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Pronvest Review

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ProNvest, Inc.

Pronvest, Inc.

ProNvest, Inc. is a fee-only firm headquartered in Chattanooga, Tennessee. The financial advisor has more than $927 million assets under management (AUM), and its eight advisors serve fewer than 24,300 clients. 

ProNvest, Inc. Background 

ProNvest is an independent financial planning and investment management firm that’s been in business since 2000. The registered investment advisor (RIA) specializes in retirement planning and investing, and it works with individuals, employers and plan providers. 

CEO and President Jay Jumper owns more than 25% of the company. 

ProNvest, Inc. Client Types and Minimum Account Sizes

ProNvest serves individuals and high-net-worth individuals, pension and profit sharing plans, tax-exempt employee benefit plans and tax-exempt institutions. 

The firm doesn’t have a minimum account size.

Services Offered by ProNvest, Inc.

Clients working with ProNvest have access to the following services:

  • Portfolio management
  • Pension consulting 
  • Selection of other advisors 

The firm also offers goal-based asset allocation advice, and it provides professionally managed accounts through its web-based retirement planner. In addition, advisors employ asset allocation and fund selection services that focus on mutual funds, fixed and variable annuities, investment contracts, stable value funds and collective fund vehicles.

ProNvest, Inc. Investment Philosophy

ProNvest's firm brochure says its investment approach consists of building asset allocation models that are broadly diversified. The firm also selects investments using proprietary fund analysis, and it constructs models that minimize risk. Additionally, ProNvest reallocates models to ensure they meet intended objectives and risk levels. 

The firm may also evaluate securities using charting, technical, cyclical and fundamental analysis

Fees Under ProNvest, Inc.

ProNvest is mainly compensated through asset-based fees and fixed fees. The firm charges investment advice fees as flat fees, and it receives an annual fee of up to 1.25% of market value of the securities in a plan account for plan participants. Fees are generally charged quarterly in arrears, but ProNvest may require participants of new plan providers to pay a fee quarterly in advance. For participants using specific fund advice with no active management, the firm may charge an annual fee of up to $299 or 0.10% of fair market value of the plan participant’s securities. 

Below we’ve listed the firm’s fee schedules for its non-qualified individual asset management services.

Debt securities fee schedule:

Amount of assets  Annual management fee
Up to $5 million 0.5%
$5,000,001- $10 million 0.4%
$10,000,001 - $20 million 0.3%
$20,000,001 - $40 million 0.25%
Over $40 million 0.25% of Assets over $20 million

Convertible and equities securities fee schedule:

Amount of assets Annual management fee
$0 - $5 million 1%
$5,000,000 - $30,000,000 0.50%
$30,000,000 and Above 0.50%

What to Watch Out For 

PronVest doesn’t really present any alarming features. The firm’s fee-only fee structure prevents any conflicts of interest because advisors are compensated through asset-based and fixed fees, not through commissions. 

Disclosures

This firm doesn’t have any disclosures

Opening an Account With ProNvest, Inc.

ProNvest's website lists a contact form for anyone interested in asking the firm questions about its practices. Prospective clients can also get in touch by visiting the firm’s office or contacting its principal location at (423) 648-1876.

Tips for Investing

  • If you’d like a better idea of how much your investments may earn you over time, our investment calculator can help. You’ll just need your initial investment amount, rate and frequency of contribution and expected time horizon. The calculator will do the rest. 
  • It never hurts to seek professional assistance. If you’re not sure about the DIY approach to investing, a financial advisor could be right for you. SmartAsset’s free financial advisor matching tool connects you with up to three local advisors who meet your specific needs.

All information was accurate as of the writing of this article.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research