Proficio Capital Partners LLC (Newton)

Name: Proficio Capital Partners LLC
Address: 300 Washington Street Ste 601, Newton, MA, 02458 1655
Telephone: 617-340-8425

Proficio Capital Partners LLC is a large advisory firm based in Newton. It manages $827.8 million of regulatory assets for 72 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, California, Colorado, and 14 other states.

Proficio Capital Partners provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, 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.

Proficio Capital Partners: assets under management

The assets under management (AUM) of Proficio Capital Partners LLC is $827.8 million. The firm's AUM has grown by 184% since the beginning of its operation, and $96.18 million of the total AUM is attributable to clients outside of the United States.

The firm manages $782.82 million in discretionary accounts and $44.97 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $15.35 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.14 million.

Proficio Capital Partners has custody of $26.73 million in cash and securities for 22 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 40% of the total AUM. The second-largest asset type is other assets, which make up 23% of the firm’s portfolio. Investments in state and local bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Proficio Capital Partners LLC for their services and products based on a percentage of assets under management 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 Proficio Capital Partners serves?

The firm provides services to other investment advisers, high net worth individuals, and pooled investment vehicles. The largest group of clients of Proficio Capital Partners is high net worth individuals with 48 clients and $777.33 million of assets under management. Among the 9 most similar advisory firms, Proficio Capital Partners has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $827.8 million for 53 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 17% of the firm’s clients are foreign persons or businesses.

Proficio Capital Partners also advises several private funds.

Careers at Proficio Capital Partners LLC

The company employs 10 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Matthew Harrison Wosk	Managing member	1 Aug 2014	50% - 75%	4010471
Robert J Haber	Managing member	1 Aug 2014	Other	5042295
Daniel Katz	Member	1 Aug 2014	Other	6537753
David Katz	Member	1 Aug 2014	Other	6537757
Dina Wosk	Member	1 Aug 2014	Other	6537759
Sabra Katz	Member	1 Aug 2014	Other	6537764
Peter Walter Kronberg	General counsel/chief compliance officer	1 Jun 2015	Other	5983501
Justin Thompson Sussman	Chief operating officer/partner	1 Sep 2015	Other	4879145
Katz Family 2015 Trust	Member class c shares	1 Jan 2016	Other	47-7207686

Based in Newton

The principal office where Proficio Capital Partners LLC performs its advisory services is located at 300 Washington Street Ste 601, Newton, MA 02458 1655, 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 617-340-8425. The normal business hours are 8 am - 4 pm on Monday - Friday. You can find more information about the New York firm at procapitalpartners.net and its LinkedIn profile.