Provident Investment Management, Inc. logo

Provident Investment Management, Inc.

Updated today

Client assets under management

$1,107,269,431

Clients

318

71% high-net worth

Advisors

5

of 10 employees

Firm type

Team

4-10 advisors or $500M+ in AUM

Clients per advisor

64

Typical

Average account size

$3,481,979

About

Provident Investment Management serves individual and institutional clients — including high net worth individuals, trusts, estates, pension and profit-sharing plans, and charitable organizations — by providing discretionary and non-discretionary investment advisory services, portfolio management, and limited financial planning as part of its advisory relationship. The firm also offers management of “held-away” accounts (401(k)s, HSAs, annuities, 529 plans) through the Pontera platform and advises clients on implementation while custodial services are provided primarily through Charles Schwab.

Provident’s investment process is a fundamental, bottom-up approach that emphasizes individual security research and active portfolio construction, with separate strategies for growth equities, a Dividend Total Return strategy, laddered fixed income, and occasional fixed income alternatives. Accounts are monitored continuously, with clients receiving quarterly account statements and periodic personal letters, as well as a monthly “Investment Comments” publication discussing the firm’s market views and portfolio changes.

Compared with many peer teams, Provident manages a relatively large asset base for its size — roughly $1.13 billion across five advisors — and the brochure emphasizes performance-oriented goals (including the stated aim to “beat the market”) alongside client reporting and commentary, which the firm distributes to clients. The firm’s use of the Pontera order-management platform to integrate and rebalance held-away workplace accounts, its practice of seeking internal cross prices for fixed-income trades, and limited proxy-voting activity (handled by custodians except for one institutional client) are additional operational features that distinguish it from many peers.

Client services

Financial planning Portfolio management

Expertise

Active portfolio management Concentrated stock management

Fee options

Percentage

$0 - $1,000,000: 1.0% per year $1,000,000 - $3,000,000: 0.8% per year $3,000,000 - $5,000,000: 0.7% per year $5,000,000+: 0.6% per year

Other

Account minimum: $500,000 Fee-only: Fee only basis; no commissions or other compensation

Main office location

Provident Investment Management, Inc.

39555 Orchard Hill Place, Ste 139

Novi MI 48375, United States

Number of offices

1

Most active in

Alabama · Arizona · California · Florida · Georgia · Illinois · Indiana · Massachusetts · Michigan · Nebraska · New Hampshire · New York · North Carolina · Ohio · Oregon · Tennessee · Texas · Virginia · Washington

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

Advisors at this firm

user avatar

James S

CFA®, Series 63

Novi, MI

Provident Investment Management, Inc.

James Skubik is a CFA® charterholder with four years of industry experience. He has been with Provident Investment Management, Inc. since 2017 and previously worked at Long Lake Capital Management, LLC from 2015 to 2017. Provident Investment Management provides discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, charitable organizations, and other entities. The firm employs a fundamental, bottom-up investment approach with distinct strategies for growth equities, dividend total return, and laddered fixed-income portfolios, managing approximately $1.23 billion for about 349 clients.

Active portfolio management Concentrated stock management
user avatar

Eric W

CFA®, Series 66

Novi, MI

Provident Investment Management, Inc.

Eric Wathen is a CFA® charterholder and holds a Series 66 license with 10 years of industry experience. He is currently with Provident Investment Management, Inc., where he has worked since 2023. Prior to that, he was with ESW Management Services, LLC from 2018 to 2023 and Ameriprise Financial Services, Inc. from 2015 to 2018. Provident Investment Management provides discretionary portfolio management to individuals, trusts, estates, pension and profit-sharing plans, and charitable organizations. The firm employs a fundamental, bottom-up investment process focused on individual securities and manages approximately $1.23 billion for about 349 clients.

Active portfolio management Concentrated stock management
user avatar

Miles P

CFA®, Series 65

Novi, MI

Provident Investment Management, Inc.

Miles Putnam is a CFA® charterholder with 15 years of industry experience, currently serving at Provident Investment Management, Inc. since 2010. He holds the Series 65 designation and works out of Novi, MI as part of a six-advisor team. Provident Investment Management provides discretionary portfolio management to individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and other entities. The firm employs a fundamental, bottom-up investment approach focused on individual securities, managing approximately $1.23 billion for about 349 clients.

Active portfolio management Concentrated stock management
user avatar

Scott H

CFA®

Novi, MI

Provident Investment Management, Inc.

Scott Horsburgh is a CFA® charterholder with 15 years of industry experience. He has been with Provident Investment Management, Inc. since 1992. Provident Investment Management provides discretionary portfolio management to individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and other entities, managing approximately $1.23 billion for about 349 clients. The firm employs a fundamental, bottom-up investment process focused on individual securities and distinct strategies for growth equities, dividend total return, and laddered fixed-income portfolios.

Active portfolio management Concentrated stock management
user avatar

Daniel B

CFA®

Novi, MI

Provident Investment Management, Inc.

Daniel Boyle is a CFA® charterholder with 15 years of industry experience. He has been with Provident Investment Management, Inc. since 2004. Provident Investment Management provides discretionary portfolio management to individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and other entities. The firm applies a fundamental, bottom-up investment process focused on individual securities and manages approximately $1.23 billion for around 349 clients.

Active portfolio management Concentrated stock management
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