Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
- Selection of Others Advisors
- Other
Types of Clients
- Pension & Profit Sharing Plans
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Promanage, LLC Overview
PROMANAGE, LLC is an investment advisory firm that has been providing financial services since 2004. Headquartered in Chicago, IL, the company offers fee-only financial advisory services that are focused exclusively on investment advice. This means that PROMANAGE does not earn commissions or any other form of compensation based on the products or services clients buy. The firm offers comprehensive financial planning services that are tailored to meet the unique needs of each client. From portfolio management for institutional clients and businesses to pension consulting services, PROMANAGE provides a wide range of investment advisory services. Additionally, they offer selection services for other advisors and provide comprehensive reports on Retirement Readiness Statements and Financial Wellness Applications. PROMANAGE provides clients with investment strategies and advice to help them achieve their financial goals. The firm is focused on delivering personalized, innovative solutions that help clients navigate complex investment scenarios and achieve their long-term financial objectives. With a team of experienced professionals, PROMANAGE understands how to help their clients build strong, successful investment portfolios. Overall, PROMANAGE, LLC is a highly reputable investment advisory firm that provides trusted, reliable financial planning services tailored to clients' individual needs.
PROMANAGE, LLC is a leading financial firm that caters to various types of clients. The firm primarily serves pension or profit sharing plans, providing them with sound financial advice and meticulous portfolio management. Additionally, the firm's diverse range of clients also includes high net worth individuals, corporations, and non-profit entities. PROMANAGE, LLC is skilled in adapting their financial offerings to suit the unique needs of each client, offering tailored solutions that ensure maximum growth and returns. PROMANAGE, LLC recognizes that each client has different needs and therefore offers flexible fee structures to accommodate these varying requirements. The firm provides clients with several fee choices based on the services provided, including percentage of AUM, hourly fees, and fixed fees. For clients seeking long-term investment management, the percentage of AUM package may be the most beneficial. Clients seeking more hands-on services, like financial planning, may prefer hourly fees. PROMANAGE, LLC prides itself on offering transparent and competitive fee structures that prioritize the needs of their clients.
Typical Clients, Fee Structures & Investment Minimum
According to PROMANAGE, LLC's Part 2 Brochure, there is no mention of an investment minimum.
How This Office Can Help Bell County, TX Residents
ProManage is an organization that offers financial planning services to clients in Bell County, TX. They have a range of services that cater to almost any financial situation that an individual could face. Clients may be facing a range of financial needs, from debt consolidation to retirement planning. ProManage assists with these needs by offering individualized financial planning based on the client's specific situation. Additionally, they offer practical advice on saving money and reducing financial stress, which may be especially valuable for those facing financial difficulties due to the current economic climate. For those struggling with debt, ProManage can help with debt consolidation, budgeting, and creating a plan to work towards paying off debt over time. They also offer retirement planning services to help clients plan for their future and ensure they're financially stable during retirement. ProManage also helps individuals with investments, including selecting and managing investments, as well as diversifying portfolios to minimize risk. Overall, ProManage provides tailored financial planning services to help those in Bell County, TX achieve their financial goals and improve their financial well-being.
Services Offered by Promanage, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Promanage, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Promanage, LLC is registered to service clients in the following states:
- Illinois
- Indiana
- Michigan
- Minnesota
- Missouri
- Texas
- Wisconsin
Disciplinary History
Promanage, LLC does not have any disclosures. Please visit it's Form ADV for more details.