Progress Investment Management Company, LLC (San Francisco)

Name: Progress Investment Management Company, LLC
Address: 33 New Montgomery St., San Francisco, CA, 94105
Telephone: 415-512-3480

Progress Investment Management Company, LLC is a large advisory firm based in San Francisco. It manages $6.28 billion of regulatory assets for 23 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, Illinois, and New York.

Progress Investment Management Company provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Progress Investment Management Company: assets under management

The assets under management (AUM) of Progress Investment Management Company, LLC is $6.28 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 67% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $6.28 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $272.99 million each.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 12% of the firm’s portfolio. Investments in government bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Progress Investment Management Company, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 Karl White serves?

The firm provides services to corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Karl White is state or municipal government entities with 16 clients and $5.72 billion of assets under management. Among the 8 most similar advisory firms, Progress Investment Management Company has the highest percentage of state or municipal government entities out of all clients.

The amount of regulatory assets under management is $6.28 billion for 23 clients. None of the firm’s clients are foreign persons or businesses.

Progress Investment Management Company doesn't advise any private funds.

Careers at Progress Investment Management Company, LLC

The company employs 31 people that are either part- or full-time employees. 29 percent of the employees work as investment advisers or researchers. No 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Karl White has been acting as President since 1 May 2004. Patricia James Gerrick has served as the Chief Investment Officer since 1 May 2017. Mona Shelice Williams joined the executive team most recently as the President & Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Beverly Ann Pasley	Chief compliance officer	1 May 2004	Other	2238312
Jr. Thurman Vernon White	Ceo & director	1 May 2004	50% - 75%	4378802
Mona Shelice Williams	Senior vice president, director	1 May 2004	Other	4379379
Jose Patricio Balagot	Senior vice president	1 May 2004	Other	4379393
Donna K. Gilding	Chief investment officer	1 May 2004	Other	4379194
Chiang Neg Peng Ngin	Senior vice president	1 May 2004	Other	4651825
Laura Kaye Horn	Assistant vice president	1 May 2004	Other	1714729
Karl White	Director	1 May 2004	Other	4807148
Inc. Mbtarf Strategic I	Class b member	1 May 2004	25% - 50%	20-1123364
Llc Progress Key Employees	Class a member	1 May 2004	50% - 75%	86-1105501
Jr. Thurman V. White	President, director	1 May 2004	25% - 50%	4378802
Donna Kathleen Gilding	Chief investment officer	1 May 2004	Other	4379194
Jose Patricio Balagot	Deputy chief investment officer	1 Jun 2004	Other	4379393
Laura Kaye Nickols	Shareholder	1 Jun 2004	Other	1714729
Laura Kaye Nickols	Vice president	1 Jul 2005	Other	1714729
Mona Shelice Williams	Executive vice president, director	1 Sep 2005	Other	4379379
Maeve Lynn Johnson Richard	Chief financial officer/chief operating officer	1 Sep 2005	Other	5042306
William J. Ziomek	Senior vice president	1 Sep 2005	Other	5044092
Alex Hsiao	Chief investment officer	1 Feb 2006	Other	5108034
Suong Chau Nguyen	Senior vice president	1 Jul 2006	Other	2310833
Michael H Mulhern	Director	1 Apr 2007	Other	4345941
Llc Progress Key Employees	Class a member	1 Jun 2008	75% - 100%	86-1105501
Mona Shelice Williams	President & director	1 May 2017	Other	4379379
Patricia James Gerrick	Chief investment officer	1 May 2017	Other	6814416

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Mbtarf	Shareholder	1 May 2004	75% - 100%	04-2460287
Massachusetts Bay Transportation Authority Retirement Fund	Shareholder	1 May 2004	75% - 100%	04-2460287

Based in San Francisco

The principal office where Progress Investment Management Company, LLC performs its advisory services is located at 33 New Montgomery St., San Francisco, CA 94105, 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 415-512-3480 or by fax 415-512-3475. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at progressinvestment.com.