Geode Capital Management, LLC

CRD#115504
Investment Advisor Firm

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Overview

Geode Capital Management, LLC operates as a financial advisor company headquartered in Boston, Massachusetts. The company manages $554.4 billion in total assets across 844 customer accounts, placing it among the biggest investment advisory firms in the country by assets under management (AUM). The firm has a large group of 119 employees, fifty-five of whom are financial advisors. Geode Capital Management, LLC is not a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer firm to do so. Securities are defined as tradable financial investments such as bonds, options and equities.

Geode Capital Management, LLC oversees all of its client assets on a discretionary basis. Discretionary management means that buy and sell choices are made by a portfolio manager without requiring the client's consent. The company's average account size is $656.9 million. An average advisor at Geode Capital Management, LLC administers around 15 client accounts, placing it among the more personalized firms in the country.

Geode Capital Management, LLC's main office is located at 100 Summer Street, Boston, Massachusetts 2110. It is legally permitted to provide services to clients in the state of Massachusetts.

Assets Under Management

$554.4 billion

Number of Advisors

55

Disclosures

No

Office Location

100 Summer Street
Boston, MA 02110

Geode Capital Management, LLC by the Numbers

Total Assets Under Management

$554.4 billion

National Average: $3.7 billion
Total Number of Employees

119

National Average: 29
Total Number of Accounts

844

National Average: 2,073
Average Account Size

$656.9 million

National Average: $1.8 million

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Fee Structure

Financial advisory fees typically are based on the financial services offered. Fee types charged by the firm can consist of the following fee types: asset-based or fixed. Geode Capital Management, LLC participates in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

Available

  • Offered by 74% 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 40% 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 35% of firms that offer this fee type

    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.

  • Find one of the 2% 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 17% of firms that offer this fee type

    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.

  • Find one of the 1% 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 12% 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 firm manages money for a broad range of clients. The company provides services to retail investors, high net worth investors, investment companies, pooled investment vehicles and corporations. Out of its 844 accounts, Geode Capital Management, LLC's largest client type by number of accounts is retail investors, though it also manages money for 92 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 deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 9% of its clients are non-U.S. persons.

  • High-Net-Worth Individuals* - 11.11%
  • Other Individuals - 70.65%
  • Corporations - 18.24%
  • Charitable Organizations - 0%

* 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

Geode Capital Management, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA