Progress Investment Management Company, LLC (San Francisco)


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.

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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.