How do I know you're legitimate?

NarStar LLC is registered with the State of Utah (CRD #337496) and conditionally registered with the State of Texas. You can verify both on IAPD at any time. The adviser passed the Series 65 and SIE exams. Full background, fees, and how Narstar operates are disclosed in Form ADV, which is linked on this page. IAPD is the SEC's public database for all registered investment advisers. If a firm isn't listed there, that's a red flag. Narstar is. Learn more about what fiduciary duty actually requires.

What does fee-only mean, and what are the fees?

Fee-only means the adviser's only revenue comes from client fees: no advisory commissions, no product sales. At Narstar, taxable model portfolios are charged 0.60% for Income, 1.20% for Growth, and 1.60% for Speculative. IRAs (Traditional, Roth, Rollover, SEP, and SIMPLE) are charged a uniform 1.00% annual rate regardless of model portfolio mix. Billed quarterly on the average daily value of your account. There are no signup fees and nothing owed when you leave. Interactive Brokers may charge separate brokerage commissions and fees. The fee-only structure reduces many common conflicts. It does not eliminate every conflict. Remaining conflicts are disclosed in Form ADV.

Where is my money held, and is it safe?

Your money is held at Interactive Brokers, a publicly traded brokerage, in an account in your name. Narstar has trading authority to manage your investments but can't withdraw your money or move it anywhere. You can log in and see everything anytime. Interactive Brokers is a SIPC member, which means your cash and securities are covered up to $500,000 if the brokerage fails, plus $30 million in excess SIPC coverage. You can verify SIPC coverage on IBKR's site. But SIPC coverage doesn't protect against market losses.

What happens to my account if markets drop sharply?

When markets decline, your account value goes down. That's not a malfunction, and it's not a reason to sell everything. Active stock management doesn't protect against market losses, and we don't move to cash to avoid extended declines. Nobody can reliably predict when to exit and re-enter markets. What we do during a decline is the same as any other time: hold the companies we believe in, or exit positions where the reason we bought has changed. But if a sharp decline would cause serious financial hardship, that may be a sign the position size or portfolio doesn't match your situation.

Fiduciary · Fee-Only · Utah & Texas

A fee-only financial advisor who chooses every company in your Narstar portfolio, and can tell you why.

Narstar manages three model portfolios of individual stocks, selected and traded by one adviser for a published annual rate. It is a narrower service than full financial planning, with direct stock selection instead of fund-based portfolio management.

New clients can start at $100.

Ask a question How it works

Three portfolios

Income Dividend-paying companies selected for cash flow

0.60% per year

Growth Long-term compounding via durable competitive advantages

1.20% per year

Speculative Concentrated positions in smaller companies

1.60% per year

Fee-Only No Commissions
Fiduciary Duty Acts in your interest by law
Registered Utah & Texas
Held at Interactive Brokers
CRD #337496

What We Manage

Three portfolios, each with a different purpose.

We may use one portfolio or a mix. New to active stock management? See how it compares to a robo-advisor.

Hands picking ripe apples into a wooden basket in an orchard

Income

For cash flow

0.60%

Per year

Dividend-paying stocks, individually selected
Companies selected for cash flow
Risk: dividend cuts, sector concentration

See Portfolio

Hands tending young plants growing on wooden stakes in a greenhouse

Growth

For long-term growth

1.20%

Per year

Individual stocks, low portfolio turnover
Built to hold for years at a time
Risk: concentration, extended declines

See Portfolio

Hand-carved wooden model rocket on a workbench beside a sketch of a rocket

Speculative

For a higher-risk slice

1.60%

Per year

A small number of holdings, concentrated on purpose
Not appropriate for all investors
Risk: sharp declines of 30% or more

See Portfolio

What all three have in common

Stocks and cash, nothing else: Publicly traded stocks and cash equivalents only. No ETFs, mutual funds, or preferred stock.
The same model for everyone in it: Everyone in a model owns the same holdings. We do not personalize holdings or accept security restrictions.
Each model reviewed at least quarterly: We review positioning, holdings, and investment theses at least quarterly. Changes apply to every account in the model.
Discretionary authority: We place trades without prior approval, allowing model changes to reach accounts the day we make them.
Your account reviewed at least annually: We review sooner after major deposits, withdrawals, changes in your situation, market events, corporate actions, or on request.
The custodian keeps the record: Interactive Brokers holds assets in your name and sends statements at least quarterly. Ask us anytime for a portfolio summary.

Compare all three portfolios

Pavel Naruta, Fee-Only Investment Adviser and founder of Narstar

Your Adviser

Who manages your portfolio

I'm Pavel Naruta. Every account is managed by me personally, from the first trade to ongoing monitoring. Your assets are held at Interactive Brokers in your own name, and every conflict of interest is disclosed in the Form ADV.

Before this I spent nearly three years building quantitative tools for a logistics firm, working through large financial and freight datasets to find what the numbers actually showed. That habit of pushing past the surface number is how I read a company now.

Narstar is a one-person firm. The person who answers your email is the person who places your trades. It also means the firm depends on one person, disclosed as key person risk in the Form ADV.

Ask a question About Pavel

How Much It Costs

One published rate. No tiers, no setup fee, no exit fee.

Portfolio value $10,000

Annual advisory fee

Income $60 per year (0.60%)

Growth $120 per year (1.20%)

Speculative $160 per year (1.60%)

IRAs $100 per year (1.00%)

Fee calculated on average daily net liquidation value, billed quarterly in arrears. Your brokerage (Interactive Brokers) may charge its own separate fees.

