Provence Wealth Management Group

CRD#279037
Investment Advisor Firm

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Overview

Provence Wealth Management Group operates as a financial advisor firm based in Irvine, California. Provence Wealth Management Group manages $145.1 million in total assets across 449 customer accounts, placing it in the mid-tier of firms in the nation by assets under management (AUM). Provence Wealth Management Group has a small team of four employees, all of whom are financial advisors. Provence Wealth Management Group is not a registered broker-dealer, meaning the company is not able to buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets such as options, stocks and bonds.

Provence Wealth Management Group manages all of the firm's client assets in a discretionary manner. Discretionary management means that a portfolio manager makes transaction judgments for the client's account without needing client authorization. The company oversees about $323,088 for every client account. The average advisor at Provence Wealth Management Group manages around 112 client accounts.

The firm's main office is at 114 Pacifica, Irvine, California 92618. It is permitted to serve investors throughout a few states, including California and Texas.

Assets Under Management

$145.1 million

Number of Advisors

4

Disclosures

No

Office Location

114 Pacifica
Irvine, CA 92618

Provence Wealth Management Group by the Numbers

Total Assets Under Management

$145.1 million

National Average: $3.7 billion
Total Number of Employees

4

National Average: 29
Total Number of Accounts

449

National Average: 2,073
Average Account Size

$323.1 thousand

National Average: $1.8 million

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Products and Services

Provence Wealth Management Group provides a variety of financial services, which can consist of portfolio management for individuals and small businesses, pension consulting services, selection of other advisers and publication of newsletters. The firm is not involved in selling products or offering services apart from investment advisory services to its investment advisory customers.

Core Advisor Services

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    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 62% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Offered by 4% of firms

    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

A financial advisor's fees usually depend on which services are offered. However, fee types charged by the firm most likely include the following fee structures: asset-based, hourly or fixed. Provence Wealth Management Group does participate in a wrap fee program, in which the firm offers a bundle of services for a single fee.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 35% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The firm caters to retail investors, high net worth investors and pension plans. Out of its 449 accounts, Provence Wealth Management Group's biggest client group is high net worth investors, but it also manages money for 114 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's clients are non-U.S. persons.

  • High-Net-Worth Individuals* - 48.93%
  • Other Individuals - 43.78%
  • Corporations - 7.3%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Provence Wealth Management Group does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Provence Wealth Management Group

Fina Sneed
Irvine, CA
Stephanie Hammell
Irvine, CA

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This content was compiled from the SEC and FINRA