capital Management, LLC performs its advisory services is located at 701 5 Th Avenue, Seattle, WA 98104, which is also the mailing address of the firm. An additional office of the firm is in Portland, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 206-707-7300 or by fax 206-707-7399. The normal business hours are 7:30 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at webportal.freestonecapital.com/pages/default.aspx.