Thrive Wealth Management, LLC (Audubon)

Name: Thrive Wealth Management, LLC
Address: 2650 Audubon Road, Audubon, PA, 19403
Telephone: 215-376-5530

Thrive Wealth Management, LLC is a large advisory firm based in Audubon. It manages $278.59 million of regulatory assets for 846 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Connecticut, Florida, New Jersey, and 3 other states.

Thrive Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Thrive Wealth Management: assets under management

The assets under management (AUM) of Thrive Wealth Management, LLC is $278.59 million. The firm's AUM has grown by 75% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $247.65 million in discretionary accounts and $30.94 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $298.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.82 million.

Investments

The firm invests in investment and business development companies the most. They account for 77% of the total AUM. The second-largest asset type is exchange traded securities, which make up 17% of the firm’s portfolio. Investments in state and local bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Thrive Wealth Management, 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 Thrive Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Thrive Wealth Management is high net worth individuals with 69 clients and $199.82 million of assets under management. Among the 12 most similar advisory firms, Thrive Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $272.82 million for 286 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.

Thrive Wealth Management doesn't advise any private funds.

Careers at Thrive Wealth Management, LLC

The company employs 9 people that are either part- or full-time employees. 89 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Stephen P Erfle	Managing member	1 Oct 2013	50% - 75%	4845587
Michael Anthony Ptaszenski	Managing member/chief compliance officer	1 Oct 2013	50% - 75%	4800366
Stephen Philip Erfle	Managing member	1 Oct 2013	50% - 75%	4845587

Based in Audubon

The principal office where Thrive Wealth Management, LLC performs its advisory services is located at 2650 Audubon Road, Audubon, PA 19403, which is also the mailing address of the firm. An additional office of the firm is in Yardley, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-376-5530 or by fax 215-376-5532. 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 thrivewealth.com.