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Cary Street Partners Investment Advisory

SEC-registered adviser since 2005Richmond, VACRD 128545

$10.3B
AUM
6,988
Clients
See fees
Fee
85
Advisory staff

From Form ADV filed 30 March 2026 · data retrieved 15 October 2026SEC record

Cary Street Partners Investment Advisory is an investment adviser headquartered in Richmond, Virginia, and registered with the SEC since 2005. Its clients include high-net-worth individuals, other individuals, and pension and profit-sharing plans. High-net-worth individuals account for 73% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, and educational seminars. Fee arrangements include a percentage of assets under management, hourly charges, fixed fees, performance-based fees and other arrangements. Cary Street Partners owns 75% or more of Cary Street Partners Investment Advisory, and Joseph Schmuckler is its CEO.

Clients

Cary Street Partners Investment Advisory serves 6,988 clients, 2,175 of them high-net-worth individuals. The average client has about $1.5 million with the firm, and high-net-worth clients hold 73% of its $10.3 billion in assets.

Regulatory assets by client type
  • Individuals4,466 clients14%
  • High-net-worth individuals2,175 clients73%
  • Pension and profit-sharing plans190 clients8%
  • Corporations and other businesses100 clients2%
  • OtherCharitable organizations, State or municipal government entities, Insurance companies3%
Show client breakdown
Individuals (other than HNW)
Clients
4,466
Regulatory AUM
$1,463,024,553
Share
14.3%
Avg. per client
$328K
High-net-worth individuals
Clients
2,175
Regulatory AUM
$7,445,316,855
Share
72.6%
Avg. per client
$3.42M
Pension and profit-sharing plans
Clients
190
Regulatory AUM
$802,054,344
Share
7.8%
Avg. per client
$4.22M
Charitable organizations
Clients
53
Regulatory AUM
$155,714,662
Share
1.5%
Avg. per client
$2.94M
State or municipal government entities
Clients
1
Regulatory AUM
$786,914
Share
0.0%
Avg. per client
$787K
Insurance companies
Clients
3
Regulatory AUM
$147,675,068
Share
1.4%
Avg. per client
$49.2M
Corporations and other businesses
Clients
100
Regulatory AUM
$237,691,905
Share
2.3%
Avg. per client
$2.38M

Total

Clients
6,988
Regulatory AUM
$10,252,264,301
Share
100%
Avg. per client
$1.47M

What it does

Cary Street Partners Investment Advisory provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars. It is paid through a percentage of assets, hourly charges, fixed fees, performance-based fees and other arrangements.

Cary Street Partners Investment Advisory provided financial planning to 2,000 clients last fiscal year and advises no private funds.

67.8% of assets ($6.95B across 10,130 accounts) are managed with discretion; $3.31B across 6,601 accounts are not. $1.41B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks28%
  • Funds56%
    • Registered funds55%
    • Pooled vehicles1%
  • Bonds9%
    • State and local bonds4%
    • U.S. government and agency bonds3%
    • Investment grade corporate bonds2%
  • Cash6%
  • Other1%
    • Annuities, limited partnerships1%

Custodians

Cary Street Partners Investment Advisory’s client accounts are held mainly at Charles Schwab, with 47% of managed assets, and Wells Fargo Clearing Services, with 38%. Cary Street Partners Investment Advisory has custody of $1.82B for 1,093 clients.

Managed account assets by custodian
  • Wells Fargo Clearing ServicesWells Fargo Clearing Services, LLC · ST. Louis, MO · $3.85B38%
  • Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $4.84B47%
  • All other custodians$1.56B15%

Ownership and leadership

Cary Street Partners owns 75% or more of Cary Street Partners Investment Advisory, and Joseph Schmuckler is its CEO.

Who owns the firm
Cary Street Partners Investment Advisory LLC· the adviser

  • Cary Street Partners

    Control person · since January 2004

    Owns 75% or more of Cary Street Partners Investment Advisory LLC

  • Cary Street Partners Financial LLC ("CSPF")

    Control person · since January 2004

    Owns 75% or more of Cary Street Partners Investment Advisory LLC

Leadership

  • Joseph Schmuckler
    Chief Executive Officer (CSPF)
  • Walter Bayne
    President, Managing Director
  • Kevin Mitchell
    Chief Financial Officer, Director
  • Wesley Gallup
    Chief Operating Officer, Managing Director
  • Nancy Oliver
    Chief Compliance Officer, Director
  • Matthew Rubin
    Chief Investment Officer, Managing Director
  • Thomas Tullidge
    Secretary/Treasurer, Managing Director; Chief Strategy Officer, Legal and Finance (CSPF)

Staff

  • 182 employees
  • 85 in advisory functions
  • 110 state-registered reps
  • 81 broker-dealer reps
  • 52 insurance agents
  • 10 soliciting firms

Reported holdings

Cary Street Partners Investment Advisory’s reported 13F holdings total $494.2M across 758 positions, and the ten largest make up 18.8% of it.

