Cynosure Advisors, LLC (Salt Lake City)

Name: Cynosure Advisors, LLC
Address: 79 South Main Street, Salt Lake City, UT, 84111 1929
Telephone: 801.521.3100

Cynosure Advisors, LLC is a large advisory firm based in Salt Lake City. It manages $428.43 million of regulatory assets for 89 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California and Utah.

Cynosure Advisors provides portfolio management for individuals and small businesses, 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.

Cynosure Advisors: assets under management

The assets under management (AUM) of Cynosure Advisors, LLC is $428.43 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $428.43 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4.81 million each.

Cynosure Advisors has custody of $428.43 million in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 87% of the total AUM. The second-largest asset type is investment and business development companies, which make up 12% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cynosure Advisors, LLC 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 Cynosure Advisors serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Cynosure Advisors is charitable organizations with 6 clients and $406.83 million of assets under management. Among the 4 most similar advisory firms, Cynosure Advisors has the highest percentage of charitable organizations out of all clients.

The amount of regulatory assets under management is $428.43 million for 13 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.

Cynosure Advisors doesn't advise any private funds.

Careers at Cynosure Advisors, LLC

The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 5 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Spencer Peterson Eccles	Member and chief executive officer	1 Jan 2016	25% - 50%	6589570
Sophia Masami Dicaro	Chief compliance officer	1 Jan 2016	Other	4757354
Clista Hope Eccles	Member	1 Jan 2016	Other	6589577
Lisa Ellen Eccles	Member	1 Jan 2016	Other	6589578
Katherine Ann Eccles	Member	1 Jan 2016	Other	6589580
Randal Keith Quarles	Managing director	1 Jan 2016	Other	6067244
Spencer P. Eccles	Member and chief executive officer	1 Jan 2016	25% - 50%	6589570
C. Hope Eccles	Member	1 Jan 2016	Other	6589577
Richard Keith Taylor	Managing director/member	1 May 2016	Other	4992112
Herbert Eugene Scruggs	Managing director/member	1 May 2016	Other	6589573
Randal Quarles And Hope Eccles Family Trust	Trust/member	1 Jun 2016	Other	81-6511059
David Reed Hunter	Managing director/head of investor relations	1 Mar 2018	Other	4562186

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Clista Hope Eccles	Trustee	1 Apr 2016	75% - 100%	6589577
Randal Quarles And Hope Eccles Family Trust	Trust	1 Apr 2016	75% - 100%	1.81-6511059

Based in Salt Lake City

The principal office where Cynosure Advisors, LLC performs its advisory services is located at 79 South Main Street, Salt Lake City, UT 84111 1929, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 801.521.3100 or by fax 801.883.8086. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at cynosuregroup.com.