Progress Alliance Investment Services
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
Progress Alliance Investment Services provides portfolio management, financial planning, and investment consulting primarily for individual (non‑high‑net‑worth) clients, and also accepts pension plans, charitable organizations, and other small entities. Services described in the brochure include discretionary active and passive portfolio management, assistance selecting and monitoring third‑party portfolio managers, and both wrap and non‑wrap account programs.
The firm collects standard suitability information (risk tolerance, time horizon, income and liquidity needs) and tailors account objectives accordingly; accounts are generally managed on a discretionary basis and may be overseen by third‑party managers. PAIS offers planning and consulting engagements (flat, hourly, or asset‑based), uses third‑party planning software and reporting vendors, and provides quarterly performance reporting and periodic supervisory surveillances.
What distinguishes PAIS from many peers is its small, essentially solo practice model combined with insurance business activities: the brochure discloses the principal is a licensed insurance agent, the IARs divide time between advisory work and insurance programs, and the firm may recommend fixed indexed insurance products that generate commissions. The firm also sponsors wrap‑fee programs, hosts educational seminars (sometimes sponsored), and relies on third‑party managers and custodians (including arrangements referenced with LPL, SEI, and an investment manager) for certain donor‑advised and managed accounts—attributes that the brochure highlights as material and less common among similar supported firms.
Client services
Expertise
Fee options
Flat fees generally range from $200 to $10,000; negotiable.
Commissions may be paid on certain securities or fixed indexed insurance products sold; commissions are separate from advisory fees.
Hourly fees generally range from $100 to $500 per hour; negotiable.
Fee-only: Flat fees generally range from $200 to $10,000. Hourly fees generally range from $100 to $500 per hour. Fees are negotiable.
Main office
See officeIndianapolis IN
Advisors at this office
1
Offices (2)
Most active in
Indiana
Also doing business as
Jay A. Lerman · Jay A. Lerman, M.S.I.A. · Jay A. Lerman, M.S.I.A., R.I.A. · Lerman Financial Group · Lerman Financial Group, Inc. · Progress Alliance Investment Services
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Is not active or affiliated with:
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
Forms ADV
Advisors at this firm
Jay L
Series 65
Indianapolis, IN
Progress Alliance Investment Services
Jay Lerman is a financial advisor at Progress Alliance Investment Services with 20 years of industry experience. He holds the Series 65 designation and has worked at Lerman Financial Group, Inc. since 2003 and First Allied Advisory Services from 2010 to 2017. He serves as a director for the Society of Financial Services Professionals, a nonprofit organization. Progress Alliance Investment Services provides portfolio management, financial planning, and investment consulting primarily for individual clients, pension plans, and small entities. The firm offers discretionary active and passive management, third-party manager selection, and both wrap and non-wrap account programs, operating a small practice model combined with insurance business activities.
Jerry G
ChFC®, Series 63, Series 65
Englewood, CO
Progress Alliance Investment Services
Jerry Gruber is a financial advisor with Progress Alliance Investment Services in Englewood, Colorado, holding the ChFC® designation and Series 63 and Series 65 licenses. He has 42 years of industry experience, having previously worked at firms including Ameriprise Financial Services, National Planning Corporation, and Greenbook Investment Management. Outside of advisory work, he serves as director of marketing for NEOPP Consulting and is president of Rocky Mountain Financial Consultants, Inc., both consulting businesses. Progress Alliance Investment Services provides portfolio management, financial planning, and investment consulting primarily for individual clients, as well as pension plans and charitable organizations. The firm offers discretionary portfolio management, third-party manager oversight, and both wrap and non-wrap account programs, typically managing accounts based on client suitability information.
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