Park Avenue Investment Advisory, LLC
Assets Under Management
$98.3M
Number of Clients
255
Number of Advisors
14
Average Client AUM
$385K
AUM per Advisor
$7.0M
Compensation
Fee-Only (AUM)Fixed/Hourly
About This Firm
Park Avenue Investment Advisory (PAA) provides investment advice through IARs, offering wrap fee managed account portfolios (UMA, SMA, Rep as PM). PAA acts as a fiduciary, selecting from various products like mutual funds, ETFs, stocks, and bonds. Custodians include Fidelity, Pershing, and Schwab. Certain IARs are Hybrid Advisors, also offering securities recommendations through PAA's affiliated broker-dealer, PAS.
Fee Structure
PAA charges an asset-based wrap fee, not impacted by trading levels. The maximum annual client fee is 3%, negotiable and tailored to services. The fee covers advisor, platform, and strategy components. Platform fees are tiered based on assets (see table). For Rep as PM accounts sub-advised by APA, a .15% fee is paid to APA. The advisory fee excludes fund expenses and other charges. Discounts on the minimum advisory fee are not generally available. Minimum account sizes: $50,000 for SMA/UMA, $25,000 for Rep as PM.
Areas of Practice
Location
10 Hudson Yards, New York, NY, 10001