October 24, 2016 1:29 AM ET

Capital Markets

Company Overview of Prudential Investment Management Services LLC

Company Overview

Prudential Investment Management Services LLC provides mortgage banking and investment services. The company also offers services such as real estate investments, management of mutual funds, and investment advisory services. Prudential Investment Management Services LLC was founded in 1984 and is based in Newark, New Jersey. Prudential Investment Management Services LLC operates as a subsidiary of PIFM Holdco, LLC.

Three Gateway Center

14th Floor

Newark, NJ 07102-4077

United States

Founded in 1984



Key Executives for Prudential Investment Management Services LLC

Age: 73
Compensation as of Fiscal Year 2016.

Prudential Investment Management Services LLC Key Developments

Former Participant Files Lawsuit Against Prudential Retirement Insurance and Annuity Company, Prudential Bank, FSB and Prudential Investment Management Services, LLC

A former participant of the Ferguson Enterprises Inc. 401(k) Retirement Savings Plan f/k/a Wolseley North America 401(k) filed a lawsuit against Prudential Retirement Insurance and Annuity Company, Prudential Bank, FSB and Prudential Investment Management Services, LLC. The plaintiff alleges Prudential literally has lined its pockets with tens of millions of dollars in revenue sharing payments by and through self-dealing, other prohibited transactions and breaches of its fiduciary duties. The plaintiff alleges that the kickback payments at issue are essentially part of a pay-to-play scheme in which Prudential receives payments from mutual funds in the form of fees in return for providing the mutual funds with access to its retirement plan customers. The plaintiff claims that the Prudential has entered into revenue sharing agreements and similar arrangements with various mutual funds, affiliates of mutual funds, mutual fund advisors, sub-advisors, investment funds, including collective trusts, and other investment advisors, instruments or vehicles, pursuant to which Prudential receives revenue sharing payments (which amount to kickbacks) for its own benefit from these mutual funds in violation of, inter alia, the prohibited transaction rules of the Employee Retirement Income Security Act, as well as ERISA's fiduciary rules. The plaintiff alleges that Prudential uses its ownership and control over separate accounts in which its retirement plan customers' investments are placed to negotiate for the receipt of these revenue sharing payments from mutual funds, and the revenue sharing payments have the effect of increasing the expense ratios of the mutual funds, which expenses are deducted directly from the assets of the separate accounts. The plaintiff says that Prudential describes and deceptively characterizes the revenue-sharing payments as ‘service fees’ and reimbursement for expenses racked up in providing services on behalf of the mutual funds, and that the amounts of the revenue-sharing payments bear absolutely no relationship to either the value or cost of the services, and Prudential provides the same services no matter the amount of revenue-sharing payments.

Similar Private Companies By Industry

Company Name Region
@Visory LLC United States
1 Road Partners LLC United States
11T Partners, LLC United States
123Jump.com, Inc. United States
1509225 Ontario, Inc. United States

Recent Private Companies Transactions

No transactions available in the past 12 months.

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Prudential Investment Management Services LLC, please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.