Prw Wealth Management LLC (Quincy)

Name: Prw Wealth Management LLC
Address: 1 Pine Hill Drive, Quincy, MA, 02169
Telephone: (617) 745-0900

Prw Wealth Management LLC is a large advisory firm based in Quincy. It manages $382.86 million of regulatory assets for 426 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Florida, Massachusetts, New Hampshire, and Texas.

Prw Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Prw Wealth Management: assets under management

The assets under management (AUM) of Prw Wealth Management LLC is $382.86 million. The firm's AUM has grown by 186% since the beginning of its operation, and $25.87 million of the total AUM is attributable to clients outside of the United States.

The firm manages $382.79 million in discretionary accounts and $70.01 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $902.8 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $35 thousand.

Prw Wealth Management has custody of $380.89 million in cash and securities for 132 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Prw Wealth Management LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Prw Wealth Management serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Prw Wealth Management is high net worth individuals with 32 clients and $266.38 million of assets under management. Among the 10 most similar advisory firms, Prw Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $352.88 million for 132 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Prw Wealth Management doesn't advise any private funds.

Careers at Prw Wealth Management LLC

The company employs 13 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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 don’t receive compensation from other entities for client referrals.

Elliot Bruce Herman has served as the Chief Investment Officer since 1 Sep 2016. Richard Alan Renwick joined the executive team most recently as the Managing Member/Co Founder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard Alan Renwick	Managing member/co-founder	1 Sep 2016	50% - 75%	1220166
William Arthur Payne	Managing member/co-founder	1 Sep 2016	50% - 75%	1328234
Catherine English Dolphyn	Chief compliance officer	1 Sep 2016	Other	3234468
Elliot Bruce Herman	Chief investment officer	1 Sep 2016	Other	2368790
Gary Alan Wentling	Chief financial officer	1 Sep 2016	Other	6152988

Based in Quincy

The principal office where Prw Wealth Management LLC performs its advisory services is located at 1 Pine Hill Drive, Quincy, MA 02169, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (617) 745-0900 or by fax (617) 745-0910. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at prwwealthmanagement.com.