Pruco Securities, LLC (Newark)

Pruco Securities provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Pruco Securities: assets under management

The assets under management (AUM) of Pruco Securities, LLC is $6.54 billion. The firm's AUM has grown by 425% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $179.51 million in discretionary accounts and $6.37 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $451.02 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $120.86 thousand.

Pruco Securities has custody of $4.85 billion in cash and securities for 36,200 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 79% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Pruco Securities, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Pruco Securities serves?

The firm provides services to individuals, high net worth individuals, business development companies, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Pruco Securities is individuals with 49,195 clients and $5.34 billion of assets under management. Among the 7 most similar advisory firms, Pruco Securities has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $6.07 billion for 51,177 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Pruco Securities doesn't advise any private funds.

Careers at Pruco Securities, LLC

The company employs 2,600 people that are either part- or full-time employees. 92 percent of the employees work as investment advisers or researchers. 2,400 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

Indirect Owners

The SEC currently registers 2 indirect owners.

Based in Newark

The principal office where Pruco Securities, LLC performs its advisory services is located at 751 Broad Street, Newark, NJ 07102 3777, which is also the mailing address of the firm. An additional office of the firm is in Mayfield Heights, OH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-235-7637 or by fax 855-308-4434. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at prudential.com.

Registered investment advisers similar to Pruco Securities, LLC

• Blackstone Multi Asset Advisors L.L.C
• Atlanta Capital Management
• Nwq Investment Management
• Ing Investment Management Advisors B V
• Mason Investment Advisory Services
• Morgan Stanley Dean Witter Investment Group
• Driehaus Capital Management
• Trainer Wortham &
• Kennedy Associates Real Estate Counsel
• Denham Capital Management
• Sprott Asset Management
• Fermat Capital Management
• Chicago Capital Management
• Signator Investors
• Marco Consulting Group