Prostatis Group LLC (Hanover)

Name: Prostatis Group LLC
Address: 7580 Buckingham Blvd, Suite 180, Hanover, MD, 21076
Telephone: 410-863-1040

Prostatis Group LLC is a large advisory firm based in Hanover. It manages $180 million of regulatory assets for 500 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Delaware, Florida, Maryland, and 5 other states.

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

Prostatis Group: assets under management

The assets under management (AUM) of Prostatis Group LLC is $180 million. The firm's AUM has grown by 80% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $160 million in discretionary accounts and $20 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $355.56 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $400 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 93% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 3% 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 Prostatis Group LLC for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Prostatis Group serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Prostatis Group is individuals with 600 clients and $129 million of assets under management. Among the 5 most similar advisory firms, Prostatis Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $180 million for 625 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.

Prostatis Group doesn't advise any private funds.

Careers at Prostatis Group LLC

The company employs 10 people that are either part- or full-time employees. 80 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 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Anthony Canet	Managing member/chief compliance officer	1 Oct 2003	75% - 100%	2969136
Ryan C Herbert	Member	1 Jan 2018	25% - 50%	5123953

Based in Hanover

The principal office where Prostatis Group LLC performs its advisory services is located at 7580 Buckingham Blvd, Suite 180, Hanover, MD 21076, which is also the mailing address of the firm. An additional office of the firm is in Towson, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 410-863-1040 or by fax 410-863-1043. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at thesavvyinvestortv.com and its LinkedIn profile.