Prosperity Wealth Management, Inc. (San Ramon)

Prosperity Wealth Management, Inc. is a large advisory firm based in San Ramon. It manages $202.94 million of regulatory assets for 800 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 23 other states.

Prosperity Wealth Management provides financial planning services, portfolio management for individuals and small businesses, 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.

Prosperity Wealth Management: assets under management

The assets under management (AUM) of Prosperity Wealth Management, Inc. is $202.94 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 915% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $202.94 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $253.67 thousand each.

Prosperity Wealth Management has custody of $7.82 million in cash and securities for 55 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Prosperity Wealth Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Prosperity Wealth Management serves?

The only and largest group of clients of Prosperity Wealth Management is individuals with 700 clients and $202.94 million of assets under management. Among the 7 most similar advisory firms, Prosperity Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $202.94 million for 700 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.

Prosperity Wealth Management doesn't advise any private funds.

Careers at Prosperity Wealth Management, Inc.

The company employs 50 people that are either part- or full-time employees. 90 percent of the employees work as investment advisers or researchers. 48 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.

Prosperity Wealth Management, Inc. is owned by Elliot Herbert Kallen. Charles A. Ballweg joined the executive team most recently as the Chief Compliance Officer And Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Charles A. Ballweg	Chief compliance officer and owner	1 Jan 2015	25% - 50%	2835534
Elliot Herbert Kallen	Owner	1 Jan 2015	25% - 50%	2384508
Gregory John Bentley	Owner	1 Jan 2015	25% - 50%	705379
Blake William Daniels	Owner	1 Jan 2015	25% - 50%	1285106

Based in San Ramon

The principal office where Prosperity Wealth Management, Inc. performs its advisory services is located at 2333 San Ramon Valley Blvd., San Ramon, CA 94583, which is also the mailing address of the firm. An additional office of the firm is in Londonderry, NH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 925-791-4444. The normal business hours are 8am to 5pm on Monday - Friday.