Broker-dealer firm · Johnston, RI
Citizens Securities, Inc.
SEC-registered investment adviser · CRD 39550 · SEC 801-61902
At a glance
Citizens Securities, Inc. is an SEC-registered investment adviser based in Johnston, Rhode Island, with $12.9 billion in regulatory assets under management as of its Form ADV filed September 3, 2026. Its largest client group by assets is individuals, and it reports 60,162 individual clients. By Form ADV it is a broker-dealer firm, ranked 57th of 391 broker-dealer firms and 1,162nd of 17,210 SEC-registered advisers by assets.
Main office 800-942-8300citizensbank.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $13B
- Rank among broker-dealer firms
- #57 of 391
- Rank among all SEC RIAs
- #1,162 of 17,210
- Rank in Rhode Island
- #4 of 49
- Individual clients
- 60,162
- High-net-worth clients
- 44
- Accounts
- 60,545
- Discretionary
- 0% of AUM
- Employees
- 471
- Advisory staff
- 454
- Offices
- 994
Owners and executives on its Form ADV
- Kevin John CarvalhoChief Financial Officer
- David Howard ShoreChief Compliance Officer
- Chad ArnoldCOO Wealth, Executive Vice President
- Michael ChernyPresident
Custody and brokerage
Custodian
Citizens Securities, Inc.’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Hybrid RIA
Citizens Securities, Inc. is a hybrid RIA: 456 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Citizens JMP Securities, LLC.
- Citizens JMP Securities, LLC ↗CRD 22208
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 60,118 | $12B | 95% |
| High-net-worth individuals | 44 | $359M | 3% |
| Corporations or other businesses | 383 | $303M | 2% |
Disciplinary disclosures
Citizens Securities, Inc. answers yes to 8 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
Form ADV and brochures on the SEC’s adviser search ↗citizensbank.com ↗
AtlasMembers
The full record on Citizens Securities, Inc.
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 63 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Citizens Securities, Inc. manage?
Citizens Securities, Inc. reports $12.9 billion in regulatory assets under management across 60,545 accounts, on its Form ADV filed September 3, 2026.
What kind of firm is Citizens Securities, Inc.?
Citizens Securities, Inc. is a broker-dealer firm by its Form ADV answers. The firm is itself registered as a broker-dealer as well as an investment adviser. It reports a bank or thrift among its related persons. A public reporting company controls it.
Who are Citizens Securities, Inc.’s clients?
By assets, its largest client types are individuals ($12.2 billion, 60,118 clients); high-net-worth individuals ($359 million, 44 clients); corporations or other businesses ($303 million, 383 clients).
Does Citizens Securities, Inc. have any disciplinary history?
Citizens Securities, Inc. answers yes to 8 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Citizens Securities, Inc.’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 (2026-09-03), 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). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. 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 →