# Concentric

> Concentric is an SEC-registered investment advisory firm in Walnut Creek, CA, registered since 2022, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 321633
- Filed as: CONCENTRIC
- Legal name: Advisor Partners II, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Walnut Creek, CA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/321633
- AdvisorCensus page: https://advisorcensus.com/firm/concentric-walnut-creek-ca-321633

## Quick answers

**How is Concentric compensated?**
On its Form ADV (Item 5.E, October 2026), Concentric reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Concentric located?**
Concentric's principal office is in Walnut Creek, CA, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Concentric registered with the SEC or a state?**
Concentric is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 321633.

**How much does Concentric manage?**
Concentric reports $13,910,765,668 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Concentric's assets and staff changed since 2022?**
In the Form ADV data for Concentric: Regulatory assets under management: $1,668,620,031 in the October 2022 data and $13,910,765,668 in the October 2026 data, up 734%. Total employees: 10 in October 2022 and 26 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Concentric serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (4,380); individuals (other than high net worth individuals) (762); corporations or other businesses not listed above (131).

**Which custodians does Concentric use?**
Concentric's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and PNC Bank, N.A. as custodians holding 10% or more of its separately managed account assets.

**Does Concentric report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/321633

**What changed in Concentric's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 9 to 16. Regulatory assets under management went from $7,668,325,922 to $13,910,765,668 (+81%). Changed its office addresses in Boston, MA. Added an office in New York, NY. Registered or notice-filed in HI, IA, KS, KY, MO, MT, ND, OK, PR, SD.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- PNC Bank, N.A.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $13,910,765,668
- Discretionary: $13,910,765,668
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 762 | $554,832,689 |
| High net worth individuals | 4,380 | $11,676,631,335 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | $21,563,399 |
| Charitable organizations | 91 | $352,509,052 |
| Other investment advisers | 4 | $12,449,726 |
| Corporations or other businesses not listed above | 131 | $1,292,779,467 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2022 (4 years)
- Employees: 26 total, 16 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Boston, MA
- New York, NY
- Newtown Square, PA

### Websites listed on Form ADV (Item 1.I)
- concentricinnovation.com
- LinkedIn @concentric-innovation

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $1,668,620,031 | 10 | July 9, 2022 |
| October 2023 | $1,942,593,918 | 9 | September 7, 2023 |
| October 2024 | $3,382,642,421 | 12 | March 28, 2024 |
| October 2025 | $7,668,325,922 | 16 | March 31, 2025 |
| October 2026 | $13,910,765,668 | 26 | March 31, 2026 |

Regulatory assets under management: $1,668,620,031 in the October 2022 data and $13,910,765,668 in the October 2026 data, up 734%.
Total employees: 10 in October 2022 and 26 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 9 to 16.
- Regulatory assets under management went from $7,668,325,922 to $13,910,765,668 (+81%).
- Changed its office addresses in Boston, MA.
- Added an office in New York, NY.
- Registered or notice-filed in HI, IA, KS, KY, MO, MT, ND, OK, PR, SD.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Concentric (CRD 321633): Form ADV filing data as of October 2026.