Pgim, Inc

CRD#105676
Investment Advisor Firm

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Overview

Pgim, Inc operates as a financial advisor company that has its headquarters in Newark, New Jersey. The firm oversees $998.5 billion in assets under management across 890 accounts, making it one of the largest firms in the country by assets under management (AUM). The firm 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, meaning the advisor cannot buy and sell securities for its own accounts as well as its clients' and instead must go through a broker-dealer firm to do so. Securities are tradable financial investments such as stocks, options and bonds.

Pgim, Inc oversees the majority of the company's client assets on a discretionary basis. Discretionary management means that buy and sell judgments for the client's account are made by an investment advisor without needing client consent. It also administers 24 non-discretionary accounts totaling $16.5 billion in assets. Pgim, Inc's average account size is $1.1 billion. An average financial advisor at Pgim, Inc administers fewer than one client account, making it one of the most individualized financial advisor firms in the country.

Pgim, Inc's main office is at 655 Broad St., Newark, New Jersey 7102. Pgim, Inc is allowed to serve clients across 51 U.S. states and territories.

Assets Under Management

$998.5 billion

Number of Advisors

1,006

Disclosures

No

Office Location

655 Broad St.
Newark, NJ 07102

Pgim, Inc by the Numbers

Total Assets Under Management

$998.5 billion

National Average: $3.3 billion
Total Number of Employees

1,422

National Average: 31
Total Number of Accounts

890

National Average: 1,935
Average Account Size

$1.1 billion

National Average: $1.7 million

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Products and Services

Pgim, Inc provides a number of financial services, which can consist of 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. The firm is involved in selling products or offering services aside from investment advice to its customers. The firm is also affiliated with a number of other service providers 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 61% 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

Financial management fees usually depend on which service is provided. Fees billed by Pgim, Inc likely consist of the following fee types: asset-based, fixed, performance-based or other. The firm does not provide a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 72% 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 39% 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 35% 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 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 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 manages money for a broad range of customers. The company works with banking institutions, investment companies, pooled investment vehicles, pension plans, state or municipal government entities, other investment advisers, insurance companies, sovereign wealth funds and corporations. Out of its 890 accounts, Pgim, Inc's largest client type is pooled investment vehicles. About 37% of the firm's accounts are from outside of the U.S.

  • 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