Prosperity Planning, Inc. (Riverside)


Prosperity Planning, Inc. is a large advisory firm based in Riverside. It manages $181.77 million of regulatory assets for 641 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Kansas, Missouri, and Texas.

Prosperity Planning provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Prosperity Planning: assets under management

The assets under management (AUM) of Prosperity Planning, Inc. is $181.77 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $179.73 million in discretionary accounts and $2.05 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $282.15 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $511.83 thousand.
Prosperity Planning has custody of $7.45 million in cash and securities for 10 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 80% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Prosperity Planning, Inc. for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Prosperity Planning serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Prosperity Planning is high net worth individuals with 69 clients and $131.76 million of assets under management. Among the 6 most similar advisory firms, Prosperity Planning has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $180.65 million for 214 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Prosperity Planning doesn't advise any private funds.

Careers at Prosperity Planning, Inc.

The company employs 9 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Lucinda Lynn Richey President, partner, chief compliance officer 1 Aug 2018 50% - 75% 2723663
Kenneth Austin Borum Vice president, partner 1 Aug 2018 25% - 50% 4776520
Ryan Kent Noble Partner 1 Aug 2018 25% - 50% 4931140

Based in Riverside

The principal office where Prosperity Planning, Inc. performs its advisory services is located at 1805 Nw Platte Road, Riverside, MO 64150, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 816-587-7526 or by fax 816-587-0960. The normal business hours are 8:30 - 5:00 pm on Monday - Friday. You can find more information about the New York firm at prosperityplanninginc.com and its LinkedIn profile.

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