Prudent Management Associates (Philadelphia)

Name: Prudent Management Associates
Address: 1735 Market Street, Philadelphia, PA, 19103
Telephone: 215-994-1062

Prudent Management Associates is a large advisory firm based in Philadelphia. It manages $1 billion of regulatory assets for 589 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alaska, California, Colorado, and 8 other states.

Prudent Management Associates provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Prudent Management Associates: assets under management

The assets under management (AUM) of Prudent Management Associates is $1 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 120% since the beginning of its operation, and $1.6 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.7 million each.

Investments

The firm invests in investment and business development companies the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Prudent Management Associates for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Prudent Management Associates serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Prudent Management Associates is high net worth individuals with 164 clients and $743.77 million of assets under management. Among the 9 most similar advisory firms, Prudent Management Associates has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1 billion for 236 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.

Prudent Management Associates doesn't advise any private funds.

Careers at Prudent Management Associates

The company employs 12 people that are either part- or full-time employees. 42 percent of the employees work as investment advisers or researchers. 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edward Louis Snitzer	Principal	1 Nov 1982	Other	1392848
Marshall E. Associates Inc Blume	General partner	1 Jun 1983	25% - 50%	23-2151492
Inc. Keystone Development Services	General partner	1 Jun 1983	25% - 50%	23-2134105
Llc Kantwell Partners	Partner	1 Dec 1997	25% - 50%	52-2079987
Fred Daniel Snitzer	Chief operating officer	1 May 2002	Other	3076181
Llc Jbs Advisors	Partner	1 Jan 2003	Other	42-1586203
Edward Louis Snitzer	Chief compliance officer	1 Sep 2004	Other	1392848
Paul David Snitzer	General counsel	1 Jan 2011	Other	4353228
Fred Daniel Snitzer	Managing director	1 May 2015	Other	3076181
Paul David Snitzer	Chief compliance officer/general counsel	1 Mar 2016	Other	4353228

Indirect Owners

The SEC currently registers 13 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Marshall Edward Blume	General partner	1 Jun 1983	75% - 100%	1392857
Edward Louis Snitzer	Partner	1 Jun 1983	50% - 75%	1392848
Gail Snitzer	Partner	1 Jun 1983	50% - 75%	4353462
David Bruce Kantor	Partner	1 Dec 1997	50% - 75%	2714486
David Brewster Wellborn	Partner	1 Dec 1997	50% - 75%	1404182
David Bruce Kantor	Partner	1 Sep 2006	75% - 100%	2714486
Fred Daniel Snitzer	Owner	1 Dec 2011	25% - 50%	3076181
Paul David Snitzer	Owner	1 Dec 2011	25% - 50%	4353228
Andrew E. Snitzer	Owner	1 Dec 2011	25% - 50%	6019043
Barbara Solit	Owner	1 Dec 2011	25% - 50%	6019054
David Bruce Kantor	Owner	1 Sep 2016	75% - 100%	2714486
Inc. Kantor Holdings	Member	1 Sep 2016	50% - 75%	81-3952542
Loretta Blume	Owner	1 Jun 2019	75% - 100%	7174593

Based in Philadelphia

The principal office where Prudent Management Associates performs its advisory services is located at 1735 Market Street, Philadelphia, PA 19103, 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 215-994-1062 or by fax 215-994-1064. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at prudentmanagement.com.