Wealth manager, independent · Richmond, VA
Cary Street Partners
Cary Street Partners Investment Advisory LLC · SEC-registered investment adviser · CRD 128545 · SEC 801-64239
At a glance
Cary Street Partners is an SEC-registered investment adviser based in Richmond, Virginia, with $10B in regulatory assets under management as of its Form ADV filed March 30, 2026. It reports 6,641 individual clients, 2,175 of them high-net-worth, holding an average of about $1.3 million each, and 182 employees. That ranks it 94th among the nation’s 5,657 independent wealth management RIAs and 1st of 151 in Virginia. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Wells Fargo.
Main office 804-340-8100carystreetpartners.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $10B
- Rank among independent wealth managers
- #94 of 5,657
- Rank among all SEC RIAs
- #1,340 of 17,210
- Rank in Virginia
- #1 of 151
- Individual clients
- 6,641
- High-net-worth clients
- 2,175
- Accounts
- 16,731
- Discretionary
- 68% of AUM
- Employees
- 182
- Advisory staff
- 85
- Offices
- 25
Owners and executives on its Form ADV
- Walter D. BaynePresident, Managing Director
- Kevin L. MitchellChief Financial Officer, Director
- Thomas H. TullidgeSecretary/treasurer, Managing Director; Chief Strategy Officer, Legal and Finance (cspf)
- Wesley H. GallupChief Operating Officer, Managing Director
- Joseph R. SchmucklerChief Executive Officer (cspf)
- Matthew L. RubinChief Investment Officer, Managing Director
- Nancy R. OliverChief Compliance Officer, Director
Custody and brokerage
Broker-dealer
Hybrid RIA
Cary Street Partners is a hybrid RIA: 81 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Cary Street Partners LLC.
- Cary Street Partners LLC ↗CRD 128089
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Its Form ADV brochure (filed March 2026) names Cary Street Partners as the broker-dealer its advisers are registered with.
Other Financial Industry Activities and Affiliations The appropriate personnel of CSPIA are registered as investment adviser representatives within their state jurisdiction and registered representatives with CSP LLC if performing broker-de
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 2,175 | $7.4B | 73% |
| Individuals | 4,466 | $1.5B | 14% |
| Pension and profit sharing plans | 190 | $802M | 8% |
| Corporations or other businesses | 100 | $238M | 2% |
| Charitable organizations | 53 | $156M | 2% |
| Insurance companies | 3 | $148M | 1% |
| State or municipal government entities | 1 | $1M | <1% |
Disciplinary disclosures
Cary Street Partners 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 businesses and institutions
- Pension consulting
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗carystreetpartners.com ↗
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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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- Rank against 396 peers of its type and size
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- 7 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 Virginia
All of Virginia →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Cassaday & Company, Inc.McLean | $7.1B | 3,142 |
| AndersenMcLean | $6.3B | 550 |
| Heritage Wealth AdvisorsRichmond | $4.9B | 384 |
| The Ascent Group, LLCVirginia Beach | $4.8B | 4,177 |
| Spire Wealth Management, LLCMcLean | $4.5B | 6,151 |
| Wealthcare Capital Management LLCRichmond | $3.9B | 5,638 |
Compare Cary Street Partners with
- Cary Street Partners vs Parallel Advisors, LLC $10B · SAN Francisco, CA
- Cary Street Partners vs Bartlett & Co. Wealth Management LLC $10B · Cincinnati, OH
- Cary Street Partners vs Tocqueville Asset Management LP $10B · New York, NY
- Cary Street Partners vs Callan Family Office, LLC $10B · Radnor, PA
- Cary Street Partners vs Cassaday & Company, Inc. $7.1B · McLean, VA
Background
Questions
How much does Cary Street Partners manage?
Cary Street Partners reports $10B in regulatory assets under management across 16,731 accounts, 68% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
How many clients does Cary Street Partners have?
It reports 6,641 individual clients: 2,175 high-net-worth individuals and 4,466 other individuals. Individuals account for about 87% of its regulatory assets.
Where is Cary Street Partners headquartered?
Its main office is in Richmond, Virginia. It reports 25 offices in total and 182 employees, 85 of whom perform investment advisory functions.
How does Cary Street Partners charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; performance-based fees; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Cary Street Partners use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Wells Fargo. On Schedule D of its Form ADV filed March 30, 2026, it reports these amounts held: Charles Schwab ($4.8B); Wells Fargo ($3.8B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Cary Street Partners a hybrid RIA with a broker-dealer?
Cary Street Partners is a hybrid RIA: 81 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Cary Street Partners LLC. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Cary Street Partners a fiduciary?
As an SEC-registered investment adviser, Cary Street Partners owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 81 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 Cary Street Partners’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 →