New Potomac Partners LLC (Bethesda)

Name: New Potomac Partners LLC
Address: 4330 East West Hwy, Bethesda, MD, 20814
Telephone: 240-253-4280

New Potomac Partners LLC is a large advisory firm based in Bethesda. It manages $137.63 million of regulatory assets for 172 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of District of Columbia, Florida, Maryland, and 3 other states.

New Potomac Partners provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

New Potomac Partners: assets under management

The assets under management (AUM) of New Potomac Partners LLC is $137.63 million. The firm's AUM has grown by 3% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $129.39 million in discretionary accounts and $8.24 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $911.21 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $274.78 thousand.

New Potomac Partners has custody of $100 million in cash and securities for 110 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 49% of the total AUM. The second-largest asset type is investment and business development companies, which make up 28% of the firm’s portfolio. Investments in investment grade corporate bonds form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay New Potomac Partners LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients New Potomac Partners serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of New Potomac Partners is high net worth individuals with 80 clients and $120 million of assets under management. Among the 9 most similar advisory firms, New Potomac Partners has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $137.63 million for 117 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.

New Potomac Partners doesn't advise any private funds.

Careers at New Potomac Partners LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
David Lawrence Straus	Managing member/cco	1 Oct 2014	25% - 50%	2466774
Joshua Aaron Olds	Member	1 Oct 2014	25% - 50%	2874964
Robin Anne Mitler	Member	1 Oct 2014	Other	5111354

Based in Bethesda

The principal office where New Potomac Partners LLC performs its advisory services is located at 4330 East West Hwy, Bethesda, MD 20814, which is also the mailing address of the firm. An additional office of the firm is in Chapel Hill, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 240-253-4280 or by fax 240-396-5608. The normal business hours are 8:30 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at newpotomacpartners.com/.