PNC Investment is the advisory branch of PNC Bank, a national bank based in Pittsburgh. The firm’s advisory business is broad, which is befitting of such a large parent organization. PNC Investments serves tens of thousands of individual clients and thousands of institutional clients, but doesn't offer financial planning services.
PNC Wealth Management Background
The broader company of PNC was founded in 1982 when Pittsburgh National Corp. and Provident National Corp merged. It changed its name in 2000 to PNC Financial Services, which uses the marketing name PNC Wealth Management to provide investment management, wealth management and banking products and services to clients. The firm provides brokerage and advisory services through PNC Investments, LLC, a registered broker-dealer and investment advisor.
The company is publicly owned and traded on the New York Stock Exchange and has branches in 29 states.
PNC Wealth Management Client Types and Minimum Account Sizes
PNC's minimum account size requirements vary based on type of account, ranging from as little as $5,000 for the firm's PNC Directions Program to as much $500,000 for its Guided Solutions Program. Meanwhile, there is a $250,000 minimum for PNC's Portfolio Solutions, although it increases to $275,000 if you opt for a tactical allocation to variable annuities.
In addition to individuals and high-net-worth individuals, PNC also serves a many institutional investors. These include pension and profit-sharing plans as well as charitable organizations, corporations and other entities.
Services Offered by PNC Wealth Management
As mentioned earlier, PNC offers a variety of portfolio management services, which we'll explore more below:
- Portfolio Solutions: A non-discretionary wrap fee advisory program where clients retain control over investment decisions while receiving portfolio recommendations and supervision. Five asset allocation models with varying levels of risk tolerance guide investment choices in equities, fixed income and cash for long-term growth and stability.
- Capital Directions Annuities Program: This advisory program offers tailored investment strategies within annuity options, including variable, indexed-linked and traditional annuities. Clients can benefit from tax-deferred growth, potential income guarantees and death benefits aligned with their financial goals and risk profiles.
- Guided Solutions: A discretionary investment program where PNC manages diversified portfolios based on clients’ chosen allocation models. While clients collaborate with advisors to establish goals, PNC oversees all investment decisions, including rebalancing, across mutual funds, ETFs and model portofolios with varying risk levels.
- Portfolio Solutions Strategist: A discretionary program featuring professionally managed investment models, including tax-aware and socially responsible options. With investment discretion handled by PNC in partnership with Envestnet, the program adjusts portfolio allocations to stay aligned with clients’ risk profiles and goals.
- PNC Directions: A wrap-fee discretionary program with five portfolio models, composed of mutual funds and ETFs, tailored to clients’ risk tolerance and financial goals. Advisors assist in establishing the asset allocation, while PNC manages ongoing portfolio adjustments and rebalancing.
- Capital Directions: This advisory platform offers diversified, professionally managed portfolios through a selection of approved investment models. Utilizing asset types like mutual funds and ETFs, the program provides portfolio rebalancing and tax-efficiency with styles ranging from conservative to aggressive to support diverse financial objectives?.
PNC Wealth Management Investment Philosophy
PNC’s investment philosophy centers on aligning portfolios with clients’ financial goals and risk tolerance through diversified asset allocation and disciplined management. Across its programs, PNC leverages core asset allocation models that blend equities, fixed income, and cash to cater to a spectrum of risk profiles, from conservative to aggressive.
Discretionary programs like Guided Solutions and Portfolio Solutions Strategist focus on providing strategic adjustments, often incorporating tax-aware or socially responsible strategies. Non-discretionary programs, such as Portfolio Solutions, emphasize client-driven decision-making with advisory guidance.
Meanwhile, annuity-based programs like Capital Directions Annuities integrate insurance features with investment options for income stability and long-term growth. The firm's partnership with Envestnet in certain programs can provide access to specialized model strategies.
Fees Under PNC Wealth Management
Each type of account at PNC has a different fee structure. The Portfolio Solutions program charges a program fee based on a percentage of your assets under management. It is charged quarterly and is based on the average daily market value of your account over the previous quarter. This fee covers administrative, commission, execution and management expenses.
| Portfolio Solutions Program Fee Table | |
| Assets Under Management | Fee Rate |
| First $250K | 2.00% |
| Next $250K | 1.75% |
| Next $500K | 1.50% |
| Next $1MM | 1.25% |
| Next $2MM | 1.00% |
| Over $4MM | Negotiable |
The PNC Directions program has a flat rate of 1.00%, with an $80 annual minimum fee. Clients are charged quarterly based on the average daily market value of the account over the previous quarter. You’ll also be charged based on each fund you invest in.
There is also a program fee for the Capital Directions program. It is based on a percentage of total assets under management. Like the Portfolio Solutions Porgram, this fee starts at 2.00% and becomes negotiable for higher asset totals. If clients choose to use an investment model provided by a Model Provider, they will be charged separate fees.
| Capital Directions Program Fee Table | |
| Assets Under Management | Fee Rate |
| First $250K | 2.00% |
| Next $250K | 1.75% |
| Next $500K | 1.50% |
| Next $1MM | 1.25% |
| Next $2MM | 1.00% |
| Over $4MM | Negotiable |
What to Watch Out For
PNC has nine regulatory disclosures from the past 10 years listed on its SEC-filed Form ADV.
Additionally, PNC a large investment firm, which comes with both positives and negatives. On the plus side, there are all the advantages that a big bank has to offer, including banking and lending services not normally offered by financial advisory firms.
On the other hand, though, the firm has a high number of advisors and clients. If you’re looking for an advisory firm with a more family feel, PNC is unlikely to provide it. PNC also doesn't provide financial planning services.
Opening an Account With PNC Wealth Management
Those looking to open an account with PNC can contact the firm through its website or call (800) 762-6111.
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