Sica Wealth Management, LLC (Morristown)

Name: Sica Wealth Management, LLC
Address: 67 East Park Place, Morristown, NJ, 07960
Telephone: 973-975-0750

Sica Wealth Management, LLC is a large advisory firm based in Morristown. It manages $130.25 million of regulatory assets for 919 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Connecticut, Florida, Louisiana, and 4 other states.

Sica Wealth Management provides financial planning services, 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.

Sica Wealth Management: assets under management

The assets under management (AUM) of Sica Wealth Management, LLC is $130.25 million. The firm's AUM has gone down by -31% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $116.31 million in discretionary accounts and $13.94 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $139.62 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $162.11 thousand.

Investments

The firm invests in pooled investment vehicles the most. They account for 51% of the total AUM. The second-largest asset type is investment and business development companies, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sica Wealth Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. 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 Sica Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Sica Wealth Management is high net worth individuals with 169 clients and $110.32 million of assets under management. Among the 11 most similar advisory firms, Sica Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $129.41 million for 287 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.

Sica Wealth Management doesn't advise any private funds.

Careers at Sica Wealth Management, LLC

The company employs 10 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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
Jeffrey Carmen Sica	Managing member	1 May 2010	75% - 100%	2454867
Cheryl Lynne Costa	Chief compliance officer	1 May 2010	Other	2124335
Mark Joseph Deangelis	Chief compliance officer	1 Nov 2018	Other	2827088

Based in Morristown

The principal office where Sica Wealth Management, LLC performs its advisory services is located at 67 East Park Place, Morristown, NJ 07960, which is also the mailing address of the firm. An additional office of the firm is in Palm Beach Gardens, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 973-975-0750 or by fax 973-889-1010. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at sicawealthmgt.com.