Wealth manager, independent · New York, NY
Cannell & Spears LLC
SEC-registered investment adviser · CRD 142633 · SEC 801-67401
At a glance
Cannell & Spears LLC is an SEC-registered investment adviser based in New York, New York, with $7.0B in regulatory assets under management as of its Form ADV filed March 30, 2026. It reports 2,394 individual clients, 1,937 of them high-net-worth, holding an average of about $2.6 million each, and 40 employees. That ranks it 153rd among the nation’s 5,657 independent wealth management RIAs and 19th of 408 in New York. It reports 3 custodians for its clients’ separately managed accounts: Fiduciary Trust, Charles Schwab and Fidelity.
Main office 212-752-5255cannellspears.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $7.0B
- Rank among independent wealth managers
- #153 of 5,657
- Rank among all SEC RIAs
- #1,697 of 17,210
- Rank in New York
- #19 of 408
- Individual clients
- 2,394
- High-net-worth clients
- 1,937
- Accounts
- 2,577
- Discretionary
- 97% of AUM
- Employees
- 40
- Advisory staff
- 17
- Offices
- 2
Owners and executives on its Form ADV
- William G. SpearsPrincipal
- Robert M. RaichManaging Principal and Portfolio Manager
- Margaret M. MaclennanMember and Principal
- James E. BreeceManaging Principal and Portfolio Manager
- Paul F. PfeifferMember and Principal
- John V. RaggioMember and Principal
- Robert P. MorgenthauMember and Principal
- Michele D. ClearyPrincipal
- Emanuel WeintraubPrincipal
- Joseph B. WernerChairman and Portfolio Manager
- Edward M. GilesPrincipal
- Ian B. MaccallumPrincipal
Custody and brokerage
Broker-dealer
Hybrid RIA
Cannell & Spears LLC is a hybrid RIA: 2 of its employees are also registered representatives of a broker-dealer.
Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 1,937 | $6.2B | 89% |
| Charitable organizations | 53 | $250M | 4% |
| Corporations or other businesses | 43 | $232M | 3% |
| Investment companies | 1 | $114M | 2% |
| Individuals | 457 | $113M | 2% |
| Pension and profit sharing plans | 56 | $51M | <1% |
| Pooled investment vehicles | 2 | $12M | <1% |
Private funds
Cannell & Spears LLC reports 2 private funds with $12M in gross assets: other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Cannell & Spears LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗cannellspears.com ↗
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The full record on Cannell & Spears LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 591 peers of its type and size
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- Owners and executives, with titles and stakes
- 22 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in New York
All of New York →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Douglas C. Lane & AssociatesNew York | $8.4B | 1,084 |
| Ingalls Investment Management, LLCNew York | $7.8B | 4,245 |
| TAG Associates LLCNew York | $7.1B | 80 |
| Stelac Advisory Services LLCNew York | $6.3B | 98 |
| J. Safra Asset Management CorporationNew York City | $6.3B | 3,374 |
| Klingman and Associates, LLCNew York | $5.7B | 704 |
Background
Questions
How much does Cannell & Spears LLC manage?
Cannell & Spears LLC reports $7.0B in regulatory assets under management across 2,577 accounts, 97% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
How many clients does Cannell & Spears LLC have?
It reports 2,394 individual clients: 1,937 high-net-worth individuals and 457 other individuals. Individuals account for about 91% of its regulatory assets.
Where is Cannell & Spears LLC headquartered?
Its main office is in New York, New York. It reports 2 offices in total and 40 employees, 17 of whom perform investment advisory functions.
How does Cannell & Spears LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Cannell & Spears LLC use?
It reports 3 custodians for its clients’ separately managed accounts: Fiduciary Trust, Charles Schwab and Fidelity. On Schedule D of its Form ADV filed March 30, 2026, it reports these amounts held: Fiduciary Trust ($2.7B); Charles Schwab ($2.5B); Fidelity ($1.2B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Cannell & Spears LLC a hybrid RIA with a broker-dealer?
Cannell & Spears LLC is a hybrid RIA: 2 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Cannell & Spears LLC a fiduciary?
As an SEC-registered investment adviser, Cannell & Spears LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 2 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Cannell & Spears LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →