Clarfeld Financial Advisors, LLC (Tarrytown)

Name: Clarfeld Financial Advisors, LLC
Address: 520 White Plains Road, Tarrytown, NY, 10591
Telephone: 914-846-0100

Clarfeld Financial Advisors, LLC is a large advisory firm based in Tarrytown. It manages $6.45 billion of regulatory assets for 5,144 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Arizona, California, Colorado, and 23 other states.

Clarfeld Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Clarfeld Financial Advisors: assets under management

The assets under management (AUM) of Clarfeld Financial Advisors, LLC is $6.45 billion. The firm's AUM has grown by 56% since the beginning of its operation, and $389.63 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.14 billion in discretionary accounts and $4.32 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $997.21 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.44 million.

Clarfeld Financial Advisors has custody of $164.82 million in cash and securities for 148 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 45% of the total AUM. The second-largest asset type is exchange traded securities, which make up 21% of the firm’s portfolio. Investments in pooled investment vehicles form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Clarfeld Financial Advisors, 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 Clarfeld Financial Advisors serves?

The firm provides services to charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Clarfeld Financial Advisors is high net worth individuals with 635 clients and $5.99 billion of assets under management. Among the 12 most similar advisory firms, Clarfeld Financial Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $6.45 billion for 658 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 6% of the firm’s clients are foreign persons or businesses.

Clarfeld Financial Advisors doesn't advise any private funds.

Careers at Clarfeld Financial Advisors, LLC

The company employs 80 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert A. Clarfeld	Chairman,president,chief executive officer	1 Feb 1983	Other	4351856
Paul J Wrobleski	Vice chairman, executive vice president	1 Feb 1983	Other	4355708
Robert Alan Clarfeld	Chairman,president,chief executive officer	1 Feb 1983	Other	4351856
Paul James Wrobleski	Vice chairman, executive vice president	1 Feb 1983	Other	4355708
Robert A Varriano	Vice president, director of financial services	1 Mar 1999	Other	4355712
Donna M Cuiffo	Vice president,chief financial officer	1 Mar 1999	Other	4355727
Robert Anthony Varriano	Vice president, director of financial services	1 Mar 1999	Other	4355712
Donna Marie Cuiffo	Vice president,chief financial officer	1 Mar 1999	Other	4355727
Richard T Suarez	Vice president, director of investment services	1 Sep 2000	Other	4355722
Joy M Soodik	Secretary/treasurer & chief compliance officer	1 Sep 2000	Other	4355730
Richard Tino Suarez	Vice president, director of investment services	1 Sep 2000	Other	4355722
Joy Melanie Soodik	Secretary/treasurer & chief compliance officer	1 Sep 2000	Other	4355730
Anthony L Schembri	Director of investment operations	1 Jan 2006	Other	5104406
Anthony Lorenzo Schembri	Director of investment operations	1 Jan 2006	Other	5104406
David S Price	Vice president	1 Dec 2010	Other	3016332
Frank Armand Sisti	Managing director and financial advisor	1 Dec 2010	Other	4631576
Frank A. Sisti	Managing director and financial advisor	1 Dec 2010	Other	4631576
David Price	Vice president	1 Dec 2010	Other	3016332
Jose A Reynoso	Vice president, director of advanced tax & estate planning	1 Jun 2011	Other	2746398
Jose Alberto Reynoso	Vice president, director of advanced tax & estate planning	1 Jun 2011	Other	2746398
Cfa Empire Inc	Member	1 Aug 2013	75% - 100%	13-3147357
Llc Empire Acquisition (Wp)	Member	1 Aug 2013	Other	45-1211980
Llc Amg Empire Acquisition	Member	1 Aug 2013	Other	45-1211980
N.A. Citizens Bank	Direct ownership	1 Jan 2019	75% - 100%	20-2635739

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Citizens Financial Group	Direct shareholder	1 May 2005	75% - 100%	05-0412693
Inc. Affiliated Managers Group	Partner	1 Mar 2011	75% - 100%	04-3218510
Amg Wealth Partners Lp	Member	1 Jul 2013	75% - 100%	45-1211980

Based in Tarrytown

The principal office where Clarfeld Financial Advisors, LLC performs its advisory services is located at 520 White Plains Road, Tarrytown, NY 10591, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 914-846-0100 or by fax 914-846-0199. The normal business hours are 8:30am-5:30pm on Monday - Friday. You can find more information about the New York firm at clarfeld.com.