Mycio Wealth Partners, LLC is a large advisory firm based in Philadelphia. It manages $7.38 billion of regulatory assets for 6,931 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Arizona, California, Connecticut, and 13 other states.
Mycio Wealth Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Mycio Wealth Partners, LLC is $7.38 billion. The firm's AUM has grown by 390% since the beginning of its operation, and $112.3 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Mycio Wealth Partners, LLC for their services and products based on a percentage of assets under management, hourly charges, 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.
The firm provides services to charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Mycio Wealth Partners is high net worth individuals with 712 clients and $6.95 billion of assets under management. Among the 10 most similar advisory firms, Mycio Wealth Partners has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $7.38 billion for 732 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.
Mycio Wealth Partners also advises several private funds. Namely, five other private funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.
The company employs 45 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 31 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Mycio Wealth Partners, LLC performs its advisory services is located at 2929 Walnut Street, Suite 1200, Philadelphia, PA 19104 5172, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 267-295-2280 or by fax 267-295-2279. The normal business hours are 8:00 am to 7:00 pm on Monday - Friday. You can find more information about the New York firm at myciowp.com.