Citi Private Advisory, LLC (New York)

Citi Private Advisory, LLC is a large advisory firm based in New York. It manages $11.57 billion of regulatory assets for 145 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of New York and Texas.

Citi Private Advisory provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Citi Private Advisory: assets under management

The assets under management (AUM) of Citi Private Advisory, LLC is $11.57 billion. The firm's AUM has grown by 299% since the beginning of its operation, and $7.86 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $11.52 billion in discretionary accounts and $49.71 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $82.84 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $8.28 million.

Citi Private Advisory has custody of $10.88 billion in cash and securities for 107 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 96% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Citi Private Advisory, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 Adam Lavis serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Adam Lavis is pooled investment vehicles with 122 clients and $11.28 billion of assets under management. Among the 11 most similar advisory firms, Citi Private Advisory has the 5th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $11.57 billion for 160 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 56% of the firm’s clients are foreign persons or businesses.

Citi Private Advisory also advises several private funds. Namely, one hundred twenty two other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $500,000.

Careers at Citi Private Advisory, LLC

The company employs 784 people that are either part- or full-time employees. 4 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There are 14 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.

Adam Lavis has been acting as President since 1 Mar 2017. Daniel Glenn Odonnell joined the executive team most recently as the Ceo.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Trudi Gilligan	Chief legal officer, manager	1 Apr 2010	Other	5788574
Inc Citicorp Investment Partners	100% equity owner	1 Apr 2010	75% - 100%	13-3765667
Citigroup Investment Partners	Member	1 Apr 2010	75% - 100%	13-3765667
David Rabb Bailin	Chief executive officer, manager	1 Apr 2010	Other	2005301
Larry Steven Millman	Chief financial officer, manager	1 Apr 2010	Other	4617089
William Thomas Young	Chief compliance officer	1 Apr 2010	Other	2338451
Victoria C A H Rock	Chief operating officer	1 Apr 2010	Other	5790071
Francis X Frecentese	Chief executive officer, manager	1 Oct 2010	Other	4444445
David Marshall Schnur	Chief operating officer	1 Jun 2011	Other	2759555
Jeffrey Andrew Lang	Chief compliance officer	1 Sep 2012	Other	2459916
Eric Andrew Siegel	Chief executive officer, manager	1 Dec 2012	Other	4278777
Scott Perry Spilkevitz	Chief compliance officer	1 Jun 2013	Other	2104925
Adam Lavis	Chief financial officer, manager	1 Dec 2013	Other	6158460
Scott Perry Spilkevitz	Cco	1 May 2016	Other	2104925
Ramsey Saliba	Cfo/finop	1 May 2016	Other	5358958
Daniel Deontanon	Ceo	1 Jul 2016	Other	2653594
Trudi Gilligan	Chief legal officer	1 Mar 2017	Other	5788574
Adam Lavis	Director	1 Mar 2017	Other	6158460
Eric Andrew Siegel	Director	1 Mar 2017	Other	4278777
Daniel Glenn Odonnell	Director	1 May 2017	Other	3160132
Carlos Javier Gonzalez	Director	1 May 2017	Other	4294205
Jonathan Leach	Director	1 May 2017	Other	4317415
Daniel Deontanon	Director	1 May 2017	Other	2653594
Victor Ernest Pagano	Ceo	1 Feb 2018	Other	1563767
Justin Peter Palamara	Principal operations officer	1 Oct 2018	Other	3269426
Daniel Glenn Odonnell	Ceo	1 Jan 2019	Other	3160132

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Citigroup Inc	100% shareholder	1 Jan 1980	75% - 100%	52-1568099
Citicorp Banking Corporation	100% shareholder	1 Dec 1994	75% - 100%	13-3012736
Inc. Citicorp Investment Partners	100% equity owner	1 Apr 2010	75% - 100%	13-3765667
Citicorp Banking Corporation	Sh	1 Apr 2010	75% - 100%	13-3012736
Citigroup Inc.	Sh	1 Apr 2010	75% - 100%	52-1568099

Based in New York

The principal office where Citi Private Advisory, LLC performs its advisory services is located at 388 Greenwich Street, New York, NY 10013, 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 212-559-1000. The normal business hours are 9:00am-5:00pm on Monday - Friday.