Cic Wealth, LLC (Rockville)

Name: Cic Wealth, LLC
Address: 1101 Wootton Parkway, Rockville, MD, 20852
Telephone: 301.816.4683

Cic Wealth, LLC is a large advisory firm based in Rockville. It manages $402.22 million of regulatory assets for 1,341 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Arizona, California, Connecticut, and 13 other states.

Cic Wealth provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cic Wealth: assets under management

The assets under management (AUM) of Cic Wealth, LLC is $402.22 million. The firm's AUM has grown by 17% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $402.08 million in discretionary accounts and $142.41 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $300.96 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $28.48 thousand.

Cic Wealth has custody of $16.9 million in cash and securities for 20 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 39% of the total AUM. The second-largest asset type is investment and business development companies, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cic Wealth, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael Brett Fein serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Michael Brett Fein is high net worth individuals with 111 clients and $280.4 million of assets under management. Among the 11 most similar advisory firms, Cic Wealth has the 6th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $401.7 million for 556 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.

Cic Wealth doesn't advise any private funds.

Careers at Cic Wealth, LLC

The company employs 13 people that are either part- or full-time employees. 85 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Michael Brett Fein has been acting as President since 1 Nov 2017. Andrew Brian Goodman has served as the Chief Investment Officer since 1 Nov 2017. Frank Chris Cappadora joined the executive team most recently as the Managing Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Cic Wealth Holdings	Managing member	1 Oct 2017	75% - 100%	82-2878544
Frank Chris Cappadora	Managing partner	1 Nov 2017	Other	2482297
Michael Brett Fein	President	1 Nov 2017	Other	4561594
Ryan Bruce Wibberley	Chief compliance officer and ceo	1 Nov 2017	Other	2370778
Andrew Brian Goodman	Chief investment officer	1 Nov 2017	Other	2768789

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Michael Brett Fein	Owner	1 Dec 2003	75% - 100%	4561594
Ryan Bruce Wibberley	Owner	1 Oct 2008	75% - 100%	2370778
Inc. Cic Wealth Management Group	Owner	1 Nov 2017	25% - 50%	26-2882834
Inc. Michael B. Fein	Owner	1 Nov 2017	25% - 50%	83-0344720

Based in Rockville

The principal office where Cic Wealth, LLC performs its advisory services is located at 1101 Wootton Parkway, Rockville, MD 20852, which is also the mailing address of the firm. An additional office of the firm is in Owings Mills, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 301.816.4683. The normal business hours are 8:30am-5:00pm on Monday - Friday. You can find more information about the New York firm at cicwealth.com.