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