Legg Mason Investment Counsel, LLC (Baltimore)

Legg Mason Investment Counsel, LLC is a large advisory firm based in Baltimore. It manages $7.91 billion of regulatory assets for 2,793 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 43 other states.

Legg Mason Investment Counsel provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and nondiscretionary investment advice and family office services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Legg Mason Investment Counsel: assets under management

The assets under management (AUM) of Legg Mason Investment Counsel, LLC is $7.91 billion. The firm's AUM has grown by 36% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $7.83 billion in discretionary accounts and $76.23 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.82 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.23 million.

Legg Mason Investment Counsel has custody of $3.98 billion in cash and securities for 1,235 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Legg Mason Investment Counsel, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at Legg Mason Investment Counsel, LLC

Deepak Chowdhury has been acting as President since 1 Oct 2004. Michael Patrick Scanlon joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Clifton Merchant	Secretary	1 Oct 2004	Other	3126886
Deepak Chowdhury	President	1 Oct 2004	Other	1770083
Inc. Legg Mason	Sole shareholder	1 Oct 2004	75% - 100%	52-1200960
Charles James Daley	Treasurer	1 Oct 2004	Other	1808224
Nancy Elizabeth Mccolgan	Vice-president	1 Oct 2004	Other	1133009
Gregory Merz	Vice president, chief compliance officer	1 Nov 2004	Other	4518187
Harry Omealia	President and chief executive officer	1 Jan 2005	Other	3178194
Paul Joseph Benziger	Director	1 Jan 2005	Other	1235190
Charles Coleman King	Director	1 Jan 2005	Other	1360425
Timothy J Hynes	Vice president, chief compliance officer	1 Oct 2005	Other	4518187
Timothy Joseph Hynes	Chief compliance officer	1 Oct 2005	Other	4354667
Nancy Elizabeth Mccolgan	Chief operating officer	1 Jan 2006	Other	1133009
Peter Lanning Bain	Director	1 Mar 2006	Other	4221890
N.A. Legg Mason Investment Counsel & Trust Company	Sole member	1 Apr 2006	75% - 100%	110630
Legg Mason Investment Counsel	Sole member	1 Apr 2006	75% - 100%	110630
Jeffrey Allen Nattans	Director	1 Mar 2009	Other	2786221
Patrick A Green	Chief administrative officer	1 May 2009	Other	5796236
Ronald Richard Dewhurst	Director	1 Dec 2010	Other	1590061
Michael Patrick Scanlon	Chief compliance officer	1 Dec 2011	Other	3117555

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
N.A. Legg Mason Investment Counsel & Trust Company	Sole shareholder	1 May 1999	75% - 100%	110630
Inc. Legg Mason	Sole shareholder	1 May 1999	75% - 100%	52-1200960

Based in Baltimore

The principal office where Legg Mason Investment Counsel, LLC performs its advisory services is located at 100 International Drive, Baltimore, MD 21202, which is also the mailing address of the firm. An additional office of the firm is in Philadelphia, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 410-454-2171 or by fax 410-454-3220. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday.