Prime Advisors Inc (Redmond)

Name: Prime Advisors Inc
Address: 22635 Ne Marketplace Drive, Redmond, WA, 98053
Telephone: 425-202-2000

Prime Advisors Inc is a large advisory firm based in Redmond. It manages $17.66 billion of regulatory assets for 359 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Connecticut, and Washington.

Prime Advisors provides portfolio management for businesses and institutional clients and prime provides sub-advisory services to organizations providing family office services.. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Prime Advisors: assets under management

The assets under management (AUM) of Prime Advisors Inc is $17.66 billion. The firm's AUM has grown by 699% since the beginning of its operation, and $196.65 million of the total AUM is attributable to clients outside of the United States.

The firm manages $17.49 billion in discretionary accounts and $169.76 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $51.28 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $9.43 million.

Investments

The firm invests in state and local bonds the most. They account for 40% of the total AUM. The second-largest asset type is other assets, which make up 16% of the firm’s portfolio. Investments in government bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Prime Advisors Inc 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 Duane Irwin Castles serves?

The firm provides services to insurance companies, charitable organizations, and high net worth individuals. The largest group of clients of Duane Irwin Castles is insurance companies with 74 clients and $12.05 billion of assets under management. Among the 8 most similar advisory firms, Prime Advisors has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $17.56 billion for 85 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Prime Advisors doesn't advise any private funds.

Careers at Prime Advisors Inc

The company employs 56 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There isn’t anyone 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.

Duane Irwin Castles has been acting as President since 1 Nov 2011. Marc Wallace Tollefson has served as the Chief Investment Officer since 1 Jul 2007. Randolph Brill Brown joined the executive team most recently as the Board Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Duane Irwin Castles	Chairman & ceo	1 Nov 1988	Other	1364054
Vincent Thomas Rowland	President	1 May 1991	Other	4347101
Frank Samuel Conde	Chief investment actuary	1 Oct 1994	Other	4347126
Jeffrey Alan Johnson	Chief financial officer	1 Sep 1996	Other	4347121
Lewis Leon	Senior vice president, accounting	1 Sep 1997	Other	6471053
Robert Joseph Macmillan	Senior vice president & portfolio strategist	1 Oct 1997	Other	1597766
Ronald Philip O'hanley	Director	1 Jul 1998	Other	4331592
Mbc Investments Corporation	Shareholder	1 Jul 1998	25% - 50%	51-0301132
Nac Reinsurance Corporation	Shareholder	1 Jul 1998	25% - 50%	13-1290712
Xl Reinsurance America Inc.	Shareholder	1 Jul 1998	25% - 50%	13-1290712
Christopher V Greetham	Director	1 Jun 1999	Other	4344230
Scott Francis Powers	Director	1 Sep 2000	Other	1482612
Thomas Brennan Burke	Director	1 Sep 2002	Other	2741639
Patrick James Sheppard	Director	1 Sep 2002	Other	1779929
Jeffrey Alan Johnson	Chief operating officer & chief financial officer	1 Sep 2003	Other	4347121
Vincent Russell Mcdonough	Chief risk officer	1 Jan 2004	Other	4559134
Vincent Thomas Rowland	Managing director	1 Feb 2004	Other	4347101
Leslie Charles Berthy	Managing director	1 Feb 2004	Other	1565599
Frank Samuel Conde	Director/chief investment strategist	1 Mar 2004	Other	4347126
James Gordon Evans	Senior vice president & investment strategist	1 Mar 2004	Other	4627718
Douglas Clark	Director/chief portfolio strategist	1 Jun 2005	Other	2843029
Marc Wallace Tollefson	Chief investment officer	1 Nov 2006	Other	1629597
Vincent Thomas Rowland	Managing director	1 Mar 2007	Other	4347101
Marc Wallace Tollefson	Chief investment officer	1 Jul 2007	Other	1629597
Duane Irwin Castles	Chairman & ceo	1 Jul 2007	25% - 50%	1364054
Blaine David Okelley	Chief financial officer, chief administrative officer and chief compliance officer	1 Oct 2007	Other	1663586
Jeffrey Alan Johnson	Director/executive vice president	1 Nov 2007	Other	4347121
Leslie Charles Berthy	Managing director	1 Mar 2008	25% - 50%	1565599
Jeffrey Preston Bezos	Shareholder	1 Apr 2008	Other	2119101
Lawrence Eugene Ventura	Senior vice president, technology	1 Apr 2008	Other	5524590
Donald Layton Mcdonald	Executive vice president	1 May 2009	Other	1301025
Donald Layton Mcdonald	President	1 Mar 2010	Other	1301025
Duane Irwin Castles	Chairman	1 Oct 2011	Other	1364054
Donald Layton Mcdonald	President & ceo	1 Oct 2011	Other	1301025
Duane Irwin Castles	Director	1 Nov 2011	25% - 50%	1364054
Donald Layton Mcdonald	Chairman, president & ceo	1 Nov 2011	Other	1301025
Dennis Rastislav Klimes	Senior vice president, marketing	1 Jan 2015	Other	2270322
Donald Layton Mcdonald	Board member	1 Jul 2015	Other	1301025
Sun Life Financial (U.S.) Investments Llc	Sole shareholder	1 Jul 2015	75% - 100%	04-3401283
Stephen C Peacher	Board member	1 Jul 2015	Other	1567536
Scott Davis	Board member	1 Jul 2015	Other	5026167
Randolph Brill Brown	Board member	1 Apr 2018	Other	1399450
Steven C. Doire	President	1 Apr 2018	Other	4498536
Marc Wallace Tollefson	President	1 Dec 2018	Other	1629597

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Mellon Financial Corporation	Sharholder	1 Jul 1998	25% - 50%	25-1233834
Xl Captial Ltd.	Shareholder	1 Jun 1999	25% - 50%	foreign entity
Xl Capital Ltd.	Shareholder	1 Jun 1999	25% - 50%	foreign entity
Sun Life Financial Inc.	Sole shareholder	1 Jul 2015	75% - 100%	98-0226074
Sun Life Global Investments Inc.	Sole shareholder	1 Jul 2015	75% - 100%	98-0226074
Inc. Sun Life Assurance Company Of Canada U.S. Operations Holdings	Sole shareholder	1 Jul 2015	75% - 100%	04-3401283
Inc. Sun Life Financial (U.S.) Holdings	Sole shareholder	1 Jul 2015	75% - 100%	04-3579262
Inc. Sun Life Financial Holdings	Sole shareholder	1 Jul 2015	75% - 100%	04-3401283
Sun Life 2007 1 Financing Corp	Shareholder	1 Nov 2016	75% - 100%	98-0645594

Based in Redmond

The principal office where Prime Advisors Inc performs its advisory services is located at 22635 Ne Marketplace Drive, Redmond, WA 98053, which is also the mailing address of the firm. An additional office of the firm is in Windsor, CT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 425-202-2000 or by fax 425-202-2001. The normal business hours are 6:30 am to 4:00 pm on Monday - Friday. You can find more information about the New York firm at primeadvisors.com/ and its LinkedIn profile.