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Progressive Financial Strategies LLC (Providence)


Progressive Financial Strategies LLC is a large advisory firm based in Providence. It manages $213.07 million of regulatory assets for 1,758 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Connecticut, Florida, and 8 other states.

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Progressive Financial Strategies provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, 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.

Progressive Financial Strategies: assets under management

The assets under management (AUM) of Progressive Financial Strategies LLC is $213.07 million. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $208.28 million in discretionary accounts and $4.79 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $120.46 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $165.07 thousand.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Progressive Financial Strategies LLC for their services and products based on a percentage of assets under management 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.

Indirect Owners

The SEC currently registers 4 indirect owners.

Name Entity Date acquired Ownership Employer ID
Inc. Fleetboston Financial Corporation Owner 1 Jan 1990 75% - 100% 05-0341324
David Francis Brochu President 1 Aug 1998 25% - 50% 1164857
Elaine Ruth Rakatansky Executive vice president 1 Aug 1998 25% - 50% 2111743
Jill Schlesinger Executive vice president 1 Aug 1998 25% - 50% 2587365

Based in Providence

The principal office where Progressive Financial Strategies LLC performs its advisory services is located at 222 Richmond St, Providence, RI 02903, which is also the mailing address of the firm. An additional office of the firm is in Cranston, RI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 401-273-1500 or by fax 401-273-8987. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at www.financialstrategies.com.


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