myCIO Wealth Partners is a Philadelphia-based financial advisory firm with billions in client assets under management (AUM). This fee-only firm currently holds a spot on SmartAsset's list of the top financial advisor firms in Philadelphia and Pennsylvania.
myCIO Wealth Partners works almost exclusively with clients who are high-net-worth individuals. In fact, its client base includes current and former chairmen, CEOs and presidents of Fortune 500 companies.
myCIO Wealth Partners Background
Formerly a part of Ernst & Young, myCIO Wealth Partners was founded in 2005 when the firm decided to exit the investment management business. Many of the firm's advisors are also former PricewaterhouseCoopers employees who came over after that firm also left the investment advisory industry.
Today, the firm is operated by partners James Biles, David Lees and Paul Bracaglia. Affiliated Managers Group, Inc., a publicly traded asset management company, acquired an equity interest in the firm in 2015.
The advisory team at myCIO holds a number of certifications, such as that chartered financial analyst (CFA), certified financial planner (CFP), accredited investment fiduciary (AIF), chartered alternative investment analyst (CAIA), certified public accountant (CPA) designations and more.
myCIO Wealth Partners Client Types and Minimum Account Sizes
myCIO Wealth Partners currently works with high-net-worth individuals, charities and businesses. Its services are also available to trusts, estates and pension and profit-sharing plans.
The firm generally requires clients to have a minimum of $1 million in investable assets. However, the firm may choose to waive this minimum if it sees fit.
Services Offered by myCIO Wealth Partners
myCIO Wealth Partners provides its clients with investment advisory services, financial planning and financial consulting services. It may also invest in a number of private investment funds:
- REF Partners, LP
- RUS Partners, LP
- BRP II, LP
- RSF Partners, LP
- RSPAC Partners, LP
Together, the above is known as the firm's affiliated funds. The firm may also, at a client's request, provide tax consultation services to clients as well as financial planning and consulting, which typically includes advice on investments estate planning and insurance planning.
myCIO Wealth Partners Investment Philosophy
myCIO Wealth Partners works with clients to determine their financial and investment goals. In turn, it crafts an investment strategy for each client based on that information. After ascertaining the client's tolerance for risk, desired investments, time horizon, overall financial situation and investment restrictions, advisors allocate their assets in a way that fits with their long-term goals.
Advisors will monitor client portfolios on an ongoing basis, looking to constantly keep portfolios balanced according to their stated objectives. The firm uses fundamental and technical analysis to help inform its investment decisions. Advisors may also take advantage of options, short sales and margin transactions.
myCIO Wealth Partners Fees
myCIO Wealth Partners charges clients an AUM-based advisory fee. Investment advisory services typically incur an annual fee of up to 1.00%, though fee rates may be negotiated at the discretion of the firm.
| myCIO Wealth Partners Fee Schedule | |
| Portfolio Value | Annual Fee |
| First $1MM | 1.00% |
| Next $2MM | 0.75% |
| Next $2MM | 0.50% |
| Next $5MM | 0.35% |
| Next $5MM | 0.25% |
| Additional assets | Negotiable |
Here's a breakdown of what you can expect to pay as a client of myCIO Wealth Partners:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at myCIO Wealth Partners* | |
| Your Assets | myCIO Wealth Partners Maximum Fee Amount |
| $500K | $5,000 |
| $1MM | $10,000 |
| $5MM | $35,000 |
| $10MM | $52,500 |
Clients can request investment management or financial planning services be carried out on a fixed-fee basis. This fee typically ranges from $10,000 to $300,000. Financial planning services may also be charged an hourly fee of anywhere from $100 to $600 per hour.
What to Watch Out For
myCIO Wealth Partners has no legal or regulatory disclosures present on its SEC-filed Form ADV.
Opening an Account With myCIO Wealth Partners
If you're interested in becoming a client of myCIO Wealth Partners, visit the firm's website and submit a contact form so a representative can reach out to you. You can also call the firm at (267) 295-2280 if you prefer working over the phone.
All information is accurate as of the writing of this article.
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