What does Park Avenue Securities do?
Park Avenue Securities LLC (PAS) is an advisor-led, full-service investment advisory and brokerage firm.
It serves individuals, high-net-worth individuals, pension and profit-sharing plans, charitable organizations, and corporations seeking ongoing investment management and financial planning.
PAS is a dual-registered broker-dealer and investment adviser, registered with the SEC since November 13, 2000. It is a wholly owned subsidiary of The Guardian Life Insurance Company of America (GLIC) and reported about $19.58 billion in regulatory assets under management (AUM) as of December 31, 2025.
Park Avenue Securities investment adviser representatives (IARs) help clients choose and manage the option that fits their goals, risk tolerance, and financial circumstances.
Key services：
- Advisory programs: PAS offers both its own advisory programs and select third-party programs
- Advisor-managed portfolios: In the Signature Portfolio program, the advisor manages the account on a discretionary basis and can invest across mutual funds, ETFs, stocks, bonds, and other securities.
- Financial planning and consulting: Clients may also receive planning or consulting around retirement, education, cash flow, risk management, wealth transfer, and investment analysis.
- Digital advisory option: PAS also offers VestWise, an automated or digital advisory program
The PAS approach is a mix of strategic asset allocation and tactical adjustments, with portfolios tailored to the client’s goals, risk tolerance, and financial circumstances.
What are the pros and cons of Park Avenue Securities?
PAS offers a wide range of services spanning investment management, financial planning, and retirement consulting.
Here’s a summary of the key advantages and disadvantages to help decide if it’s the right firm for you.
Pros of Park Avenue Securities:
- Advisor-led discretionary management: The advisor can manage the account on an ongoing basis without needing trade-by-trade approval.
- Broad program selection: Clients can access both proprietary programs and third-party advisers, offering a meaningful range of strategies, asset managers, and portfolio structures.
- Comprehensive planning services: Certain IARs offer financial planning, subscription-based planning, business exit consulting, and retirement plan advisory services.
- Ongoing relationship and review: Advisors review performance reports and meet with clients at least annually to revisit financial circumstances, objectives, and restrictions.
Cons of Park Avenue Securities:
- Negotiated, not transparent, fees: Advisory fees for most programs are negotiable between IARs and clients, meaning costs can vary materially between clients for comparable services.
- Minimums are not uniform across the platform: Entry requirements vary by program, so the service is not as simple as one clear account threshold for every client.
- Program structure can feel complicated: PAS offers a wide mix of proprietary and third-party programs, and advisors may work across both brokerage and advisory relationships, making the overall setup harder to navigate for clients with simple needs.
Park Avenue Securities fees: How much does Park Avenue Securities cost?
Park Avenue Securities’ advisor platform is not built around one single pricing format.
PAS offers both advisory fee schedules and wrap fee programs across its proprietary advisory lineup.
Park Avenue portfolio select program:
| Assets under management | Maximum client fee |
|---|---|
| $0–$499,999.99 | 2.05% |
| $500,000–$999,999.99 | 2.00% |
| $1,000,000–$1,999,999.99 | 1.95% |
| $2,000,000 and over | 1.90% |
Portfolio select also charges a $10 per-transaction fee and a $125 termination fee for IRAs and certain ERISA plans.
- Third-party investment advisory programs: IARs negotiate fees ranging from 0.50% to 1.75% of assets under management.
- Retirement plan services: Ranging from 0.10% to 1.00% of plan assets.
- Financial planning and consulting fees: Hourly fees generally range from $100 to $500 per hour, and flat fees from $500 to $25,000 per engagement.
- Platform fee: 0.05% to 0.30% annually
- VestWise: A separate lower-cost pricing structure, with a maximum annual advisory fee of 0.45%.
In addition, some programs may also incur additional trading costs, step-out trade costs, wire or transfer fees, paper statement fees, IRA trustee or custodian fees, and other account-level charges.
What is Park Avenue Securities’s minimum account size?
Minimum requirements vary by program.
| PAS proprietary program | Minimum initial investment/account requirement |
|---|---|
| Park Avenue Portfolio Select | $10,000 |
| Park Avenue Signature Portfolio | $10,000 |
| Foundations/Quantitative Innovations | $10,000 |
| Park Avenue Strategist Select Plus | Subject to individual strategist minimums, with the lowest minimum at $10,000 |
| Park Avenue Separately Managed Account Select (SMA Select) | Subject to individual investment manager minimums |
| Park Avenue Unified Managed Account Select (UMA Select) | $10,000 |
| VestWise | $5,000 |
Who should choose Park Avenue Securities?
Park Avenue Securities (PAS) is suited to investors who want ongoing, advisor-led investment management, access to a broad range of programs, and financial planning services alongside their portfolios.
Park Avenue Securities works well for:
- Clients who want a personalized advisor relationship: The service includes risk profiling, tailored portfolio design, reasonable restrictions, and at least annual reviews.
- Investors who want broad portfolio flexibility: Signature Portfolio can hold both funds and individual securities, which gives advisors room to customize.
- Investors seeking full-service advisory relationships: Clients who want a dedicated IAR to guide investment decisions and offer broader financial planning will find a structured service model here.
Who might not benefit as much:
- Fee-sensitive investors: The fee ceiling is high for a mainstream managed account, and extra fund expenses still apply.
- Smaller investors: For example, Signature Portfolio requires $10,000 to start, and some other programs depend on minimums for strategists or investment managers, so the service is not especially friendly to investors starting with a small balance.
- Investors with simple needs: PAS’s mix of programs and relationship types may feel overly complicated.
Park Avenue Securities: Is it secure?
PAS is a registered investment adviser and broker-dealer, registered with the SEC.
In advisory relationships, it owes clients a fiduciary duty. The firm is also a FINRA and SIPC member, while Signature Portfolio assets are custodied at Pershing, which sends account statements at least quarterly.
The firm also uses security measures that comply with federal law, including computer safeguards and secured files and buildings to protect personal information from unauthorized access and use.
Park Avenue Securities: Customer service
This is an advisor-led service, so support is centered on your individual financial professional rather than only on a general help desk.
Clients can contact their advisor directly, request account restrictions, and receive at least annual review meetings.
The firm also provides a general contact form for account questions, website issues, general inquiries, and customer service, and it lists a New York office plus a toll-free phone number. It also promotes a client portal and a “find a financial professional” path for prospective clients.
Park Avenue Securities: Mobile app
Park Avenue Securities does have a dedicated app called PAS NetXi. The app is mainly an account-access tool, with balances, holdings, activity, order status, and mobile access to investment information.
Users must already be PAS clients with website access, and PAS must activate the app for the account owner.
Is Park Avenue Securities worth it?
Park Avenue Securities offers a traditional advisor-led model that combines investment management, financial planning, and retirement guidance. Its strengths are ongoing human advice, advisory accounts that follow a fiduciary standard, and access to multiple program types.
The trade-offs are cost and complexity. Fees can stack up across advisory, platform, manager, and fund expenses.
PAS may fit people who want an ongoing advisor relationship and a broad menu of options. Investors who prioritize lower costs or a simpler, more transparent setup may prefer other arrangements.
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