Circle Wealth Management, LLC (Summit)

Circle Wealth Management, LLC is a large advisory firm based in Summit. It manages $1.74 billion of regulatory assets for 547 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California, Connecticut, Massachusetts, and 6 other states.

Circle Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Circle Wealth Management: assets under management

The assets under management (AUM) of Circle Wealth Management, LLC is $1.74 billion. The firm's AUM has grown by 753% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $903.19 million in discretionary accounts and $840.1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.11 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.06 million.

Circle Wealth Management has custody of $296.98 million in cash and securities for 64 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-exchange traded securities the most. They account for 29% of the total AUM. The second-largest asset type is investment and business development companies, which make up 24% of the firm’s portfolio. Investments in exchange traded securities form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Circle Wealth Management, LLC for their services and products based on a percentage of assets under management 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 Circle Wealth Management serves?

The only and largest group of clients of Circle Wealth Management is high net worth individuals with 72 clients and $1.74 billion of assets under management. Among the 10 most similar advisory firms, Circle Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.74 billion for 72 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Circle Wealth Management doesn't advise any private funds.

Careers at Circle Wealth Management, LLC

The company employs 15 people that are either part- or full-time employees. 47 percent of the employees work as investment advisers or researchers. 6 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Mlks	Member	1 Dec 2006	50% - 75%	20-8168667
Maria Lourdes Kattan Chrin	Ceo/managing partner	1 Dec 2006	Other	2029554
Maria Lourdes Chrin	Chief compliance officer	1 Dec 2006	Other	2029554
Kristen Anne Breault	Member	1 Jan 2007	Other	2766931
William Walton Ribbecke	Member	1 Jan 2007	Other	3093314
Kristen Anne Breault	Chief compliance officer	1 Dec 2007	Other	2766931
Afk Ii Llc	Member	1 Jan 2011	Other	20-8168874
John Robert Chrin	Member	1 Feb 2012	Other	2673970
Lindsay Ann Cherashore	Vice president	1 Sep 2013	Other	6779672
Lauren M Shenloogian	Vice president	1 Jan 2014	Other	5478759
Daniel Michael Flath	Vice president	1 Jun 2015	Other	6779657

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Ann Frances Kaplan	Member	1 Jan 2011	Other	848297

Based in Summit

The principal office where Circle Wealth Management, LLC performs its advisory services is located at 47 Maple Street, Summit, NJ 07901, 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 908 206 1306 or by fax 908 277 3577. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday.