Cl Wealth Management LLC (New York)

Name: Cl Wealth Management LLC
Address: 200 Vesey Street, New York, NY, 10281
Telephone: 212-388-6200

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. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. 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.