Changing Parameters, LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$98,692,846
Clients
109
Advisors
2
across 2 offices
About
Changing Parameters, LLC provides discretionary tactical allocation and portfolio management services to separately managed accounts for individuals (including high-net-worth and non-high-net-worth clients), pensions, trusts, charitable organizations and corporations, and also serves as investment adviser to an SEC-registered open-end investment company (the Changing Parameters Fund). The firm offers model-based SMA management under separate discretionary agreements and provides investment management to the Fund under its advisory contract.
The firm’s investment approach relies on price-trend, technical, quantitative and momentum analysis to generate trigger points for allocating among equity, fixed income and money market mutual funds, and it typically adjusts exposures (including moving to shorter-duration sectors or cash equivalents) when its proprietary models indicate changing trends. Changing Parameters operates with discretionary trading authority, may seek to implement its SMA strategies by investing client assets in the Fund, and uses third‑party software tools — including artificial intelligence solutions for market research and operational efficiency.
What is uncommon about this firm relative to peers is that it both manages separately managed accounts and directly advises an SEC-registered investment company, and it provides portfolio management services to investment companies — a combination that is rare among similar-sized advisory firms. The Fund the firm manages is actively traded and non‑diversified, employing long and short positions, derivatives and futures (and potentially leverage and higher turnover), and the firm discloses the operational and conflict considerations that can arise when SMAs are allocated into a related Fund.
Client services
Expertise
Fee options
Negotiated per SMA with a cap of 2.50% per annum including fees charged to the Fund
Account minimum: $500,000
Main office
See office201 Main Street, Suite 150
Los Altos CA 94022
Advisors at this office
1
Offices (2)
Most active in
California
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Advisors at this firm
Nicholas W
Series 65
Los Altos, CA
Changing Parameters, LLC
Nicholas Winstead is a financial advisor at Changing Parameters, LLC in Los Altos, CA, holding a Series 65 designation with four years of industry experience. He has worked at Changing Parameters since 2021 and previously held roles at Edelman, among others. Changing Parameters, LLC provides discretionary tactical allocation and portfolio management services to individuals, pensions, trusts, charitable organizations, and corporations, as well as serving as investment adviser to an SEC-registered open-end investment company. The firm employs a model-based approach using price-trend, technical, quantitative, and momentum analysis to adjust allocations across equity, fixed income, and money market funds, and manages both separately managed accounts and an actively traded Fund that employs long and short positions, derivatives, and futures.
Howard S
Series 63
Los Altos, CA
Changing Parameters, LLC
Howard Smith is a financial advisor with Changing Parameters, LLC in Los Altos, CA, holding a Series 63 designation and over 34 years of industry experience. He has worked at Ceros Financial Services, Inc. since 2009 and has been involved with Changing Parameters entities since 2004. Outside of his advisory role, he serves as an uncompensated director of a nonprofit 501(c)(3) organization. Changing Parameters, LLC provides discretionary tactical allocation and portfolio management services to individuals, pensions, trusts, charitable organizations, and corporations, as well as advising an SEC-registered open-end investment company. The firm uses model-based strategies with a focus on technical and quantitative analysis to adjust exposures across asset classes and employs both separately managed accounts and active management of a non-diversified investment fund.
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