Parsons Capital Management

Parsons Capital Management

The firm was founded in 1993 by Robert W. Parsons and J. Geddes Parsons. It operates as an SEC-registered investment adviser out of Providence, Rhode Island, with additional offices in Hobe Sound, Florida and Denver, Colorado. The ownership group combines the Parsons founders with a multi-partner leadership team that includes President and CEO John H. Mullen and five additional managing directors, signaling a deliberate transition toward professional management alongside family governance. Parsons manages equity and fixed-income portfolios directly for high-net-worth individuals, families, trusts, foundations, and retirement accounts. The firm does not disclose specific holdings, but its Form CRS and quarterly commentary describe a fundamental, in-house research process applied across individual securities and bonds. Gregory J. Lavine, CFA, CFP, serves as Director of Fixed Income, indicating dedicated bond capabilities. The strategy is US-centric, with no disclosed international or alternative-asset sleeves. Clients are concentrated in New England, with the Florida and Colorado offices suggesting exposure to seasonal and relocated wealth. Assets under management reached $2 billion as of December 31, 2025, per the firm's own disclosure. The AUM figure represents fully discretionary retail and institutional separate accounts building on more than 30 years of operations. In 2025, the firm received a CNBC FA 100 award, a ranking based on metrics including AUM size, employee count, and regulatory disclosures. The practice also publishes a quarterly market commentary under the 'Perspectives' newsletter, recently covering the S&P 500's Q1 2026 decline. Parsons Capital Management's structure departs from the typical single-family office because it serves external third-party clients alongside the founding family's capital. The combination of two active Parsons founders, four non-family managing directors, and dedicated compliance leadership creates a hybrid model — part family practice, part institutional RIA. The firm files Form ADV as a standard registered investment adviser, not as a family office exempt from registration, confirming its open-client mandate and regulated posture.