Pgim, Inc

CRD#105676
Investment Advisor Firm

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Overview

Pgim, Inc is a financial advisory firm that has its headquarters in Newark, New Jersey. The firm has $998.5 billion in assets across 890 customer accounts, making it one of the largest financial advisory firms in the country by assets under management (AUM). Pgim, Inc has a very large team of 1,422 employees, one thousand, six of whom are financial advisors. Pgim, Inc is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments like bonds, stocks and options.

Pgim, Inc oversees the majority of the firm's client assets on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell judgments for the client's account without requiring the client's authorization. It also has 24 non-discretionary accounts totaling $16.5 billion in AUM. The advisory firm's average account size is $1.1 billion. The average advisor at Pgim, Inc administers fewer than one client account, placing it among the most individualized firms in the country.

The company's central office is at 655 Broad St., Newark, New Jersey 7102. It is legally allowed to serve investors throughout 52 U.S. states and territories.

Number of Advisors

1,006

Disclosures

No

Office Location

655 Broad St.
Newark, NJ 07102

Pgim, Inc by the Numbers

Total Number of Employees

1,422

National Average: 4,943
Total Number of Accounts

890

National Average: 2,522
Average Account Size

$1.1 billion

National Average: $1.3 million

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Products and Services

Pgim, Inc offers a variety of services, including portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients, selection of other advisers, publication of newsletters, educational seminars and other services. It is engaged in selling products or offering services aside from investment advisory services to its customers. Pgim, Inc is also affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, real estate broker or dealer and commodity pool advisor.

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 63% of firms

    Portfolio Management

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

  • Find a firm that offers this service

    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.

  • Offered by 10% of firms

    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 are based on the type of financial services offered. Fee types charged by the firm may include some combination of the following fee structures: asset-based, fixed, performance-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by Pgim, Inc.

Available

  • Offered by 75% 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 17% of firms

    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.

  • 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.

  • Offered by 12% 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 37% 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 3% 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 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.

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Types of Clients

The firm works with a number of different investors. The company provides services to banking institutions, investment companies, pooled investment vehicles, pension plans, state or municipal government entities, other investment advisors, insurance companies, sovereign wealth funds and corporations. Out of its 890 accounts, Pgim, Inc's biggest client group by number of accounts is pooled investment vehicles. About 37% of the firm's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 0%
  • Other Individuals - 0%
  • Corporations - 100%
  • 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, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA