Changing Parameters, LLC (Los Altos)

Changing Parameters, LLC is an investment adviser to an investment company based in Los Altos. It manages $73.75 million of regulatory assets for 256 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Illinois, Nevada, and Washington.

Changing Parameters provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, selection of other advisers, and tactical allocation services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Changing Parameters: assets under management

The assets under management (AUM) of Changing Parameters, LLC is $73.75 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 78% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $73.75 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $288.08 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Changing Parameters, LLC for their services and products based on a percentage of assets under management and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Changing Parameters serves?

The firm provides services to individuals, investment companies, and high net worth individuals. The largest group of clients of Changing Parameters is high net worth individuals with 38 clients and $54.97 million of assets under management. Among the 5 most similar advisory firms, Changing Parameters has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $68.34 million for 114 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.

Changing Parameters doesn't advise any private funds.

Careers at Changing Parameters, LLC

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Howard Paul Smith	Managing member, president	1 Jul 2004	75% - 100%	2097495
Sally Ann Talarico	Managing member	1 Jul 2004	50% - 75%	2235332
Marianne Louise Nave	Chief compliance officer, chief financial officer	1 Jan 2017	Other	6658070

Based in Los Altos

The principal office where Changing Parameters, LLC performs its advisory services is located at 201 Main Street, Los Altos, CA 94022 The mailing address of the firm is 171 Main Street, Los Altos, CA 94022. An additional office of the firm is in Gardnerville, NV. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 650-327-7705 or by fax 650-561-8415. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday.