Headquartered in Richmond, Virginia, Cary Street Partners is a fee-only firm offering a variety of services to nearly 6,000 institutional and individual clients. Although the firm's legal name is Cary Street Partners Investment Advisory LLC (CSPIA), it does business as Cary Street Partners.
Cary Street Partners Background
Cary Street Partners was established in 2005 as a Virginia-based limited liability company and is a wholly-owned subsidiary of Cary Street Partners Financial LLC, which was founded in 2002. In May 2025, the firm became indirectly majority-owned by CIVC Fund VII, a private equity fund. The firm has 20 offices across Virginia, Texas, North Carolina, South Carolina, Tennessee, New Jersey and Florida.
Cary Street Partners Client Types and Minimum Account Sizes
Cary Street Partners provides advisory services to individuals, high-net-worth individuals, trusts, estates, charitable organizations, pension or profit-sharing plans, educational institutions, corporations, business entities, government entities and insurance companies.
Cary Street Partners may require a minimum account size depending on the specific program or custodian. Some wrap fee programs, such as those custodied with Wells Fargo Advisors, have non-negotiable household minimums, while other minimums vary by investment platform and are outlined in related disclosure documents.
Services Offered by Cary Street Partners
Cary Street Partners offers discretionary and non-discretionary investment management, financial planning, retirement plan advisory services, and access to alternative investments. The firm also provides wrap fee programs, proprietary investment strategies and access to its affiliated exchange-traded fund (ETF).
Additional services include securities-based lending, margin loans and life insurance strategies. Clients receive customized advice through portfolio construction, asset allocation and risk management, all based on individual goals, financial circumstances and investment objectives.
Cary Street Partners Investment Philosophy
Cary Street Partners follows a tailored investment philosophy centered on diversification, risk management and alignment with each client’s financial goals. The firm builds portfolios using a mix of asset classes, including mutual funds, ETFs, individual stocks and bonds, annuities, and alternative investments. Its strategies incorporate asset allocation, ongoing portfolio oversight and selective use of proprietary solutions, including its affiliated ETF, to pursue long-term growth while managing risk based on each client’s unique circumstances.
Cary Street Partners Fees
Cary Street Partners typically charges an annual advisory fee based on a percentage of assets under management, with rates ranging from 1.50% for smaller accounts to 0.50% or lower for larger accounts, and fees are negotiable. For financial planning, fees may be hourly or fixed, generally between $500 and $25,000, depending on complexity.
Wrap fee programs charge a bundled fee covering advisory and custodial services. Additional fees may apply for certain investment products, lending services, or proprietary strategies, and clients may also be subject to underlying fund expenses and other third-party charges.
Learn more about what advisors typically cost here.
Cary Street Partners Awards and Recognition
Cary Street Partners is the No. 1 firm on SmartAsset's list of the top financial advisors in Virginia. The firm also ranks No. 43 on USA Today's list of the top 500 registered investment advisors (RIAs) in the U.S. in 2025.
What to Watch Out For
Cary Street Partners does not currently list any disclosures on its SEC documents.
Also worth noting: Cary Street Partners has a conflict of interest related to its lending services because the firm and its advisors receive a portion of the interest charged on securities-backed loans and margin loans offered through third-party providers. This creates an incentive for advisors to recommend borrowing against investment accounts, as doing so can increase both the advisory fee (by boosting account value through leveraged assets) and the firm’s compensation from loan-related interest charges.
Opening an Account With Cary Street Partners
You’ll have a few options when looking to open an account with Cary Street Partners. You can contact certain representatives listed on the firm’s website, or you can reach out to the firm’s main office at (804) 340-8100.
All information is accurate as of the writing of this article.
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