Cerity Partners LLC

CRD#151559
Investment Advisor Firm

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Learn more about Cerity Partners LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    Cerity Partners LLC is located at 99 Park Avenue, New York, NY. The firm employs 862 financial advisors. Cerity Partners LLC is not a registered broker-dealer.

    The firm manages $122.8 billion in assets under management across 19,810 accounts, with 19,185 discretionary accounts and 625 non-discretionary accounts. In the past year, 8,000 clients received financial planning services. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers, and educational seminars. Cerity Partners LLC serves retail investors, high net worth investors, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, and corporations. The largest client type by accounts is high net worth investors. The firm has 11,058 high net worth clients. The fee structure includes asset-based, hourly, fixed, and performance-based fees. Financial industry affiliations include broker-dealer or securities dealer, trust company, accountant or accounting firm, insurance company or agency, pension consultant, and commodity pool advisor.

    Cerity Partners LLC is registered in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming, Missouri, Washington, Texas, and New Hampshire.

    Assets Under Management

    $122.8 billion

    Number of Advisors

    862

    Disclosures

    No

    Office Location

    99 Park Avenue
    New York, NY 10016

    Cerity Partners LLC by the Numbers

    Total Assets Under Management

    $122.8 billion

    National Average: $8.6 billion
    Total Number of Employees

    1,166

    National Average: 64
    Total Number of Accounts

    19,810

    National Average: 375,227
    Average Account Size

    $6.2 million

    National Average: $23.0 thousand
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    Products and Services

    Financial services that Cerity Partners LLC offers include financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers, and educational seminars. In the last financial year, Cerity Partners LLC provided 8000 of its accounts with financial planning servcies. The company does sell products or offer services apart from investment advice to its clients. The company is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, trust company, accountant or accounting firm, insurance company or agency, pension consultant, and commodity pool advisor.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Financial management fees largely depend on which services the firm provides the client. Fees billed by Cerity Partners LLC can consist of some combination of the following fee types: asset-based, hourly, fixed, and performance-based. The company does participate in a wrap fee program, in which the firm offers a bundle of services for a single fee.Cerity Partners LLC can withdraw its fees directly from client accounts.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 26% of firms

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The company manages money for a number of different investors. Cerity Partners LLC provides services to retail investors, high net worth investors, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, and corporations. Out of its 19,810 clients, Cerity Partners LLC's biggest client type by number of accounts is high net worth investors, although it also serves 11,058 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of more than $1.50 million or who is a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 55.82%
    • Other Individuals - 39.72%
    • Corporations - 3.56%
    • Charitable Organizations - 0.9%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Cerity Partners LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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