Prestige Wealth Management Group, LLC (Flemington)

Name: Prestige Wealth Management Group, LLC
Address: 31 State Route 12, Flemington, NJ, 08822
Telephone: 908-782-0001

Prestige Wealth Management Group, LLC is a large advisory firm based in Flemington. It manages $333.76 million of regulatory assets for 892 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Florida, New Hampshire, New Jersey, and 4 other states.

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

Prestige Wealth Management Group: assets under management

The assets under management (AUM) of Prestige Wealth Management Group, LLC is $333.76 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 8% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $333.76 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $374.17 thousand each.

Prestige Wealth Management Group has custody of $25.51 million in cash and securities for 21 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 50% of the total AUM. The second-largest asset type is exchange traded securities, which make up 42% 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 Prestige Wealth Management Group, 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 Prestige Wealth Management Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Prestige Wealth Management Group is high net worth individuals with 117 clients and $243.26 million of assets under management. Among the 12 most similar advisory firms, Prestige Wealth Management Group has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $333.76 million for 354 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.

Prestige Wealth Management Group doesn't advise any private funds.

Careers at Prestige Wealth Management Group, LLC

The company employs 10 people that are either part- or full-time employees. 70 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.

Kevin Mark Means has served as the Chief Investment Officer since 1 Sep 2016. Steven Edward Linden joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Edward Linden	Member	1 Mar 1995	25% - 50%	2084670
Roy Evans Williams	Managing member, president, ceo. chief compliance officer, and chief investment officer	1 Mar 1995	50% - 75%	1161149
Kevin Mark Means	Chief investment officer	1 Sep 2016	Other	2279192

Based in Flemington

The principal office where Prestige Wealth Management Group, LLC performs its advisory services is located at 31 State Route 12, Flemington, NJ 08822, which is also the mailing address of the firm. An additional office of the firm is in Millburn, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 908-782-0001 or by fax 908-782-4168. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at prestigewmg.com and its LinkedIn profile.