Clients
1919 Investment Counsel serves 5,169 clients, 2,653 of them high-net-worth individuals. The average client has about $5 million with the firm, and high-net-worth clients hold 72% of its $26 billion in assets.
- Individuals2,213 clients4%
- High-net-worth individuals2,653 clients72%
- Investment companies2 clients4%
- Pension and profit-sharing plans50 clients4%
- Charitable organizations146 clients9%
- OtherCorporations and other businesses, State or municipal government entities7%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 2,213 | $1,015,405,892 | 3.9% | $459K |
| High-net-worth individuals | 2,653 | $18,840,060,771 | 72.4% | $7.10M |
| Investment companies | 2 | $1,048,458,042 | 4.0% | $524.2M |
| Pension and profit-sharing plans | 50 | $962,275,770 | 3.7% | $19.2M |
| Charitable organizations | 146 | $2,370,889,506 | 9.1% | $16.2M |
| State or municipal government entities | 3 | $40,193,509 | 0.2% | $13.4M |
| Corporations and other businesses | 102 | $1,758,882,726 | 6.8% | $17.2M |
| Total | 5,169 | $26,036,166,216 | 100% | $5.04M |
- Clients
- 2,213
- Regulatory AUM
- $1,015,405,892
- Share
- 3.9%
- Avg. per client
- $459K
- Clients
- 2,653
- Regulatory AUM
- $18,840,060,771
- Share
- 72.4%
- Avg. per client
- $7.10M
- Clients
- 2
- Regulatory AUM
- $1,048,458,042
- Share
- 4.0%
- Avg. per client
- $524.2M
- Clients
- 50
- Regulatory AUM
- $962,275,770
- Share
- 3.7%
- Avg. per client
- $19.2M
- Clients
- 146
- Regulatory AUM
- $2,370,889,506
- Share
- 9.1%
- Avg. per client
- $16.2M
- Clients
- 3
- Regulatory AUM
- $40,193,509
- Share
- 0.2%
- Avg. per client
- $13.4M
- Clients
- 102
- Regulatory AUM
- $1,758,882,726
- Share
- 6.8%
- Avg. per client
- $17.2M
Total
- Clients
- 5,169
- Regulatory AUM
- $26,036,166,216
- Share
- 100%
- Avg. per client
- $5.04M
What it does
1919 Investment Counsel provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, pension consulting, selecting other managers and other activities. It is paid through a percentage of assets, fixed fees and other arrangements.
1919 Investment Counsel provided financial planning to 251–500 clients last fiscal year and advises no private funds.
99.6% of assets ($25.94B across 5,140 accounts) are managed with discretion; $94.0M across 29 accounts are not. $1.58B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 6 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks63%
- Exchange-traded equities62%
- Non-exchange-traded equities1%
- Funds10%
- Bonds23%
- State and local bonds10%
- U.S. government and agency bonds8%
- Investment grade corporate bonds5%
- Cash4%
Custodians
1919 Investment Counsel’s client accounts are held mainly at Charles Schwab, with 22% of managed assets, and Fidelity, with 21%. 1919 Investment Counsel has custody of $23.08B for 4,359 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $5.75B22%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $5.47B21%
- U.S. Bancorp InvestmentsU.S. Bancorp Investments, Inc. · Minneapolis, MN · $2.54B10%
- Citigroup Private BankCitigroup Private Bank · New York, NY · $2.64B10%
- All other custodians$9.64B37%
Ownership and leadership
Stifel Financial Corp. owns 75% or more of 1919 Investment Counsel, and Harry Omealia is its CEO.
- Owns 75% or more of 1919 Investment Counsel, LLC
Stifel Financial Corp.
Control person · since January 2016
Leadership
- Harry OmealiaPresident and Chief Executive Officer, Managing Member
- Michael SperoChief Compliance Officer
- Paul BenzigerManaging Member
- Nell KelleherDirector of Operations and Administration
- Charles KingManaging Member
- Faith MutungaDirector of Finance
Staff
- 131 employees
- 52 in advisory functions
- 32 state-registered reps
- 17 soliciting firms
Fees
1919 Investment Counsel is paid through a percentage of assets under management, fixed fees (other than subscription fees) and other.
1919 Investment Counsel’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, 1919 Investment Counsel has 8 offices, with 9 listed addresses across 8 states.
Pennsylvania · 2 listed addresses
- Two Logan Square, Philadelphia
- Two Logan Square, Philadelphia
Alabama · 1 listed address
- 2311 Highland Avenue South, Birmingham
California · 1 listed address
- 49 Stevenson Street, San Francisco
Florida · 1 listed address
- 4445 North A1a, Vero Beach
Maryland · 1 listed address
- One South Street, Suite 2500, BaltimoreHQ
New York · 1 listed address
- 787 Seventh Avenue, New York
North Carolina · 1 listed address
- 6100 Fairview, Charlotte
Ohio · 1 listed address
- 600 Vine Street, Cincinnati
Other business names
1919 Investment Counsel has reported 1 other business name to the SEC.
- Arthur Karafin Investment Advisors, A Department of 1919 Investment Counsel, LLC
Registration details
- Legal name
- 1919 Investment Counsel, LLC
- Headquarters
- One South Street, Suite 2500, Baltimore, MD 21202
- Phone
- 410-454-2171
- Website
- Not reported
- SEC file
- 801-63656
- Structure
- Maryland LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does 1919 Investment Counsel have?
1919 Investment Counsel has 5,169 clients and manages $26 billion for them, as of August 2026. They include 2,653 high-net-worth individuals, 2,213 other individuals and 146 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 August 2026
What services does 1919 Investment Counsel offer?
1919 Investment Counsel provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, pension consulting, selecting other managers and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does 1919 Investment Counsel use?
1919 Investment Counsel’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $5,750,530,498, Fidelity Brokerage Services LLC (Smithfield, RI), with $5,468,963,363, Citigroup Private Bank (New York, NY), with $2,638,670,820 and U.S. Bancorp Investments, Inc. (Minneapolis, MN), with $2,541,061,679. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 August 2026
How many financial advisors does 1919 Investment Counsel have?
1919 Investment Counsel has 32 investment adviser representatives registered with state securities authorities, out of 131 employees, and 52 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does 1919 Investment Counsel invest in?
At the end of its last fiscal year, 1919 Investment Counsel’s separately managed accounts held 62% exchange-traded equities, 10% state and local bonds, 10% registered funds (mutual funds, ETFs, BDCs), 8% U.S. government and agency bonds, 5% investment grade corporate bonds, 4% cash and equivalents and 1% non-exchange-traded equities. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns 1919 Investment Counsel?
1919 Investment Counsel’s direct owner is Stifel Financial Corp. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 August 2026
How does 1919 Investment Counsel get paid?
1919 Investment Counsel is paid through a percentage of assets under management, fixed fees and other arrangements. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file