Citrin Cooperman Wealth Management, LP (New York)

Citrin Cooperman Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Citrin Cooperman Wealth Management: assets under management

The assets under management (AUM) of Citrin Cooperman Wealth Management, LP is $1.24 billion. The firm's AUM has grown by 1861% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $450.79 million in discretionary accounts and $785.03 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.95 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.9 million.

Citrin Cooperman Wealth Management has custody of $250.8 million in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in state and local bonds the most. They account for 43% of the total AUM. The second-largest asset type is exchange traded securities, which make up 31% of the firm’s portfolio. Investments in other assets form 17% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Citrin Cooperman Wealth Management, LP for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Alan Harry Mandeloff serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Alan Harry Mandeloff is high net worth individuals with 29 clients and $1.03 billion of assets under management. Among the 11 most similar advisory firms, Citrin Cooperman Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.24 billion for 60 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Citrin Cooperman Wealth Management doesn't advise any private funds.

Careers at Citrin Cooperman Wealth Management, LP

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No 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.

Alan Harry Mandeloff has been acting as President since 1 May 2008. Michael Dooley joined the executive team most recently as the Chief Compliance Officer, Limited Partner.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 5 indirect owners.

Based in New York

The principal office where Citrin Cooperman Wealth Management, LP performs its advisory services is located at 529 Fifth Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in White Plains, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-697-1000 or by fax 347.226.7591. 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 ccwmlp.com.

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