# Park State Asset Management LLC

> Park State Asset Management LLC is an SEC-registered investment advisory firm in Beverly, MA, registered since 2025, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 23, 2026.

- CRD: 336573
- Filed as: PARK STATE ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Beverly, MA
- Filing period: October 2026
- Form ADV filing dated: April 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/336573
- AdvisorCensus page: https://advisorcensus.com/firm/park-state-asset-management-llc-beverly-ma-336573

## Quick answers

**How is Park State Asset Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Park State Asset Management LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**How much does Park State Asset Management LLC charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: up to 1% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Park State Asset Management LLC located?**
Park State Asset Management LLC's principal office is in Beverly, MA, according to its Form ADV.

**Is Park State Asset Management LLC registered with the SEC or a state?**
Park State Asset Management LLC is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 336573.

**How much does Park State Asset Management LLC manage?**
Park State Asset Management LLC reports $192,387,471 in regulatory assets under management in its Form ADV filing dated April 23, 2026 (99% discretionary).

**How have Park State Asset Management LLC's assets and staff changed since 2025?**
In the Form ADV data for Park State Asset Management LLC: Regulatory assets under management: $206,619,664 in the October 2025 data and $192,387,471 in the October 2026 data, down 7%. Total employees: 5 in October 2025 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Park State Asset Management LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (32); individuals (other than high net worth individuals) (18); corporations or other businesses not listed above (5).

**Which custodians does Park State Asset Management LLC use?**
Park State Asset Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and Raymond James & Associates, Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Park State Asset Management LLC 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/336573

**What changed in Park State Asset Management LLC's recent Form ADV filings?**
In the May 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: up to 1% of assets a year (the maximum the brochure states)

> The fee generally does not exceed 1% per year. The specific fee, billing frequency and method of calculation will be described in the investment advisory agreement with the client.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- Raymond James & Associates, Inc.

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: $192,387,471
- Discretionary: $190,745,082
- Non-discretionary: $1,642,389

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 18 | $8,360,337 |
| High net worth individuals | 32 | $145,107,052 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4 | $25,184,095 |
| Charitable organizations | 1 | $4,649,237 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 5 | $9,086,750 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2025 (1 year)
- Employees: 6 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, FL, MA, NH
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [park-state.com](https://park-state.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $206,619,664 | 5 | May 6, 2025 |
| October 2026 | $192,387,471 | 6 | April 23, 2026 |

Regulatory assets under management: $206,619,664 in the October 2025 data and $192,387,471 in the October 2026 data, down 7%.
Total employees: 5 in October 2025 and 6 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Employees performing advisory functions went from 3 to 4.
- Registered or notice-filed in CT.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Park State Asset Management LLC (CRD 336573): Form ADV filing data as of October 2026.