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.
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 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. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
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.
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.
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.