Plante Moran Financial Advisors (PMFA) specializes in working with clients in the construction, real estate, manufacturing, private equity, not-for-profit, healthcare, life sciences, retail and other industries. The firm, which is fee-based, also ranks on SmartAsset's top financial advisor's lists for Southfield, Michigan and the state of Michigan.
PMFA currently serves a range of institutional and retail clients. As for PMFA’s staff, its advisors hold a wide collection of industry credentials, including the certified financial planner (CFP) and chartered financial analyst (CFA) designations.
Plante Moran Financial Advisors Background
PMFA has been in business since 1977, but the firm officially became a registered investment advisor (RIA) in 1993. PMFA is wholly owned by P&M Holding Group, LLP, which is a public accounting and management consulting firm. The leadership team at the firm is headed by managing partner Jim Proppe.
Plante Moran Financial Advisors Client Types and Minimum Account Sizes
PMFA serves high-net-worth individuals, non-high-net-worth individuals, partnerships, limited liability companies, employer-sponsored retirement plans, charitable organizations, trusts, estates, corporations and other businesses.
The firm generally requires a minimum account size of $500,000.
Services Offered by Plante Moran Financial Advisors
PMFA offers the following advisory services:
- Portfolio management
- Portfolio customization
- Long-term wealth preservation
- Wealth growth
- Financial planning
- Estate planning
- Tax planning and minimization
- Trust planning
- Business succession planning
- Pension plan consulting for plan sponsors
Plante Moran Financial Advisors Investment Philosophy
PMFA analyzes securities using fundamental analysis, technical analysis and cyclical analysis. The firm says it has an investment research group that uses a proprietary equity market valuation model to study current market conditions and determine equity model allocations. When conducting investment research, PMFA uses a variety of sources. These include financial newspapers, annual reports, corporate rating services, prospectuses, research materials and more.
When it comes to investments, PMFA utilizes open-end mutual funds, exchange-traded funds (ETFs), collective trusts, certificates of deposit (CDs), limited partnership interests, interests in limited liability companies, options contracts, hedge funds and other alternative investments.
Plante Moran Financial Advisors Fees
PMFA does not offer performance-based fee programs (fees based on a share of capital gains on or capital appreciation of the assets of a client) nor does the firm manage or advise on any investment products or programs that would result in side-by-side management with client accounts.
Unless otherwise agreed upon, PMFA calculates and bills fees quarterly in arrears. Fees will be based on the fair market value using the average daily balance of the assets for the calendar quarter and prorated for the actual number of days the Agreement is in effect during that quarter. If you have a margin balance, your margin debit does not reduce the fair market value of the assets being advised. If the relationship is terminated, the fees for the last quarter will be based on the average daily balance of the Assets from the first day of the quarter through one day prior to the date of termination, prorated for the actual number of days that the Agreement was in effect during the quarter.
PMFA advisory fees do not include fees or expenses that are charged by mutual funds, product issuers, brokerage commissions, transaction fees, separate account manager fees, or custodian fees. Clients whose assets are invested in mutual funds and some other investment vehicles such as exchange-traded fund (ETF) securities pay a direct advisory fee to PMFA and indirect management fees to the issuer.
What to Watch Out For
PMFA doesn’t have any disclosures listed on its Form ADV.
An important thing to note, however, is that the firm operates through a fee-based fee structure. This means that some advisors can earn commissions from the sale of investment or insurance products. This can create a potential conflict of interest, but PMFA abides by a fiduciary obligation to work in each client’s best interest.
Opening an Account with Plante Moran Financial Advisors
If you’re interested in setting up an account with PMFA, you can visit the firm’s office or you can contact a representative at (248) 352-2500. You can also see a full list of the firm’s locations at its website.
All information is accurate as of the writing of this article.
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