# Sensible Portfolios

Sensible Portfolios is a Bank / Wealth / Trust based in Reno, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Reno, United States
- **Region:** North America
- **Address:** Reno, NV, United States
- **Founded:** 1994
- **Assets under management:** Undisclosed
- **Website:** sensibleportfolios.com
- **LinkedIn:** https://www.linkedin.com/company/sensibleportfolios

## Regulatory record

- **CRD number:** 121045
- **SEC file number:** 801-130214
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/121045

## About

Darrell Armuth, a Certified Public Accountant, launched Sensible Portfolios in 1994 as a fee-only registered investment adviser. He later brought in Lena Armuth, a CERTIFIED FINANCIAL PLANNER® professional, cementing its structure as a family-run practice. The firm operates from Reno, Nevada and maintains an additional office in Austin, Texas. The firm delivers two services — portfolio management and retirement planning — for a single, transparent fee schedule. Portfolios are composed solely of low-cost mutual funds from Dimensional Fund Advisors and Vanguard, reflecting a conviction that product expenses compound into the largest performance drag for individual investors. Client assets are guided through a two-part process: a portfolio review to align risk and holdings with personal goals, followed by a financial wellness checkup that covers drawdown strategies and Social Security planning. The practice serves individuals, high-net-worth households, trusts, and pension plans. Sensible Portfolios acts as a fiduciary and accepts no commissions, a posture it advertises as eliminating conflicts from product-distribution incentives. The firm discloses its fees directly: 0.70% annually on the first $1,000,000 under management and 0.10% on assets above that threshold. It does not publish a total AUM figure. The firm’s structural differentiator is its extreme cost-consciousness, applied to both its own advisory fees and the expense ratios of the funds it selects. By restricting its investment universe to DFA and Vanguard vehicles, it removes active-manager risk while giving clients a transparent, all-in cost that the Armuths can quote on a single page. This architecture functions as a permanent bet that fee minimization — not manager selection — is the surest path to net-of-fee performance for the clients it advises.

## Offices

- Austin, TX, United States

## People

- Darrell Armuth — Founder
- Lena Armuth — Investment Advisor Representative, CERTIFIED FINANCIAL PLANNER®

## Questions

### Who runs investment decisions at Sensible Portfolios?

Founder Darrell Armuth, a CPA, and Lena Armuth, a CFP® professional, jointly advise clients. The firm does not make individual security selections; it allocates client portfolios exclusively across low-cost mutual funds from Dimensional Fund Advisors and Vanguard, which eliminates traditional active-management discretion.

### How does Sensible Portfolios charge for its services?

The firm publishes a transparent, two-tier fee schedule on its website: 0.70% annually on the first $1,000,000 under management and 0.10% on any assets above that threshold. It operates on a fee-only basis, accepts no commissions, and includes ongoing retirement planning in the management fee.

### Does Sensible Portfolios participate in fund commitments or direct deals?

No. The firm does not engage in private fund commitments, direct company investments, or alternative assets. Its entire investment implementation relies on publicly available mutual funds from Dimensional Fund Advisors and Vanguard, a constraint it treats as a structural advantage for cost control.

### Where does Sensible Portfolios maintain physical offices?

The firm is headquartered in Reno, Nevada, and lists an additional office in Austin, Texas on its website. Both locations support its client base of individuals, trusts, and pension plans, though it does not disclose the geographic distribution of its assets under advisement.

## Related profiles

- [Sensible Money](https://altss.com/profile/sensible-money)
- [Sensus Investment Management](https://altss.com/profile/sensus-investment-management)

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Last updated: 2026-06-03T20:00:00.000Z

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