Pgim Custom Harvest LLC

CRD#290235
Investment Advisor Firm

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Learn more about Pgim Custom Harvest LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    Pgim Custom Harvest LLC is an advisory firm based in Newark, New Jersey. Pgim Custom Harvest LLC oversees $2.3 billion in assets under management across 609 accounts, placing it among the biggest investment advisory firms in the nation by assets under management (AUM). Pgim Custom Harvest LLC has a small group, including 4 financial advisors. Pgim Custom Harvest LLC does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets like options, stocks and bonds.

    Pgim Custom Harvest LLC oversees most of the company's client assets on a discretionary basis. Discretionary management signifies that a portfolio manager makes transaction decisions without requiring the client's permission. The company also has 26 non-discretionary accounts with a total of $153.9 million in AUM. The advisory firm oversees about $3.8 million for each account. The average advisor at Pgim Custom Harvest LLC administers around 152 client accounts.

    The company's headquarters is at 655 Broad Street, Newark, New Jersey 7102. The firm is registered to provide services to customers across 51 U.S. states and territories.

    Assets Under Management

    $2.3 billion

    Number of Advisors

    4

    Disclosures

    No

    Office Location

    655 Broad Street
    Newark, NJ 07102

    Pgim Custom Harvest LLC by the Numbers

    Total Assets Under Management

    $2.3 billion

    National Average: $9.0 billion
    Total Number of Employees

    10

    National Average: 71,771
    Total Number of Accounts

    609

    National Average: 4,329
    Average Account Size

    $3.8 million

    National Average: $2.1 million
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    Fee Structure

    Financial advisory fees largely vary depending on the type of financial services offered. However, fees billed by the company most likely include the following fee types: asset-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are provided by Pgim Custom Harvest LLC.

    Available

    • Offered by 70% 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 10% of firms

      Other

      Show Explanation

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

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      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.

    • Find one of the 1% 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 26% 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 0% 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 33% of firms that offer this fee type

      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.

    Back to Overview

    Types of Clients

    The firm provides services to high net worth investors, other investment advisers and corporations. Out of its 609 customers, Pgim Custom Harvest LLC's biggest client is high net worth investors, but it also manages money for 541 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers reside abroad.

    • High-Net-Worth Individuals* - 92.8%
    • Other Individuals - 0%
    • Corporations - 7.2%
    • 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

    Pgim Custom Harvest LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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