Pm Wealth Management, LLC (New York)

Name: Pm Wealth Management, LLC
Address: 14 Penn Plaza, New York, NY, 10122
Telephone: 866-982-7790

Pm Wealth Management, LLC is a large advisory firm based in New York. It manages $122.49 million of regulatory assets for 316 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, Florida, New Jersey, and 3 other states.

Pm Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Pm Wealth Management: assets under management

The assets under management (AUM) of Pm Wealth Management, LLC is $122.49 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $122.49 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $387.63 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is state and local bonds, which make up 13% of the firm’s portfolio. Investments in investment grade corporate bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Pm Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Pm Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Pm Wealth Management is high net worth individuals with 35 clients and $89.64 million of assets under management. Among the 11 most similar advisory firms, Pm Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $122.49 million for 168 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.

Pm Wealth Management doesn't advise any private funds.

Careers at Pm Wealth Management, LLC

The company employs 8 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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 receive compensation from other entities for client referrals.

Patrick Daniel Hayes joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Prager Metis Wealth Management Group Llc	Member	1 Aug 2018	75% - 100%	47-5331795
Marc Adam Specht	Chief executive officer	1 Aug 2018	Other	5846133
Thomas Joseph Haggerty	Chief operating officer	1 Aug 2018	Other	2471221
Patrick Daniel Hayes	Chief compliance officer	1 Jan 2019	Other	6571587

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Glenn Lawrence Friedman	Member	1 Aug 2018	Other	2448602
Joseph Rust	Member	1 Aug 2018	Other	7009320

Based in New York

The principal office where Pm Wealth Management, LLC performs its advisory services is located at 14 Penn Plaza, New York, NY 10122, which is also the mailing address of the firm. An additional office of the firm is in El Segundo, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 866-982-7790 or by fax 646-616-6167. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at pragermetiswm.com.