Have an IRA?

Traditional, Roth, Rollover, SEP, and SIMPLE IRAs are billed at the uniform 1.00% rate, rather than the portfolio rates, no matter which portfolios the account holds. A single IRA can hold more than one model portfolio at that same rate.

Have less than $3,000?

A new client may open one $100 Starter Account in a single model portfolio. It must reach $3,000 by the last day of the sixth calendar month after opening. SIMPLE IRA participant accounts have a $0 minimum and are not eligible for the Starter Account. See full details.

Getting Started

Getting started takes three steps

A conversation, a recommendation, then we manage the account. No lengthy application, and you can stop at any step.

Answer a few questions

Tell us your goals, timeline, and how you think about risk.

We recommend a portfolio

Based on your situation, we recommend one portfolio or a combination. You decide whether to proceed.

We manage your account

We handle the trading. You can leave any time with written notice, and there's no termination penalty.

Fit & Scope

Is Narstar a fit for you?

A good fit if

You want a fee-only fiduciary to manage a stock portfolio for one published annual rate.
You're investing for years, not months.
You understand that markets go up and down, and that you can lose money.
You're willing to open an account at Interactive Brokers, starting from $3,000.
The money sits in an account we manage: individual, joint, IRA (Traditional, Roth, Rollover, SEP), employer-sponsored SIMPLE IRA, trust, or entity.

Probably not a fit if

You need certainty about future returns.
You expect to need the money in the near term.
You want index funds only, with no active stock selection.
You need financial planning, tax advice, estate planning, budgeting, or debt strategy. We don't offer any of them.
The money is in an active employer 401(k) or an RSU account at an employer brokerage. We can't manage those.

Your Options

What else you could do with this money

Four ways to invest the same money, compared
Option	What you get	What it costs	Worth it if
Doing it yourself	You do the research, place every trade, and decide what to do in a bad market.	No advisory fee. The cheapest option here. Your own time.	You enjoy the work and will keep at it through a downturn.
A robo-advisor or index funds	An algorithm builds you a portfolio of funds. Nobody is choosing the individual companies you own.	Cheaper than we are.	You want low cost and no stock selection. For a lot of people that is the right answer.
Narstar	Three model portfolios of individual stocks, selected and traded by one fee-only fiduciary, from the $3,000 standard minimum.	More than index funds, and active stock selection can trail an index for years at a time.	You want to know what you own and why, from a fiduciary you can ask directly, and you're investing for years rather than months.
A traditional advisory firm	Planning, tax, and estate work bundled with investment management.	Minimums that run well above ours.	You want the full plan. We don't offer it.

Questions

Questions we hear most

NarStar LLC is registered with the State of Utah (CRD #337496) and conditionally registered with the State of Texas. You can verify both on IAPD (opens in new tab) at any time. The adviser passed the Series 65 and SIE exams. Full background, fees, and how Narstar operates are disclosed in Form ADV, which is linked on this page. IAPD is the SEC's public database for all registered investment advisers. If a firm isn't listed there, that's a red flag. Narstar is. Learn more about what fiduciary duty actually requires.
Fee-only means the adviser's only revenue comes from client fees: no advisory commissions, no product sales. At Narstar, taxable model portfolios are charged 0.60% for Income, 1.20% for Growth, and 1.60% for Speculative. IRAs (Traditional, Roth, Rollover, SEP, and SIMPLE) are charged a uniform 1.00% annual rate regardless of model portfolio mix. Billed quarterly on the average daily value of your account. There are no signup fees and nothing owed when you leave. Interactive Brokers may charge separate brokerage commissions and fees. The fee-only structure reduces many common conflicts. It does not eliminate every conflict. Remaining conflicts are disclosed in Form ADV.
Your money is held at Interactive Brokers (opens in new tab), a publicly traded brokerage, in an account in your name. Narstar has trading authority to manage your investments but can't withdraw your money or move it anywhere. You can log in and see everything anytime. Interactive Brokers is a SIPC member, which means your cash and securities are covered up to $500,000 if the brokerage fails, plus $30 million in excess SIPC coverage. You can verify SIPC coverage on IBKR's site (opens in new tab). But SIPC coverage doesn't protect against market losses.
When markets decline, your account value goes down. That's not a malfunction, and it's not a reason to sell everything. Active stock management doesn't protect against market losses, and we don't move to cash to avoid extended declines. Nobody can reliably predict when to exit and re-enter markets. What we do during a decline is the same as any other time: hold the companies we believe in, or exit positions where the reason we bought has changed. But if a sharp decline would cause serious financial hardship, that may be a sign the position size or portfolio doesn't match your situation.
The standard minimum is $3,000 per Model Portfolio in a non-retirement account, and $3,000 per account in a Traditional, Roth, or SEP IRA, where one account can hold more than one model portfolio. A new client may open one $100 Starter Account in a single model portfolio matched to their goals and risk tolerance. It must reach $3,000 by the last day of the sixth calendar month, by deposits, investment growth, or both. SIMPLE IRA participant accounts have no minimum and are not eligible for the Starter Account. If it does not reach $3,000 by that deadline, we may liquidate it to cash and close it with 30 days' written notice. Liquidation is a taxable event. Full details on the FAQ page.

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