Citizens Securities, Inc. is a large advisory firm based in Dedham. It manages $3.57 billion of regulatory assets for 28,867 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.
Citizens Securities provides portfolio management for individuals and small businesses, selection of other advisers, and participate in wrap fee program. 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 Citizens Securities, Inc. is $3.57 billion. The company doesn't manage any assets belonging to foreign clients.
The advisory firm has a single stream of revenue. Clients pay Citizens Securities, Inc. for their services and products based on a percentage of assets under management. 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.
The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Frank Paul Drago is individuals with 27,021 clients and $2.99 billion of assets under management. Among the 11 most similar advisory firms, Citizens Securities has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $3.57 billion for 28,867 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.
Citizens Securities doesn't advise any private funds.
The company employs 1,481 people that are either part- or full-time employees. 27 percent of the employees work as investment advisers or researchers. 424 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.
Frank Paul Drago has been acting as President since 1 Jan 2016. David Howard Shore joined the executive team most recently as the Chief Compliance Officer.
The principal office where Citizens Securities, Inc. performs its advisory services is located at 770 Legacy Place, Dedham, MA 02026 The mailing address of the firm is 45 Dan Road, Canton, MA 02061. An additional office of the firm is in Newtown Sq, PA. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 1-800-942-8300 or by fax 877-349-3048. 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 citizensbank.com.