Parcion Private Wealth (“Parcion,” “we,” “our,” “us”) offers a variety of advisory services, which
include financial planning, consulting, and investment management services. Prior to providing
advisory services, we enter into a written agreement with you setting forth the relevant terms and
conditions of the advisory relationship (the “Advisory Agreement”).
Parcion was formed and became registered as an investment adviser in October of 2020. The firm
is owned by Terrance L. Cook.
Parcion provides clients with comprehensive wealth management services which include a broad
range of financial planning and consulting services as well as discretionary and/or non-
discretionary management of investment portfolios.
Investment Management Services
In managing client assets, we primarily allocate among individual equities and debt securities,
including equity and debt-focused exchange-traded funds (“ETF”), some mutual funds, and some
degree of cash or equivalents. We also may allocate to various independent investment managers
(“Independent Managers”) to meet specific client needs. In addition, when appropriate we also
recommend that certain eligible clients invest in alternative investments, such as structured notes
or privately placed securities, which may include debt, equity and/or interests in pooled investment
vehicles, such as hedge funds or real estate funds.
While the above are our typical investment management services, we are not limited to any
particular type of investment. We provide advice about any legacy holdings in client portfolios.
We routinely manage and/or advise on investment products that are not maintained at the primary
custodian, such as variable life insurance and annuity contracts, and assets held in employer
sponsored retirement plans and qualified tuition plans (i.e., 529 plans). In these situations, we
direct or recommend the allocation of your assets among the various investment options available
with the product. These assets are generally maintained at the underwriting insurance company,
or with the custodian designated by your employer or the product’s sponsor. Because these
investments are not held with the primary custodian, we usually need you to execute additional
authorizations to permit us to trade on your behalf.
We tailor our advisory services to meet the needs of individual clients and seeks to ensure, on a
continuous basis, that client portfolios are managed in a manner consistent with those needs and
objectives. We consult with you on an initial and ongoing basis to assess your specific risk
tolerance, time horizon, liquidity constraints and other related factors relevant to the management
of their portfolios. Please promptly notify us if there are changes in your financial situation or if
you wish to place any limitations on the management of your portfolio.
You can impose reasonable restrictions or mandates on our management of your accounts; we
generally accept client restrictions as long as we believe them to be operationally reasonable to
implement and as long as we believe they are consistent with our fiduciary duty to you.
Use of Independent Managers
We may select certain Independent Managers to actively manage a portion of your assets. While
we maintain discretionary authority to hire and fire these Independent Managers, they generally
require that you enter into an investment advisory agreement directly with them, in addition to the
Advisory Agreement
you have with Parcion. You will also receive the Independent Manager’s
brochure.
We evaluate a variety of information about Independent Managers, including the Independent
Managers’ public disclosure documents, materials supplied by the Independent Managers
themselves, and other third-party analyses we believe are useful. To the extent possible, we seek
to assess the Independent Managers’ investment strategies, past performance and risk results. We
also consider management style, reputation, reporting, pricing and research capabilities, among
other factors.
Wealth Management and Consulting Services
We offer a broad range of wealth management and related consulting services, which include any
or all of the following functions:
• Business Planning
• Cash Flow Forecasting
• Trust and Estate Planning
• Financial Reporting
• Investment Consulting
• Insurance Planning
• Retirement Planning
• Risk Management
• Charitable Giving
• Distribution Planning
• Tax Planning
• Manager Due Diligence
Depending on the services we agree to perform, we will work with you to identify the scope of
information needed and to help ensure you are able to obtain the information from reliable sources.
In performing these services, we rely on information you (or your other professionals, such as
attorneys or accountants) provide to us, and generally do not perform any additional verification.
Parcion often reviews client insurance needs as part of its financial planning and wealth
management services. Where we believe insurance is required, we typically refer clients to an
independent insurance agency. That agency will further assess client requirements and determine
which products are appropriate. Parcion does not itself make specific insurance recommendations,
such as suggesting a particular insurance carrier. We may share in the commissions that apply to
life insurance you purchase based on our referral, and will disclose at the time of referral if this is
the case, but you are under no obligation to accept our recommendation or referral. You are also
welcome to implement any general recommendation we make through insurance agencies that
have no relationship with us. See Item 10 for more information about insurance compensation and
related conflicts of interest.
Important Information for Retirement Investors
When we recommend that you rollover retirement assets or transfer existing retirement assets (such
as a 401(k) or an IRA) to our management, we have a conflict of interest. This is because we will
generally earn additional revenue when we manage more assets. In making the recommendation,
however, we do so only after determining that the recommendation is in your best interest. Further,
in making any recommendation to transfer or rollover retirement assets, we do so as a “fiduciary,”
as that term is defined in ERISA or the Internal Revenue Code, or both. We also acknowledge we
are a fiduciary under ERISA or the Internal Revenue Code with respect to our ongoing investment
advisory recommendations and discretionary asset management services, as described in the
advisory agreement we execute with you. To the extent we provide non-fiduciary services to you,
those will be described in the advisory agreement.
Assets Under Management
As of December 31, 2023, we managed $2,193,318,212 of client assets, all on a discretionary
basis.