The Prosperity Consulting Group, LLC (Owings Mills)

Name: The Prosperity Consulting Group, LLC
Address: 10055 Red Run Boulevard, Owings Mills, MD, 21117
Telephone: 410-363-7211

The Prosperity Consulting Group, LLC is a large advisory firm based in Owings Mills. It manages $239.75 million of regulatory assets for 869 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Delaware, Florida, Maryland, and 3 other states.

The Prosperity Consulting Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

The Prosperity Consulting Group: assets under management

The assets under management (AUM) of The Prosperity Consulting Group, LLC is $239.75 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 102% since the beginning of its operation, and $379.36 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $239.75 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $275.89 thousand each.

The Prosperity Consulting Group has custody of $56.17 million in cash and securities for 176 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Prosperity Consulting Group, LLC for their services and products based on a percentage of assets under management, hourly charges, 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.

What kind of clients Donald Nathan Hoffman serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Donald Nathan Hoffman is high net worth individuals with 124 clients and $175.8 million of assets under management. Among the 6 most similar advisory firms, The Prosperity Consulting Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $235.43 million for 431 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.

The Prosperity Consulting Group doesn't advise any private funds.

Careers at The Prosperity Consulting Group, LLC

The company employs 14 people that are either part- or full-time employees. 64 percent of the employees work as investment advisers or researchers. 9 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Donald Nathan Hoffman has been acting as President since 1 Jan 2000. Donna Carol Gestl joined the executive team most recently as the Member/Cco.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Donald Nathan Hoffman	President	1 Jan 2000	25% - 50%	4445738
Jeffrey Mark Kleeman	Member	1 Jan 2000	Other	4897318
Mark Raymond Topolski	Member	1 Jan 2000	Other	4897321
Joel Bruce Chazen	Member	1 Jan 2000	Other	4897322
Donna Carol Gestl	Member/cco	1 Jan 2006	Other	2636738

Based in Owings Mills

The principal office where The Prosperity Consulting Group, LLC performs its advisory services is located at 10055 Red Run Boulevard, Owings Mills, MD 21117, which is also the mailing address of the firm. An additional office of the firm is in Sykesville, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 410-363-7211 or by fax 1-443-451-8381. The normal business hours are 8:30am-5:00pm on Monday - Friday. You can find more information about the New York firm at prosperityconsult.com.