Cigna Investments, Inc. (Bloomfield)

Cigna Investments, Inc. is a large advisory firm based in Bloomfield. It manages $38.99 billion of regulatory assets for 91 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Connecticut and Texas.

Cigna Investments provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cigna Investments: assets under management

The assets under management (AUM) of Cigna Investments, Inc. is $38.99 billion. The firm's AUM has grown by 119% since the beginning of its operation, and $11.05 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $29.85 billion in discretionary accounts and $9.14 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $351.21 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.52 billion.

Cigna Investments has custody of $29.85 billion in cash and securities for 85 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-investment grade corporate bonds the most. They account for 8% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 7% of the firm’s portfolio. Investments in exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cigna Investments, 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.

What kind of clients Christopher Snow serves?

The firm provides services to insurance companies, charitable organizations, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Christopher Snow is insurance companies with 65 clients and $27.65 billion of assets under management. Among the 8 most similar advisory firms, Cigna Investments has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $32.73 billion for 88 clients. 22% of the firm’s clients are foreign persons or businesses.

Cigna Investments also advises several private funds. Namely, one liquidity fund and one real estate fund.

Careers at Cigna Investments, Inc.

The company employs 130 people that are either part- or full-time employees. 42 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Christopher Snow has been acting as President since 1 May 2009. David Andrew Russell joined the executive team most recently as the Director, Assistant Vice President And Treasurer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Cigna Investment Group	Shareholder	1 Nov 1983	75% - 100%	06-1095823
Richard Hyde Forde	Director, president, chairman of the board, and senior managing director	1 Jul 2004	Other	3138898
Jeffrey Martin Weinman	Director, assistant vice president and treasurer	1 Jan 2005	Other	4344642
Alan Innes	Vice president & chief compliance officer	1 Apr 2008	Other	5605060
Frank Sataline	Director, senior managing director	1 Sep 2008	Other	4687452
Christopher Snow	Director	1 May 2009	Other	5772680
David Michael Somers Ii	Chief compliance officer & vice president	1 Mar 2012	Other	4413478
Frank Sataline	Director, president, chairman of the board, and senior managing director	1 Jul 2012	Other	4687452
David Andrew Russell	Director, assistant vice president and treasurer	1 Jul 2014	Other	6378251

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Cigna Corporation	Shareholder	1 Mar 1982	75% - 100%	06-1059331
Inc. Cigna Holdings	Shareholder	1 Nov 1983	75% - 100%	06-1072796

Based in Bloomfield

The principal office where Cigna Investments, Inc. performs its advisory services is located at 900 Cottage Grove Road, Bloomfield, CT 06002 The mailing address of the firm is 900 Cottage Grove Road, Bloomfield, CT 06002. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 860-226-3723. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday.