Palladium Partners, LLC (Norfolk)

Name: Palladium Partners, LLC
Address: 999 Waterside Drive, Norfolk, VA, 23510 3320
Telephone: 757-305-1500

Palladium Partners, LLC is a large advisory firm based in Norfolk. It manages $2.16 billion of regulatory assets for 2,121 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 22 other states.

Palladium Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, publication of newsletters, educational seminars and workshops, and estate valuations. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Palladium Partners: assets under management

The assets under management (AUM) of Palladium Partners, LLC is $2.16 billion. The firm's AUM has grown by 671% since the beginning of its operation, and $446.68 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $2.13 billion in discretionary accounts and $28.91 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.01 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.13 million.

Palladium Partners has custody of $1.25 billion in cash and securities for 1,098 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 59% of the total AUM. The second-largest asset type is state and local bonds, which make up 16% of the firm’s portfolio. Investments in investment grade corporate bonds form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Palladium Partners, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Katherine Clay Willis serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Katherine Clay Willis is high net worth individuals with 474 clients and $1.67 billion of assets under management. Among the 6 most similar advisory firms, Palladium Partners has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.16 billion for 992 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.

Palladium Partners doesn't advise any private funds.

Careers at Palladium Partners, LLC

The company employs 29 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 12 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Katherine Clay Willis has been acting as President since 1 Jan 2012. Jonathan Lee Taylor joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Katherine Clay Willis	Managing director	1 Jan 2008	25% - 50%	2050906
James Johnston Izard	Managing director	1 Jan 2008	25% - 50%	4542791
Dickinson Barksdale Phillips	Chief compliance officer	1 Jan 2008	Other	500474
John Comerford Benedict	Director of research	1 Jan 2008	Other	1745619
Henry Upham Harris	Principal	1 Feb 2008	Other	831357
Nancy Elizabeth Renshaw	Chief compliance officer	1 Apr 2009	Other	2667562
Katherine Clay Willis	Director	1 Jan 2012	25% - 50%	2050906
James Johnston Izard	Director	1 Jan 2012	25% - 50%	4542791
Dickinson Barksdale Phillips	Director	1 Jan 2012	Other	500474
John Comerford Benedict	Chief financial officer/director	1 Jan 2012	Other	1745619
Henry Upham Harris	Director	1 Jan 2012	Other	831357
Kristen Marie Potter	Chief operating officer	1 Jan 2012	Other	6036088
Rhonda Wadsworth Robinett	Chief administrative officer	1 Jan 2012	Other	4862668
Jennifer Lynn Litchfield	Chief technology officer	1 Jan 2012	Other	6039937
William Whidden Horner	Chief financial officer	1 Dec 2017	Other	5701444
Michael Preston Disharoon	Director	1 Jan 2018	Other	5484090
Jonathan Lee Taylor	Director	1 Jan 2019	Other	5736831

Based in Norfolk

The principal office where Palladium Partners, LLC performs its advisory services is located at 999 Waterside Drive, Norfolk, VA 23510 3320, 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 757-305-1500 or by fax 757-305-1538. The normal business hours are 8:30 a.m - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at palladiumllc.com and its LinkedIn profile.