Franklin, Parlapiano, Turner & Welch LLC (Houston)


Franklin, Parlapiano, Turner & Welch LLC is a large advisory firm based in Houston. It manages $460.31 million of regulatory assets for 371 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Louisiana, Oklahoma, and Texas.

Franklin, Parlapiano, Turner & Welch 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.

Franklin, Parlapiano, Turner & Welch: assets under management

The assets under management (AUM) of Franklin, Parlapiano, Turner & Welch LLC is $460.31 million. The firm's AUM has grown by 83% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $458.22 million in discretionary accounts and $2.09 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.25 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $696.33 thousand.
Franklin, Parlapiano, Turner & Welch has custody of $134.23 million in cash and securities for 41 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 53% of the total AUM. The second-largest asset type is exchange traded securities, which make up 27% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Franklin, Parlapiano, Turner & Welch LLC for their services and products based on a percentage of assets under management. 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 Franklin, Parlapiano, Turner & Welch serves?

The only and largest group of clients of Franklin, Parlapiano, Turner & Welch is high net worth individuals with 98 clients and $459.73 million of assets under management. Among the 9 most similar advisory firms, Franklin, Parlapiano, Turner & Welch has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $459.73 million for 98 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.

Franklin, Parlapiano, Turner & Welch doesn't advise any private funds.

Careers at Franklin, Parlapiano, Turner & Welch LLC

The company employs 9 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 4 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
John Hal Turner Co-managing director 1 Apr 2004 25% - 50% 4755144
William David Welch Co-managing director 1 Apr 2004 25% - 50% 4759529
John Parlapiano Co-managing director 1 Jan 2013 25% - 50% 5499559
Paul David Troyer Chief compliance officer, co-managing director 1 Feb 2013 Other 5053080
Joseph Warren Dyal Principal 1 Jan 2016 Other 5411605
Peter John Parlapiano Principal 1 Jan 2016 Other 5177861

Based in Houston

The principal office where Franklin, Parlapiano, Turner & Welch LLC performs its advisory services is located at 15115 Park Row, Houston, TX 77084 4945, 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 281-599-3129 or by fax 281-398-9448. The normal business hours are by appointment only on Other. You can find more information about the New York firm at ftwllc.com.

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