Its Asset Management LP (Washington)


Its Asset Management LP is a large advisory firm based in Washington. It manages $128.8 million of regulatory assets for 1,828 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 28 other states.

Logo

Its Asset Management provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Its Asset Management: assets under management

The assets under management (AUM) of Its Asset Management LP is $128.8 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -57% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $128.8 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $70.46 thousand each.
Its Asset Management has custody of $1.19 million in cash and securities for 1 client 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 41% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 41% of the firm’s portfolio. Investments in exchange traded securities form 18% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Its Asset Management LP 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 Its Asset Management serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Its Asset Management is individuals with 1,573 clients and $105.82 million of assets under management. Among the 11 most similar advisory firms, Its Asset Management has the highest percentage of individuals out of all clients.


The amount of regulatory assets under management is $128.6 million for 1,595 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.

Its Asset Management doesn't advise any private funds.

Careers at Its Asset Management LP

The company employs 8 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There are 72 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.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Jon William Erdner Agent for general partner 1 Aug 1976 75% - 100% 847344
Inc. Erdner Enterprises General partner 1 Dec 1995 Other 25-1775393
Michael Ryan Schofield Chief operating officer 1 Jul 2003 Other 4149415
Gary Thomas Jeffers Chief compliance officer/cfo 1 Dec 2005 Other 4193699
Nils Alain Nolan Chief operating officer 1 Dec 2012 Other 6166625
Michael Ryan Schofield Chief operating officer 1 Oct 2015 Other 4149415
Kevin Sean Woodard Chief compliance officer 1 Jan 2016 Other 2523425
Matthew Ashley Swendiman Chief compliance officer 1 Jun 2016 Other 2849367
Kevin Sean Woodard Chief compliance officer 1 Apr 2017 Other 2523425

Based in Washington

The principal office where Its Asset Management LP performs its advisory services is located at 1720 Washington Rd, Washington, PA 15301 8919, which is also the mailing address of the firm. An additional office of the firm is in St. Clairsville, OH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 724-745-2300 or by fax 724-745-0900. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at itsconnect.com.