Cri Securities, LLC (St.Paul)

Name: Cri Securities, LLC
Address: 400 Robert Street North, St.Paul, MN, 55101
Telephone: 651-665-5609

Cri Securities, LLC is a large advisory firm based in St.Paul. It manages $1.13 billion of regulatory assets for 4,152 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Arizona, California, Colorado, and 17 other states.

Cri Securities provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cri Securities: assets under management

The assets under management (AUM) of Cri Securities, LLC is $1.13 billion. The firm's AUM has grown by 198% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $495.97 million in discretionary accounts and $635.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $257.51 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $285.44 thousand.

Cri Securities has custody of $201.47 million in cash and securities for 564 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio. Investments in exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cri Securities, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Scott Howard Richards serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Scott Howard Richards is individuals with 4,328 clients and $604.37 million of assets under management. Among the 8 most similar advisory firms, Cri Securities has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.13 billion for 5,206 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.

Cri Securities doesn't advise any private funds.

Careers at Cri Securities, LLC

The company employs 265 people that are either part- or full-time employees. 68 percent of the employees work as investment advisers or researchers. 190 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.

Scott Howard Richards has been acting as President since 1 Sep 2000. Kimberly Kay Carpenter joined the executive team most recently as the Senior Vice President & Chief Compliance Officer & Anti Money Laundering Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
George Ignatius Connolly	President, chief executive officer & member of board of governors	1 Sep 1999	Other	1457599
David Vasos	Sr vice president, member of the board of governors	1 Sep 1999	Other	1060243
David Nmn Vasos	Sr vice president, member of the board of governors	1 Sep 1999	Other	1060243
Carol Marie Arel	Assistant secretary	1 Sep 1999	Other	3274516
Eric Jon Bentley	Assistant secretary	1 Sep 1999	Other	4061997
Phillip Croce Richards	Director, chairman of the board	1 Jun 2000	50% - 75%	375618
Scott Howard Richards	Director	1 Sep 2000	Other	1907215
Thomas Patrick Burns	Director	1 Oct 2002	Other	1028109
Loyall Edward Wilson	Sr. vice president & chief compliance officer, anti-money laundering compliance officer & secretary	1 Dec 2002	Other	1368670
Kimberly Kay Carpenter	Assistant secretary	1 Jul 2003	Other	4266541
Enterprise Holding Corporation	Shareholder	1 Oct 2003	50% - 75%	41-1658115
Warren John Zaccaro	Director	1 May 2005	Other	xxx-xx-xxxx
Lynda Sutherland Czarnetzki	Vice president & treasurer	1 Jun 2005	Other	1571494
Scott Carl Thorson	Vice president	1 Sep 2006	Other	1651412
Richard Arthur Diehl	Assistant secretary	1 Sep 2006	Other	1613960
Janet Marie Hill	Assistant secretary	1 Oct 2007	Other	2667808
Jay R Brown	Assistant secretary	1 Oct 2007	Other	4542374
Suzanne Marie Chochrek	Vice president	1 Mar 2008	Other	1520107
Dean Floyd Czarnetzki	Assistant secretary	1 Mar 2008	Other	5631678
Edward George Deutschlander	Member of board of governors	1 Apr 2009	Other	2388533
Anthony Joseph Martins	Member of board of governors	1 Apr 2009	Other	2137983
Scott Carl Thorson	Vice president & treasurer	1 Oct 2009	Other	1651412
Daniel Abraham Henken	Assistant secretary	1 Oct 2009	Other	4593222
Phillip Croce Richards	Chairman of the board of governors	1 Mar 2010	Other	375618
Phillip C. Richards And Susan B. Richards Joint Living Trust	Shareholder	1 Mar 2010	50% - 75%	17-4308631
Trustee Of The Phillip C. Richards And Susan B. Richards Joint Living Trust Declaration Phillip C. Richards	Shareholder	1 Mar 2010	50% - 75%	17-4308631
Phillip C. Richards And Susan B. Richards Joint Living Trust Declaration	Shareholder	1 Mar 2010	50% - 75%	17-4308631
Eric Jon Bentley	Member of board of governors	1 Mar 2011	Other	4061997
Crystal K Opse	Assistant secretary	1 Mar 2011	Other	5903730
Peter Gordon Berlute	Vice president, treasurer (chief financial officer) & finop	1 Feb 2014	Other	6175204
Kjirsten Gareth Zellmer	Vice president	1 Feb 2014	Other	4356568
Minnesota Life Insurance Company	Shareholder	1 Jan 2017	50% - 75%	41-0417830
Kimberly Kay Carpenter	Senior vice president & chief compliance officer & anti-money laundering compliance officer	1 Jun 2017	Other	4266541
Keri Sue O'brien	Secretary	1 Jun 2017	Other	6821352

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Minnesota Life Insurance Company	Shareholder	1 Oct 1998	75% - 100%	41-0417830
Inc. Securian Financial Group	Shareholder	1 Oct 1998	75% - 100%	41-1919752
Securian Holding Company	Shareholder	1 Oct 1998	75% - 100%	41-1919753
Inc. Minnesota Mutual Companies	Shareholder	1 Oct 1998	75% - 100%	41-1919754

Based in St.Paul

The principal office where Cri Securities, LLC performs its advisory services is located at 400 Robert Street North, St.Paul, MN 55101, which is also the mailing address of the firm. An additional office of the firm is in St Paul, MN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 651-665-5609 or by fax 651-665-7367. The normal business hours are 8:00 a.m. to 4:45 p.m. on Monday - Friday. You can find more information about the New York firm at crisecurities.com.