Mycio Wealth Partners, LLC (Philadelphia)

Name: Mycio Wealth Partners, LLC
Address: 2929 Walnut Street, Suite 1200, Philadelphia, PA, 19104 5172
Telephone: 267-295-2280

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.

Mycio Wealth Partners: assets under management

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 firm manages $4 billion in discretionary accounts and $3.37 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $800.68 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.75 million.

Mycio Wealth Partners has custody of $2.96 billion in cash and securities for 343 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 27% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 27% of the firm’s portfolio. Investments in exchange traded securities form 24% of the total invested assets.

Fees & Commissions

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. 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 Mycio Wealth Partners serves?

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.

Careers at Mycio Wealth Partners, LLC

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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Joseph Biles	Member; chief compliance officer (1/2007)	1 Mar 2005	Other	2402169
David Edmund Lees	Managing member	1 Mar 2005	50% - 75%	2148562
Christopher Francis Yannella	Chief compliance officer	1 Mar 2006	Other	4539341
Paul Joseph Bracaglia	Member	1 Sep 2007	Other	1677889
Llc Union Acquisition	Manager member	1 Oct 2015	50% - 75%	35-2535202

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Amg Wp Lp Holdings	Limited partner	1 Mar 2011	75% - 100%	46-1924266
Inc. Affiliated Manager Group	Series a member and manager	1 Mar 2011	75% - 100%	04-3218510
Inc. Affiliated Managers Group	General partner	1 Mar 2011	75% - 100%	04-3218510
Inc. Affiliated Managers Group	Sole shareholder	1 Dec 2011	75% - 100%	04-3218510
Amg Wp Gp Holdings Corp.	General partner	1 Dec 2011	75% - 100%	46-0984304
Lp Amg Wealth Partners	Sole member	1 Jun 2015	75% - 100%	45-1211980

Based in Philadelphia

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.