Michael Cherny is a registered investment advisor at Citizens Securities, INC., based in New York, NY, with 20 years of industry experience. Michael operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include High Net Worth, Investment Management. Their firm serves 53,044 clients with $9.2B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Citizens Securities offers investment management through its Managed Account Program. The fees vary depending on the specific program selected.
The maximum annual rate for Citizens Securities' component of the fee is 2.00%. The total fee covers asset allocation recommendations, manager research, brokerage, custody, performance reports, and administrative services. Third-party manager fees typically range from 0.02% to 0.50%.
Fees are negotiable under some circumstances, such as the type and size of the client account and the range of services provided.
For Connect accounts, there is a minimum investment of $2,000.
Location
1301 AVENUE OF THE AMERICAS, 2nd FLOOR, New York, NY, 10019
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Regulatory History
No disclosures, customer disputes, or regulatory actions on file.
Disclosures include customer complaints, regulatory actions, and other events that advisors must report to the SEC. A clean record means none have been reported.
Learn about disclosures →Other Business Activities
Michael is a member of GBIJ AM, LLC, partnering with his wife on a family business. He is also a silent partner/member in several real estate LLCs (GBIJ KP Realty, GBIJ Realty, and GBIJ Masthope LLC) and an investor in NYC by Yacht LLC. All these activities require minimal time commitment.
Employment History
Current Registrations
Citizens Securities, INC.Broker
Citizens Securities, INC.
Previous Registrations
J.P. Morgan Securities LLC
J.P. Morgan Securities LLCBroker
Chase Investment Services CORP.Broker
Chase Investment Services CORP.
Morgan Stanley
Morgan Stanley Dw INC.Broker
State Registrations11 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.