The need for unbiased wealth management has become increasingly prominent as the world continues to shift towards a remote reality — and registered investment advisors (RIAs) are at the center of this trend. With growing uncertainty in the markets today, businesses and high-net-worth individuals are turning to RIAs for their self-governing nature, fiduciary value and sophisticated financial expertise. In an effort to shine a light on the RIA space, FINTRX explores three of the largest registered investment advisors (RIAs) based in New Jersey.
1. PGIM, Inc. = ~$1T+ in AUM
With roots dating back to 1875, PGIM, Inc., formerly Prudential Investment Management, is the asset management arm of American life insurance company Prudential Financial, Inc. As a multi-manager delivering industry-leading solutions to clients worldwide, PGIM offers a range of investment strategies across asset classes and geographies including public equities, public and private fixed income, commercial mortgages and real estate. Clients of PGIM ultimately rely on superior long-term performance, risk management expertise and modern solutions to help achieve a wide range of business objectives. In addition, PGIM uses its collective knowledge and business expertise to work with public, private and non-profit sector partners to create solutions that address critical social issues with that have an enduring impact. PGIM Investments is investment manager to all PGIM US open-end companies and is a subsidiary of Prudential Financial.
- Founded: 1875
- Headquarters: Newark, NJ
- Discretionary Assets: ~1T+
- Non-Discretionary Assets: $14B+
- Total AUM: ~$1T+
- Specialties: Investment management, fixed income, equities, private capital, mutual funds, ETFs, real estate, institutional investing and multi-asset class portfolios
2. Metlife Investment Management, LLC = ~$591B+ in AUM
Established in 2006, MetLife Investment Management, LLC serves institutional investors by combining a client-centric approach with extensive asset class expertise. Focused on managing public fixed income, private capital and real estate assets, MetLife aims to deliver strong, risk-adjusted returns by building tailored portfolio solutions. MetLife Investment Management is the institutional asset management business of MetLife, Inc., one of the world’s leading financial services companies. The firm's client-centric culture enables our dedicated team of investment professionals to singularly focus on creating the tailored solutions designed to help our clients meet their unique needs and objectives. MetLife Investment Management offers a variety of products and services intended solely for investors from certain countries or regions. Your country of legal residence then determines the products or services that are available to you.
- Founded: 2006
- Headquarters: Whippany, Hanover, NJ
- Discretionary Assets: ~$494B+
- Non-Discretionary Assets: ~$6.3B+
- Total AUM: ~$501B+
- Specialties: Public fixed income, private capital and real estate assets
3. Managed Account Advisors, LLC = ~$446B+ in AUM
Founded in 2007, Managed Account Advisors, LLC is a Jersey City, New Jersey-based national financial advisory firm headquartered in Jersey City, NJ. The firm has approximately $446.6 billion under management and caters to various clients such as businesses and charitable organizations, but focuses mostly on high-net-worth families and individuals.
- Founded: 2007
- Headquarters: Jersey City, NJ
- Discretionary Assets: ~$446B+
- Non-Discretionary Assets: $0
- Total AUM: ~$446B+
- Specialties: Portfolio management, asset allocation, brokerage and consulting services
In general terms, a registered investment advisor (RIA) is a firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.
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