Robertson Stephens: Platform Profile

Overview

Robertson Stephens is the consumer brand of SEC-registered adviser Robertson Stephens Wealth Management, LLC.

Current legal identity:

• Investment adviser: Robertson Stephens Wealth Management, LLC
• Brand: Robertson Stephens
• CRD: 289977
• SEC number: 801-111814
• Current ADV Part 2A date: 2026-03-31
• Current Form CRS date: 2026-03-31

Current services include:

• investment management;
• investment consulting;
• wealth planning;
• tax and divorce planning;
• retirement-plan consulting;
• family-office services;
• investment-manager due diligence;
• private and alternative investments.

May fit better for

• high-net-worth households wanting integrated wealth planning;
• clients seeking discretionary or non-discretionary portfolio management;
• families with tax, estate, insurance and family-office needs;
• investors comfortable negotiating fees relationship by relationship;
• eligible clients considering private equity, venture capital or hedge-fund exposure;
• households needing access to multiple third-party managers or custodians.

May fit less well for

• users who want one public standard fee table;
• investors seeking a cheap automated-only robo account;
• clients who want no affiliate or insurance conflicts;
• investors who need daily liquidity from all holdings;
• borrowers uncomfortable with margin increasing the fee base;
• users who assume no account minimum means every account size will be retained indefinitely.

There is no general account minimum

Current Form CRS:

The firm says it generally does not require a minimum dollar amount to open and maintain an advisory account.

It can terminate an account if the account becomes too small to manage effectively.

Investment-management fees generally range from 0.10% to 2.00%

Current Part 2A:

• Investment management fee range: 0.10%-2.00%
• Fees negotiable: Yes

The exact fee depends on relationship size and complexity and belongs in the client agreement.

Fixed annual investment-management fees are also possible

Current brochure:

• Fixed annual investment management fee possible: Yes
• Fixed fee negotiated: Yes

The fixed fee is relationship-specific.

Billing is quarterly, in advance or arrears

Current disclosure:

• Billing frequency: quarterly
• Billing timing:
• in advance
• in arrears
• Initial billing typical: in arrears
• Initial billing base: aggregate average daily balance

The client agreement controls the actual method.

Financial planning has several possible price structures

Current brochure states separately charged financial planning can use:

• Planning hourly range: $250-$500/hour
• Planning annual flat range: $500-$100,000/year
• Planning per plan range: $2,500-$50,000
• Planning update range: $1,000-$5,000
• Planning marketable net worth method possible: Yes

Planning can also be included with investment management under one advisory fee.

Margin can increase both account market value and advisory fee

Current brochure:

• Margin can increase fee base: Yes
• Margin fee conflict: Yes
• Margin required: No

The custodian separately charges margin interest.

The economic issue is therefore:

higher advisory fee base + borrowing cost + leverage risk.

Robertson Stephens does not charge performance-based advisory fees

Current Part 2A:

• Performance based fee: No
• Side by side management: No

Private funds or outside managers used in the relationship can still charge separate product-level fees under their own agreements.

Alternatives can add separate fees and illiquidity

Current Part 2A identifies possible advice involving:

• hedge funds;
• funds of funds;
• private equity;
• venture capital;
• private funds;
• other non-public investments.

Additional third-party manager, sub-adviser and fund fees can apply.

Long Arc ownership creates an affiliated-fund conflict

Robertson Stephens is wholly owned by Robertson Stephens Holdings, LLC.

The parent is majority owned by investment funds managed by affiliates of Long Arc Capital.

Current brochure states Robertson Stephens can recommend Long Arc Funds.

The conflict is real.

It does not mean every client owns a Long Arc fund.

Insurance and affiliated brokerage can create separate compensation

Current brochure states:

• some employees can sell insurance through affiliated 415 Insurance Solutions, LLC or third parties;
• applicable insurance personnel can receive commissions;
• some advisers can also be registered representatives of affiliated broker-dealer Robertson Stephens Capital Markets, LLC.

Custody is external

Current brochure identifies recommended custodians including:

• Custodian:
• Fidelity / National Financial Services
• Charles Schwab
• Pershing Advisors Solutions

The brochure also describes economic support received from Schwab and Fidelity, which can create incentives around custody recommendations.

Store the conflict without transferring broker-dealer or SIPC status to the adviser.

Current AUM is a dated regulatory metric

Current March 2026 brochure, using December 31, 2025 data:

• Regulatory AUM: $8,763,969,974
• Discretionary AUM: $6,992,879,444
• Non discretionary AUM: $1,771,090,530
• AUM as of: 2025-12-31

Keep the date attached.

Assessment

Robertson Stephens is best represented as a negotiated private-wealth platform rather than a firm with one standard public price.

The current review needs to preserve:

• no general numeric account minimum;
• 0.10%-2.00% negotiated investment-management range;
• fixed-fee investment-management option;
• multiple separate planning-pricing methods;
• margin-related fee-base economics;
• third-party and private-investment costs;
• Long Arc, insurance and brokerage conflicts;
• external custody.

A single number would erase more than it explains.