Park Avenue Securities: AUM & Ownership

Clients

Park Avenue Securities serves 82,118 clients, 17,261 of them high-net-worth individuals. The average client has about $238,000 with the firm, and high-net-worth clients hold 48% of its $19.6 billion in assets.

Regulatory assets by client type

Individuals63,006 clients47%
High-net-worth individuals17,261 clients48%
Corporations and other businesses397 clients2%
OtherPension and profit-sharing plans, Charitable organizations, Other3%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	63,006	$9,109,655,680	46.5%	$145K
High-net-worth individuals	17,261	$9,399,861,261	48.0%	$545K
Pension and profit-sharing plans	1,139	$344,267,049	1.8%	$302K
Charitable organizations	235	$92,450,979	0.5%	$393K
Corporations and other businesses	397	$486,365,782	2.5%	$1.23M
Other	80	$143,165,100	0.7%	$1.79M
Total	82,118	$19,575,765,851	100%	$238K

Individuals (other than HNW)

Clients: 63,006
Regulatory AUM: $9,109,655,680
Share: 46.5%
Avg. per client: $145K

High-net-worth individuals

Clients: 17,261
Regulatory AUM: $9,399,861,261
Share: 48.0%
Avg. per client: $545K

Pension and profit-sharing plans

Clients: 1,139
Regulatory AUM: $344,267,049
Share: 1.8%
Avg. per client: $302K

Charitable organizations

Clients: 235
Regulatory AUM: $92,450,979
Share: 0.5%
Avg. per client: $393K

Corporations and other businesses

Clients: 397
Regulatory AUM: $486,365,782
Share: 2.5%
Avg. per client: $1.23M

Other

Clients: 80
Regulatory AUM: $143,165,100
Share: 0.7%
Avg. per client: $1.79M

Total

Clients: 82,118
Regulatory AUM: $19,575,765,851
Share: 100%
Avg. per client: $238K

What it does

Park Avenue Securities provides financial planning, portfolio management for individuals and small businesses, selecting other managers and educational seminars. It is paid through a percentage of assets, hourly charges and fixed fees.

Park Avenue Securities provided financial planning to 2,000 clients last fiscal year and advises no private funds.

90.1% of assets ($17.64B across 78,667 accounts) are managed with discretion; $1.94B across 3,451 accounts are not. $17.64B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 38,649 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks75%
Funds17%
Bonds5%
- State and local bonds3%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
Cash3%

Custodians

Park Avenue Securities has custody of $278.2M for 302 clients.

Managed account assets by custodian

All other custodians$19.58B100%

Ownership and leadership

The Guardian Life Insurance Company of America owns 75% or more of Park Avenue Securities.

Who owns the firm

Park Avenue Securities LLC· the adviser

The Guardian Life Insurance Company of America
Control person · since December 2019
Owns 75% or more of Park Avenue Securities LLC

Leadership

Marianne Grace Caswell
President and Elected Member
Joseph Michael Gallo
Chief Compliance Officer
Allen Warren Boggs
Head of Product & Supervision
Kate Davarashvili
FINOP/Principal Financial Officer.
Carl Desrochers
Elected Member
Joshua Neil Hergan
General Counsel
Carly Pritchard Maher
Elected Member & Head of Wealth Management Strategy and Business Operations
Michael John Ryniker
Principal Operations Officer
Meg R Vecchi
Elected Member

Staff

2,073 employees
2,054 in advisory functions
1,892 state-registered reps
1,892 broker-dealer reps
1,787 insurance agents
19 soliciting firms

Reported holdings

Park Avenue Securities’ reported 13F holdings total $16.0M across 1,776 positions, and the ten largest make up 30.2% of it.

$16.0M
Reported 13F value: 1,776
Positions: 30.2%
In the 10 largest: +25.1%
Value vs. prior quarter

Ten largest positions, share of reported value

iShares TR · Core S&P500 ETF8.7%
iShares TR · Core Univrsl Usd3.7%
iShares TR · S&P 500 Grwt ETF3.3%
Blackrock ETF Trust · iShares US Equit3.3%
iShares TR · S&P 500 Val ETF2.6%
iShares Inc. · Core MSCI Emkt2.2%
Blackrock ETF Trust · Isha I IN TE ETF1.8%
iShares TR · Eafe Value ETF1.7%
iShares TR · Eafe Grwth ETF1.7%
Nvidia Corporation1.4%

Together, the ten largest are 30.2% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 20 July 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $16.0M is not its $19.58B in regulatory assets and does not represent any individual client's portfolio.

Fees

Park Avenue Securities is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees).

Park Avenue Securities’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Park Avenue Securities has 543 offices, with 26 listed addresses across 13 states.

Listed office addresses by state

New York · 6 listed addresses

10 Hudson Yards, New YorkHQ
535 Fifth Avenue, New York
437 Madison Avenue, New York
200 Broadhollow Road, Melville
900 Stewart Ave, Garden City
800 Westchester Avenue, Rye Brook

Other business names

Park Avenue Securities has reported 1 other business name to the SEC.

Park Avenue Wealth Management

Registration details

Legal name: Park Avenue Securities LLC
Headquarters: 10 Hudson Yards, New York, NY 10001
Phone: 18886004667
Website: Not reported
SEC file: 801-58108
Structure: Delaware LLC
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Park Avenue Securities have?

Park Avenue Securities has 82,118 clients and manages $19.6 billion for them, as of September 2026. They include 63,006 other individuals, 17,261 high-net-worth individuals and 1,139 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 September 2026

What services does Park Avenue Securities offer?

Park Avenue Securities provides financial planning, portfolio management for individuals and small businesses, selecting other managers and educational seminars.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Park Avenue Securities have?

Park Avenue Securities has 1,892 investment adviser representatives registered with state securities authorities, out of 2,073 employees, and 2,054 perform investment advisory functions. 1,892 are registered representatives of a broker-dealer and 1,787 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Park Avenue Securities invest in?

At the end of its last fiscal year, Park Avenue Securities’ separately managed accounts held 75% exchange-traded equities, 17% registered funds (mutual funds, ETFs, BDCs), 3% state and local bonds, 3% cash and equivalents, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Park Avenue Securities?

Park Avenue Securities’ direct owner is the Guardian Life Insurance Company of America (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 8 September 2026

How does Park Avenue Securities get paid?

Park Avenue Securities is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file