Prudential Advisors is now Prudential Wealth Advisors, the company announced Thursday, in a rebranding designed to reflect its focus on advisors and their clients.
“It’s an important milestone in the evolution of our business as we continue to build out a broader wealth management and financial planning firm," Prudential Wealth Advisors’ Chief Marketing Officer Mike Klein told InvestmentNews.
"Ultimately our goal is to recruit more wealth management teams, and over the past 9-12 months we’ve been seeing success," he added.
The wealth management arm of insurance giant Prudential, Prudential Wealth Advisors has over 3,000 advisors.
“Prudential Wealth Advisors reflects the work our advisors are doing every day – delivering holistic planning across insurance, annuities, financial planning, and investments to help clients build, manage, and protect wealth,” said Pat Hynes, president of Prudential Wealth Advisors, in a statement.
The wealth management business also pointed to its partnership with LPL Financial. First announced in August 2023, the partnership saw Prudential transition the retail brokerage and investment advisory assets of its financial advisors to LPL from Fidelity Financial Services. Integration was completed in 2024, with LPL acting as a service provider for the advisors. Last year, the two companies expanded the partnership with a retirement income tie-up.
Set against this backdrop, Prudential Wealth Advisors says it has grown assets under management more than 60% in less than three years, from approximately $27 billion in 2023 to $44 billion today.
“We’ve invested in the tools, resources, and local expertise to help advisors grow, backed by Prudential’s trusted brand, award-winning technology, and local leadership support and LPL Financial’s industry-leading investment platform,” said Prudential’s Hynes, in the statement. “The result is a compelling value proposition – and strong momentum with advisors choosing to build their futures here.”
Earlier this year, Prudential Wealth Advisors’ Klein told InvestmentNews how the company is using AI technology to trawl through vast amounts of historic data and provide its advisors with information carefully crafted to the needs of each client.
Prudential Wealth Advisors teamed up with InvestmentNews as the headline event partner for the glitzy InvestmentNews Awards earlier this year, and is now throwing its support behind the Women Advisor Summit and the Women to Watch Awards on Nov. 5.
"Our move into wealth is, in fact, one of the reasons we were so excited to sponsor the InvestmentNews awards earlier this year," Klein said, this week. "We feel we have a very strong value proposition, backed of course by Prudential and in partnership with LPL, and have a lot to offer experienced wealth managers out there and their clients."
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