Prospect Financial Services provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Prospect Financial Services reports 613 clients. They include 446 individual clients, 77 pension and profit-sharing plans, and 74 high-net-worth individuals. Of its assets, 100.0% ($431M across 1,156 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 73% | 28% |
| High-net-worth individuals | 12% | 49% |
| Pension and profit-sharing plans | 13% | 23% |
| Corporations and other businesses | 3% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 446 | $120M | 27.9% | $269K |
| High-net-worth individuals | 74 | $210M | 48.7% | $2.83M |
| Pension and profit-sharing plans | 77 | $98.8M | 22.9% | $1.28M |
| Corporations and other businesses | 16 | $2.26M | 0.5% | $141K |
| Total | 613 | $431M | 100% | $703K |
- Clients
- 446
- Regulatory AUM
- $120M
- AUM share
- 27.9%
- Avg. per client
- $269K
- Clients
- 74
- Regulatory AUM
- $210M
- AUM share
- 48.7%
- Avg. per client
- $2.83M
- Clients
- 77
- Regulatory AUM
- $98.8M
- AUM share
- 22.9%
- Avg. per client
- $1.28M
- Clients
- 16
- Regulatory AUM
- $2.26M
- AUM share
- 0.5%
- Avg. per client
- $141K
Total
- Clients
- 613
- Regulatory AUM
- $431M
- AUM share
- 100%
- Avg. per client
- $703K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Prospect Financial Services charges up to 2.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Standalone Financial Planning
- Standalone financial planning is offered for a fixed engagement fee ranging from $2,000 to $10,000 per engagement, negotiable based on the nature and complexity of the services.
Sean Rooney owns 50% to 75% of Prospect Financial Services. The leadership team of Prospect Financial Services includes Chief Compliance Officer Sean Rooney. It has 12 employees, 9 of them in advisory roles.
Staff
- 12 employees
- 9 in advisory functions
- 9 state-registered reps
- 11 broker-dealer reps
- 9 insurance agents
- Owns 50% to 75% of Prospect Financial Services LLC
Sean Rooney
Control person · since July 2021
- Owns 25% to 50% of Prospect Financial Services LLC
Jay Nathan
Control person · since July 2021
- Owns 10% to 25% of Prospect Financial Services LLC
Anthony Sgueglia
Control person · since July 2021
Prospect Financial Services’ regulatory assets grew 1.9× from $226M (March 2022) to $431M (March 2026); clients rose from 524 to 613 and employees from 9 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $431M | 613 | 12 | 1 |
| Jan 2025January 2025 | $418M | 643 | 12 | 1 |
| Apr 2024April 2024 | $301M | 563 | 11 | 2 |
| Aug 2023August 2023 | $229M | 470 | 11 | 2 |
| Mar 2022March 2022 | $226M | 524 | 9 | 2 |
Besides its headquarters, Prospect Financial Services has 0 offices, with 1 listed address in 1 state.
New York · 1 listed address
- 445 Broad Hollow Road, Suite CL-43, MelvilleHQ
Contact and registration details
- Legal name
- Prospect Financial Services LLC
- Headquarters
- 445 Broad Hollow Road, Suite CL-43, Melville, NY 11747
- Website
- Not reported
- Phone
- 631-424-5218
- SEC file
- 801-122193
- Structure
- New York LLC
- Fiscal year end
- December
Prospect Financial Services’ named custodian for separately managed accounts is LPL Financial ($431M). Prospect Financial Services does not have custody of client assets.
- LPL FinancialLPL Financial LLC · Fort Mill, SC · $431M100%
At year end, Prospect Financial Services’ separately managed accounts were mostly in bonds (51%) and stocks (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $197M across 115 positions; the largest are SL Green Rlty Corp. (6.4%), Alphabet Inc. (5.9%) and Vanguard Scottsdale Fds (5.7%).
What the accounts hold
- Stocks36%
- Exchange-traded equities35%
- Non-exchange-traded equities1%
- Funds7%
- Bonds51%
- Investment grade corporate bonds25%
- U.S. government and agency bonds15%
- State and local bonds10%
- High-yield corporate bonds1%
- Cash5%
- Other1%
- Derivatives1%
How many clients does Prospect Financial Services have?
Prospect Financial Services has 613 clients and manages $431 million for them, as of March 2026. They include 446 individual clients, 77 pension and profit-sharing plans, and 74 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 March 2026
What services does Prospect Financial Services offer?
Prospect Financial Services provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Prospect Financial Services charge?
Prospect Financial Services charges up to 2.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable.
Source: PROSPECT FINANCIAL DISCLOSURE BROCHURE, filed 9 March 2026
Which custodians does Prospect Financial Services use?
Prospect Financial Services’ separately managed account assets are held at LPL Financial LLC (Fort Mill, SC), with $431M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 March 2026
How many financial advisors does Prospect Financial Services have?
Prospect Financial Services has 9 investment adviser representatives registered with state securities authorities, out of 12 employees, and 9 perform investment advisory functions. 11 employees are registered representatives of a broker-dealer and 9 employees 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 Prospect Financial Services invest in?
At the end of its last fiscal year, Prospect Financial Services’ separately managed accounts held 35% exchange-traded equities, 25% investment grade corporate bonds, 15% U.S. government and agency bonds, 10% state and local bonds, 7% registered funds (mutual funds, ETFs, BDCs), 5% cash and equivalents, 1% non-exchange-traded equities, 1% high-yield corporate bonds and 1% derivatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Prospect Financial Services?
Prospect Financial Services’ direct owners are Sean Rooney (50% to 75%), Jay Nathan (25% to 50%) and Anthony Sgueglia (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 9 March 2026
How does Prospect Financial Services get paid?
Prospect Financial Services is paid through a percentage of assets under management 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
How do I contact Prospect Financial Services?
Prospect Financial Services’ main office is at 445 Broad Hollow Road, Suite CL-43, Melville, NY 11747. Its phone number is 631-424-5218.