$494.2M
Reported 13F value
758
Positions
18.8%
In the 10 largest
+26.2%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Apple Inc.3.1%
  2. Nvidia Corporation2.4%
  3. Microsoft Corp.2.0%
  4. Vanguard Value ETFETF1.9%
  5. Vanguard FTSE All-world Ex-us Index FundETF1.8%
  6. Alphabet Inc. Cap Stk CL C1.7%
  7. State Street SPDR Portfolio S&P 500 ETFETF1.6%
  8. iShares Core S&P 500 ETFETF1.4%
  9. Technology Select Sector SPDR FundETF1.4%
  10. Broadcom Inc.1.4%

Together, the ten largest are 18.8% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 17 July 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $494.2M is not its $10.25B in regulatory assets and does not represent any individual client's portfolio.

Fees

Cary Street Partners Investment Advisory is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees), performance-based fees and other.

Cary Street Partners Investment Advisory’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Cary Street Partners Investment Advisory has 24 offices (4 private residences, listed without an address), with 21 listed addresses across 7 states.

Listed office addresses by state

Virginia · 10 listed addresses

  • 901 East Byrd Street, Suite 1001, RichmondHQ
  • 4401 Waterfront Drive, Glen Allen
  • 143 West Main Street, Abingdon
  • 1000 Winchester Street, Fredericksburg
  • 185 West Main Street, Wytheville
  • 6862 Elm Street, McLean
  • 601 South Jefferson ST., Roanoke
  • 2101 Parks Avenue, Virginia Beach
  • 200 Garrett Street, Charlottesville
  • 1 South King Street, Leesburg

Other business names

Cary Street Partners Investment Advisory has reported 1 other business name to the SEC.

  • Cary Street Partners

Registration details

Legal name
Cary Street Partners Investment Advisory LLC
Headquarters
901 East Byrd Street, Suite 1001, Richmond, VA 23219
Phone
804-340-8100
Website
carystreetpartners.com
SEC file
801-64239
Structure
Virginia 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 Cary Street Partners Investment Advisory have?

Cary Street Partners Investment Advisory has 6,988 clients and manages $10.3 billion for them, as of March 2026. They include 4,466 other individuals, 2,175 high-net-worth individuals and 190 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026

What services does Cary Street Partners Investment Advisory offer?

Cary Street Partners Investment Advisory provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Cary Street Partners Investment Advisory use?

Cary Street Partners Investment Advisory’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $4,839,153,671 and Wells Fargo Clearing Services, LLC (ST. Louis, MO), with $3,849,805,863. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026

How many financial advisors does Cary Street Partners Investment Advisory have?

Cary Street Partners Investment Advisory has 110 investment adviser representatives registered with state securities authorities, out of 182 employees, and 85 perform investment advisory functions. 81 are registered representatives of a broker-dealer and 52 are 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 Cary Street Partners Investment Advisory invest in?

At the end of its last fiscal year, Cary Street Partners Investment Advisory’s separately managed accounts held 55% registered funds (mutual funds, ETFs, BDCs), 28% exchange-traded equities, 6% cash and equivalents, 4% state and local bonds, 3% U.S. government and agency bonds, 2% investment grade corporate bonds, 1% pooled vehicles (private funds and similar) and 1% annuities, limited partnerships. 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 Cary Street Partners Investment Advisory?

Cary Street Partners Investment Advisory is owned through a chain of holding companies by Civc Partners Fund VII, L.P. Its direct owners are Cary Street Partners (75% or more) and Cary Street Partners Financial LLC ("CSPF") (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026

How does Cary Street Partners Investment Advisory get paid?

Cary Street Partners Investment Advisory is paid through a percentage of assets under management, hourly charges, fixed fees, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 30 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 128545.
  3. Form 13F-HR, filed 17 July 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Cary Street Partners Investment Advisory LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.