The Parkridge Group (Pittsburgh)

Name: The Parkridge Group
Address: 99 Parkridge Lane, Pittsburgh, PA, 15228
Telephone: 412-561-3330

The Parkridge Group is a large advisory firm based in Pittsburgh. It manages $147 million of regulatory assets for 60 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Ohio and Pennsylvania.

The Parkridge Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

The Parkridge Group: assets under management

The assets under management (AUM) of The Parkridge Group is $147 million. The firm's AUM has gone down by -17% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $80 million in discretionary accounts and $67 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.6 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $6.7 million.

Investments

The firm invests in investment and business development companies the most. They account for 50% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Parkridge Group for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients The Parkridge Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of The Parkridge Group is high net worth individuals with 50 clients and $137 million of assets under management. Among the 12 most similar advisory firms, The Parkridge Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $147 million for 60 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

The Parkridge Group doesn't advise any private funds.

Careers at The Parkridge Group

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. No 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Patrick James Reidy	President and managing member	1 Jan 2012	75% - 100%	1516608
David Irving Reidy	Chief compliance officer	1 Jun 2012	Other	6119068

Based in Pittsburgh

The principal office where The Parkridge Group performs its advisory services is located at 99 Parkridge Lane, Pittsburgh, PA 15228, 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 412-561-3330 or by fax 412-561-3397. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at parkridgegrp.com.