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Cl Wealth Management LLC is a large advisory firm based in New York. It manages $242.85 million of regulatory assets for 1,618 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 39 other states.
Cl Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.
Cl Wealth Management: assets under management
The assets under management (AUM) of Cl Wealth Management LLC is $242.85 million. The firm's AUM has grown by 296% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The firm manages $193.22 million in discretionary accounts and $49.63 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $133.07 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $298.97 thousand.
Cl Wealth Management has custody of $11.45 million in cash and securities for 53 clients in total but doesn’t act as a qualified custodian.
Investments
The firm invests in investment and business development companies the most. They account for 63% of the total AUM. The second-largest asset type is exchange traded securities, which make up 27% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.
Fees & Commissions
The advisory firm has several streams of revenue. Clients pay Cl Wealth Management LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
What kind of clients Craig Michael Gould serves?
The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Craig Michael Gould is individuals with 1,504 clients and $207.85 million of assets under management. Among the 8 most similar advisory firms, Cl Wealth Management has the 2nd highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $242.85 million for 1,568 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Cl Wealth Management doesn't advise any private funds.
Careers at Cl Wealth Management LLC
The company employs 52 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 52 employees are registered as investment adviser representatives with the state securities authorities.
There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
Craig Michael Gould has been acting as President since 1 Sep 2013. Pks Holding Llc joined the executive team most recently as the Member.
Direct owners and executive officers
| Name | Entity | Date acquired | Ownership | Employer ID |
|---|---|---|---|---|
| Harvey Seward Martin | Chief operating officer | 1 Aug 2005 | Other | 1001534 |
| Robert Philip Mather | Senior vice president | 1 Feb 2011 | Other | 1764918 |
| Craig Michael Gould | President | 1 Sep 2013 | Other | 2367293 |
| Llc Prime United Holdings | Holding company | 1 Sep 2013 | 75% - 100% | 45-3719544 |
| Albert Akerman | Chief compliance officer | 1 Sep 2013 | Other | 1699114 |
| Howard Davis | Cco | 1 Dec 2014 | Other | 1782118 |
| Mhc Securities Llc | Holding company | 1 Feb 2016 | 75% - 100% | 47-4611267 |
| Pks Holding Llc | Member | 1 Dec 2017 | 75% - 100% | 14-1788781 |
Indirect Owners
The SEC currently registers 11 indirect owners.
| Name | Entity | Date acquired | Ownership | Employer ID |
|---|---|---|---|---|
| Eli Verschleiser | Member | 1 Aug 2004 | 75% - 100% | 6006914 |
| Llc Winter Investors | Member | 1 Mar 2011 | 75% - 100% | 36-4688613 |
| Jacob Abraham Frydman | Manager | 1 Oct 2011 | Other | 1104535 |
| Llc Summer Investors | Member | 1 Oct 2011 | 50% - 75% | 27-5782560 |
| Llc Eve | Member | 1 Oct 2011 | 50% - 75% | 37-1546523 |
| Hudson York Capital Llc | Member | 1 Dec 2013 | 25% - 50% | 27-3520953 |
| Alexander Chiam Markowits | Manager | 1 Jul 2015 | 75% - 100% | 6561516 |
| Alexander C Markowits | Member | 1 Feb 2016 | 75% - 100% | 6561516 |
| Alexander Chiam Markowits | Member | 1 Feb 2016 | 75% - 100% | 6561516 |
| Llc Wentworth Management Services | Member | 1 Feb 2017 | 75% - 100% | 81-5017119 |
| Llc Mhc Securities | Member | 1 Dec 2017 | 75% - 100% | 47-4611267 |
Based in New York
The principal office where Cl Wealth Management LLC performs its advisory services is located at 200 Vesey Street, New York, NY 10281, which is also the mailing address of the firm. An additional office of the firm is in Madison, WI. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 212-388-6200 or by fax 212-388-6213. The normal business hours are 9.00-5:00 et on Monday - Friday. You can find more information about the New York firm at clsecurities.com.
Registered investment advisers similar to Cl Wealth Management LLC
- The Investment Center
- Covepoint Capital Advisors
- Burkett Financial Services
- Mark J Snyder Financial Services
- Harbor Bridge Capital Management
- Paragon Advisors, L.L.C
- Manske Wealth Management
- Chaswil
- Calvert Street Capital Partners
- Gantzert Investment Company,L.L.C
- Heritage Way Advisors, L.L.C
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