Fiam LLC (Smithfield)

Name: Fiam LLC
Address: 900 Salem Street, Smithfield, RI, 02917
Telephone: 617-563-7000

Fiam LLC is a large advisory firm based in Smithfield. It manages $84.57 billion of regulatory assets for 255 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Alabama, Alaska, California, and 28 other states.

Fiam provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and research for fidelity companies. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Fiam: assets under management

The assets under management (AUM) of Fiam LLC is $84.57 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 41% since the beginning of its operation, and $14.4 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $84.57 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $331.63 million each.

Investments

The firm invests in exchange traded securities the most. They account for 23% of the total AUM. The second-largest asset type is government bonds, which make up 15% of the firm’s portfolio. Investments in pooled investment vehicles form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fiam LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Jeffrey Paul Lagarce serves?

The firm provides services to investment companies, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Jeffrey Paul Lagarce is investment companies with 33 clients and $41.5 billion of assets under management. Among the 7 most similar advisory firms, Fiam has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $77.86 billion for 229 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 23% of the firm’s clients are foreign persons or businesses.

Fiam also advises several private funds. Namely, eighteen other private funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $5,000,000.

Careers at Fiam LLC

The company employs 450 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Jeffrey Paul Lagarce has been acting as President since 1 Jan 2015. Harley Jay Lank joined the executive team most recently as the Head Of High Income.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Fiam Holdings Corp.	Member	1 Oct 2004	75% - 100%	20-1728184
Fiam Holdings Llc	Member	1 Oct 2004	75% - 100%	20-1728184
Derek Lane Young	Vice chairman	1 Aug 2011	Other	5538963
Derek L Young	Vice chairman	1 Aug 2011	Other	5538963
Douglas Ralph Moore	Director, chief financial officer	1 Oct 2011	Other	5990375
Wendy Sian Burgess	Canada compliance officer	1 Apr 2012	Other	6054880
Linda Jean Wondrack	Chief compliance officer	1 Apr 2012	Other	1589187
Michael Howard Whitaker	Svp, compliance officer	1 Nov 2012	Other	4779927
Pam Ruddick Holding	Chief investment officer, director	1 Jan 2014	Other	1912576
Nancy Delia Prior	President fixed income, vice chairman fiam	1 Mar 2014	Other	6044826
Charles S (Mi Only) Morrison	President of asset management, vice chairman	1 Mar 2014	Other	4650274
Nancy D. Prior	President fixed income, vice chairman fiam	1 Mar 2014	Other	6044826
Jean Marie Raymond	Chief financial officer of asset management	1 May 2014	Other	4148581
William Eric Dailey	Chief operating officer of asset management	1 May 2014	Other	5226182
Wilson B Owens	Director, chief operating officer	1 Jul 2014	Other	6383298
Jeffrey Paul Lagarce	President	1 Jan 2015	Other	1014406
Casey Moore Condron	Head of sales & relationship management, director	1 Feb 2015	Other	3092905
Wilson Brechner Owens	Investment operations officer	1 Feb 2016	Other	6383298
Carlos Antonio Pisierra	Director, chief financial officer	1 Feb 2016	Other	1939755
Thomas (Nmn) Hense	Vice chairman	1 Feb 2016	Other	5638986
Wilson B Owens	Investment operations officer	1 Feb 2016	Other	6383298
Scott Couto	Director, evp, head of distribution	1 Feb 2016	Other	2178859
Scott Edward Couto	President, director	1 Apr 2016	Other	2178859
John Bernard Mcginty Jr	Compliance officer	1 Aug 2016	Other	5560420
Judy Anne Marlinski	President, director	1 Jul 2017	Other	6751775
Harris Gregg Komishane	Chief financial officer of asset management	1 Jul 2017	Other	5225050
Joseph Arthur Nedder	Chief operating officer of asset management	1 Jul 2017	Other	6142994
Joseph Nedder	Chief operating officer of asset management	1 Jul 2017	Other	6142994
Timothy Michael Cohen	Co-head equity	1 Mar 2018	Other	6236031
Matthew (Nmn) Depiero	Chief financial officer, director	1 May 2018	Other	6947009
Kevin Matthew Meagher	Chief compliance officer	1 Jul 2018	Other	7002688
James Shelton Carroll	Head of institutional portfolio managers, director	1 Jul 2018	Other	5149207
Christopher John Rimmer	Head of asset management finance	1 Sep 2018	Other	4770358
Vadim Nmn Zlotnikov	President global asset allocation	1 Dec 2018	Other	2362840
Harley Jay Lank	Head of high income	1 Aug 2019	Other	4451403

Indirect Owners

The SEC currently registers 12 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Edward C (Mi Only) Johnson	Director	1 Oct 1972	Other	1367269
James C (Mi Only) Curvey	Director	1 Feb 1990	Other	2293087
James Charles Curvey	Elected manager	1 Feb 1990	Other	2293087
Abigail Pierrepont Johnson	Director	1 May 1994	Other	4340399
Fmr Llc	Shareholder	1 Oct 2004	75% - 100%	04-2507163
Edward C (Mi Only) Johnson Iv	Director	1 Apr 2006	Other	5305256
John J (Mi Only) Remondi	Director	1 Apr 2006	Other	4348172
Edward Crosby Johnson Iv	Elected manager	1 Apr 2006	Other	5305256
John Joseph Remondi	Elected manager	1 Apr 2006	Other	4348172
Michael E (Mi Only) Wilens	Director	1 Oct 2014	Other	5653418
Gerard John Mcgraw	Director	1 Oct 2014	Other	4713963
Michael Engber Wilens	Elected manager	1 Oct 2014	Other	5653418

Based in Smithfield

The principal office where Fiam LLC performs its advisory services is located at 900 Salem Street, Smithfield, RI 02917, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-563-7000 or by fax 603-864-2311. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at fiam.fidelity.com.