The Private Investment Management (PIM) Program

The Private Investment Management (PIM) program is a customized portfolio management program geared toward a client's specific financial goals and investment objectives. Michael D. Sejka and Carmen Monaco have met stringent criteria based on experience and expertise, and he acts on a discretionary basis as your own personal portfolio manager.

The PIM program is designed for investors who:
  • Want a customized investment program based on an active management approach to asset allocation
  • Prefer a portfolio manager who can make investment decisions on their behalf
  • Are seeking long-term portfolio management through diversification while keeping underlying investment costs to a minimum
  • Seek the flexibility to build and maintain a portfolio using a wide array of investments
  • Value a high level of professional services and personal attention available only to high-net-worth clients

Criteria for PIM Portfolio Managers

The criteria to become a PIM Portfolio Manager is more stringent than most other programs Wells Fargo Advisors offers.

The full process to obtain the PIM designation can take 60 days to complete and includes a three-step process. The first step is meeting basic eligibility requirements, which include a minimum of two years’ experience as a portfolio manager, five years of industry experience, successful completion of various securities exams, and approval from branch and regional superiors.

Only then can a Financial Advisor complete an application, which includes questions covering investment style, strategy, philosophy, and research methods. Once approved, the Financial Advisor must complete advanced training, including an ethics exam, a proxy exam, and an advanced, 40-hour portfolio management training course.

Less than 10 percent of the firm’s Financial Advisors have met the criteria to act as PIM Portfolio Managers.

PIM Program Summary

  • Ability to hold a wide range of asset types within one portfolio, eliminating the need for multiple accounts
  • Access to qualified and experienced investment analysts to assist Portfolio Managers
  • One fee based on the size of your account, rather than traditional trade-based commission charges
  • We will guide you through a consulting process to identify your financial goals and investment objectives. Thereafter, we are able to determine the proper asset allocation and construct a portfolio of investments needed to achieve the results of the client's Envision® Plan.
As your Portfolio Manager, we will actively manage your portfolio on an ongoing, discretionary basis using the corresponding investment objectives.

By appointing experienced investment professionals to provide you with sound investment advice, manage your portfolio, and rebalance your investment mix when necessary, you free yourself from the time-consuming task of choosing and actively monitoring your investments. After allocating your investments, your Portfolio Manager manages your portfolio, monitors the markets, and tracks your performance. As part of this process, your Portfolio Manager ensures that your portfolio remains invested in financial instruments most suited to your current needs and objectives.
Fees for the PIM program include advisory services, performance measurement, transaction costs, custody services and trading. Fees are based on the assets in the account and are assessed quarterly. There is a minimum fee per calendar quarter to maintain this type of account. Advisory accounts are not designed for excessively traded or inactive accounts and may not be appropriate for all investors. During periods of lower trading activity, your costs might be lower if our compensation was based on commissions. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services, including fees and expenses. The minimum account size for this program is $50,000.
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Investment and Insurance Products are:

  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

This information is intended for use only by residents of (AZ, CA, CO, CT, DC, FL, GA, HI, IL, IN, MD, ME, MI, MO, NC, NJ, NY, OH, OR, PA, SC, TN, WA, WI, WV). Securities-related services may not be provided to individuals residing in any state not listed above. Please consult with the FA as s/he may not be registered in all states.

For parties residing outside of the U.S., this information is: (i) provided for informational purposes only, (ii) not and should not be construed in any manner as an offer to participate in any investment or to buy or sell any securities or related financial instruments, and (iii) not and should not be construed in any manner as a public offering of any financial services, securities or related financial instruments. Products and services listed may not be available, or may have restrictions, depending on client country of residence.

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN). Wells Fargo Advisors is the trade name used by Wells Fargo Clearing Services, LLC and WFAFN, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Any other referenced entity is a separate entity from WFAFN.

Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.

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