Private Management Group Inc

Private Management Group, Inc. is an investment advisor firm established in 1986, with Dennis Reiland and Robert Summers serving as Co-Presidents and Portfolio Managers. The firm's Chief Financial Officer and Chief Compliance Officer is John Luciano. PMG provides investment supervisory services, managing portfolios based on client risk and return objectives. The firm has $3.5 billion in assets under supervision as of December 2022. PMG aims to develop long-term relationships with clients and manage their capital professionally while taking commensurate risks. The firm constructs individual portfolios based on client input, emphasizing absolute returns compared to a risk-free benchmark plus a required return. PMG uses three main benchmarks: Growth-Accumulation, Balanced-Accumulation, and Balanced-Cash Flow. The firm's investment philosophy focuses on fundamental analysis and may include various investment types beyond traditional stocks and bonds. PMG charges fees based on assets under management, with a tiered fee structure. The firm may receive soft dollar benefits from broker/dealers for research services. PMG has discretion over client accounts, including voting client securities. The firm's team members hold various educational backgrounds and professional designations, such as the CFA. There are no disciplinary events or material conflicts of interest disclosed for any team member. Supervision is provided by the Co-Presidents and the Chief Compliance Officer. Clients are encouraged to compare custodial statements with PMG reports for accuracy. The firm may compensate promoters for client referrals and provide additional compensation for eligible referrals or profit participation plans for employees. For more information, clients can contact John Luciano, the Chief Compliance Officer.