Prudent Management Associates is a large advisory firm based in Philadelphia. It manages $1 billion of regulatory assets for 589 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alaska, California, Colorado, and 8 other states.
Prudent Management Associates provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Prudent Management Associates is $1 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 120% since the beginning of its operation, and $1.6 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has a single stream of revenue. Clients pay Prudent Management Associates for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Prudent Management Associates is high net worth individuals with 164 clients and $743.77 million of assets under management. Among the 9 most similar advisory firms, Prudent Management Associates has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $1 billion for 236 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Prudent Management Associates doesn't advise any private funds.
The company employs 12 people that are either part- or full-time employees. 42 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Prudent Management Associates performs its advisory services is located at 1735 Market Street, Philadelphia, PA 19103, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 215-994-1062 or by fax 215-994-1064. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at prudentmanagement.com.