Cary Street Partners
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Overview
Cary Street Partners operates as an advisory firm that has its headquarters in Richmond, Virginia. The firm has $5.5 billion in total assets throughout 11,387 customer accounts, making it one of the largest firms in the nation by assets under management (AUM). The firm has a large team, including 64 financial advisors. Cary Street Partners is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are tradable fiscal investments like options, stocks and bonds.
Cary Street Partners manages the majority of the firm's accounts on a discretionary basis. Discretionary management means that transaction choices are made by a portfolio manager without needing to seek the client's approval. Cary Street Partners also oversees 5,196 non-discretionary accounts totaling $1.9 billion in AUM. The firm manages roughly $484,102 in assets for each account. The typical financial advisor at Cary Street Partners administers about 178 client accounts.
Cary Street Partners's headquarters is located at 901 East Byrd Street, Richmond, Virginia 23219. The company is legally registered to serve investors throughout 51 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Cary Street Partners by the Numbers

$5.5 billion

134

11,387

$484.1 thousand
Products and Services
Cary Street Partners offers a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the last financial year, the company provided financial planning services to 251-500 of its customers. The firm does not sell products or offer services other than investment advisory services to its investment advisory clients. The firm is also affiliated with one or more other service providers in the financial services industry, including with a broker-dealer or securities dealer, accountant or accounting firm and insurance company or agency.
Core Advisor Services
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Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
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Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Find a firm that offers this service
Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Offered by 6% of firms
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees charged by financial advisors usually vary depending on which services the firm provides the client. Fee types charged by the company can be comprised of the following fee types: asset-based, hourly, fixed or commission-based. Cary Street Partners participates in a wrap fee program, in which the company offers a service bundle for a single fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 1% of firms
Commissions
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The firm works with a number of different customers. The company provides services to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, insurance companies and corporations. Out of its 11,387 accounts, Cary Street Partners's largest client group by number of accounts is retail investors, though it also serves 1,479 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM 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 1% of the company's customers are non-U.S. persons.
- High-Net-Worth Individuals* - 30.89%
- Other Individuals - 64.01%
- Corporations - 4.05%
- Charitable Organizations - 1.04%
* 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
Cary Street Partners does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Cary Street Partners
Glen Allen, VA
Richmond, VA
Arlington, VA
Roanoke, VA
Fredericksburg, VA
Glen Allen, VA
Charlottesville, VA
San Antonio, TX
Roanoke, VA
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