Petersen Hastings Investment Management Inc (Kennewick)

Name: Petersen Hastings Investment Management Inc
Address: 8203 W Quinault, Kennewick, WA, 99336
Telephone: 509-735-0484

Petersen Hastings Investment Management Inc is a large advisory firm based in Kennewick. It manages $670.21 million of regulatory assets for 1,817 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Idaho, and 4 other states.

Petersen Hastings Investment Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Petersen Hastings Investment Management: assets under management

The assets under management (AUM) of Petersen Hastings Investment Management Inc is $670.21 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 318% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $670.21 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $368.85 thousand each.

Investments

The firm invests in other assets the most. They account for 92% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Petersen Hastings Investment Management Inc for their services and products based on a percentage of assets under management and hourly charges. 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 Scott Allen Sarber serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Scott Allen Sarber is high net worth individuals with 115 clients and $243.59 million of assets under management. Among the 9 most similar advisory firms, Petersen Hastings Investment Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $670.21 million for 682 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.

Petersen Hastings Investment Management doesn't advise any private funds.

Careers at Petersen Hastings Investment Management Inc

The company employs 14 people that are either part- or full-time employees. 79 percent of the employees work as investment advisers or researchers. 14 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.

Scott Allen Sarber has been acting as President since 1 Feb 2002. Jeffrey Carlisle Petersen joined the executive team most recently as the Chief Executive Officer, Vice President, Secretary And Treasurer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Roger Ivan Hastings	President and chairman	1 Aug 1983	50% - 75%	239554
Scott Allen Sarber	Vice president of operations	1 Oct 1995	Other	2432093
Jeffrey Carlisle Petersen	Vice president and chief executive officer	1 Dec 1996	50% - 75%	1676557
Scott Allen Sarber	President	1 Feb 2002	25% - 50%	2432093
Jeffrey Carlisle Petersen	Corporate secretary	1 Feb 2002	25% - 50%	1676557
Jeffrey Carlisle Petersen	Chief executive officer, vice president, secretary and treasurer	1 Jan 2007	50% - 75%	1676557
Matthew Lee Neff	Chief operating officer	1 Jan 2007	Other	4550161
Blaine Arthur Carr	Chief compliance officer and chief financial officer	1 Jan 2007	Other	4842136

Based in Kennewick

The principal office where Petersen Hastings Investment Management Inc performs its advisory services is located at 8203 W Quinault, Kennewick, WA 99336, 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 509-735-0484 or by fax 509-735-4191. The normal business hours are 8 a.m. - 5 p.m. on Monday - Friday. You can find more information about the New York firm at petersenhastings.com.