# Citizens Private Wealth

> Citizens Private Wealth is an SEC-registered investment advisory firm in Tarrytown, NY, registered since 1992, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 8, 2026.

- CRD: 106743
- Filed as: CITIZENS PRIVATE WEALTH
- Legal name: Citizens Private Wealth, LLC
- Also doing business as: CITIZENS PRIVATE WEALTH, CLARFELD, ESTATE PRESERVATION SERVICES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Tarrytown, NY
- Filing period: October 2026
- Form ADV filing dated: July 8, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106743
- AdvisorCensus page: https://advisorcensus.com/firm/citizens-private-wealth-tarrytown-ny-106743

## Quick answers

**How is Citizens Private Wealth compensated?**
On its Form ADV (Item 5.E, October 2026), Citizens Private Wealth reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Citizens Private Wealth located?**
Citizens Private Wealth's principal office is in Tarrytown, NY, according to its Form ADV; the August 2026 filing also lists 20 other offices (Schedule D, Section 1.F).

**Is Citizens Private Wealth registered with the SEC or a state?**
Citizens Private Wealth is an SEC-registered investment advisory firm, registered since 1992. Status as filed: Approved. CRD 106743.

**How much does Citizens Private Wealth manage?**
Citizens Private Wealth reports $16,634,578,146 in regulatory assets under management in its Form ADV filing dated July 8, 2026 (86% discretionary).

**How have Citizens Private Wealth's assets and staff changed since 2021?**
In the Form ADV data for Citizens Private Wealth: Regulatory assets under management: $5,966,716,000 in the October 2021 data and $16,634,578,146 in the October 2026 data, up 179%. Total employees: 135 in October 2021 and 214 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Citizens Private Wealth serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (2,465); corporations or other businesses not listed above (95); charitable organizations (7).

**Which custodians does Citizens Private Wealth use?**
Citizens Private Wealth's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Citizens Private Wealth report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation), 11.D(4) (another regulator's order in the past ten years), and 11.G (pending regulatory proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106743

**Does Citizens Private Wealth state an account minimum?**
Its Form ADV Part 2A brochure dated July 8, 2026 says: "we do not impose any minimum account size as a condition for starting or maintaining an advisory relationship."

**What changed in Citizens Private Wealth's recent Form ADV filings?**
In the August 2026 filing data: Changed its legal name from Clarfeld Financial Advisors, LLC to Citizens Private Wealth, LLC. Employees performing advisory functions went from 204 to 214.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated July 8, 2026)

- Account minimum: None

> we do not impose any minimum account size as a condition for starting or maintaining an advisory relationship.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $16,634,578,146
- Discretionary: $14,334,685,305
- Non-discretionary: $2,299,892,841

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 2,465 | $15,704,634,716 |
| Charitable organizations | 7 | $145,717,426 |
| Corporations or other businesses not listed above | 95 | $784,226,004 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1992 (34 years)
- Employees: 214 total, 214 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.G: Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106743

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Beverly Hills, CA
- Boca Raton, FL
- Boston, MA
- Johnston, RI
- Los Angeles, CA
- Manchester, NH
- Marlton, NJ
- Melville, NY
- Menlo Park, CA
- Naples, FL
- New York, NY
- Newport Beach, CA
- Palm Beach, FL
- Pittsburgh, PA
- Portsmouth, NH
- Providence, RI
- San Francisco, CA
- Stamford, CT
- Westwood, MA
- Woodcliff Lake, NJ

### Websites listed on Form ADV (Item 1.I)
- citizensbank.com
- citizensbank.com/investing-and-wealth-management/services/clarfeld.aspx
- Facebook @CitizensWealthManagement
- Instagram @citizenswealthmanagement
- LinkedIn @citizens-private-wealth
- LinkedIn @citizens-wealth-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,966,716,000 | 135 | September 16, 2021 |
| October 2022 | $6,471,110,000 | 140 | September 14, 2022 |
| October 2023 | $7,105,624,000 | 140 | July 27, 2023 |
| October 2024 | $9,515,889,000 | 160 | September 25, 2024 |
| October 2025 | $12,182,945,000 | 200 | May 9, 2025 |
| October 2026 | $16,634,578,146 | 214 | July 8, 2026 |

Regulatory assets under management: $5,966,716,000 in the October 2021 data and $16,634,578,146 in the October 2026 data, up 179%.
Total employees: 135 in October 2021 and 214 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Changed its legal name from Clarfeld Financial Advisors, LLC to Citizens Private Wealth, LLC.
- Employees performing advisory functions went from 204 to 214.

### May 2026
- Item 11 disclosure answers changed: 3 yes answers, previously 8 (now no: 11.C(2), 11.C(4), 11.C(5), 11.D(1), 11.E(2)).

### April 2026
- No longer lists the business name Citizens Private Client.
- Employees performing advisory functions went from 200 to 204.
- Regulatory assets under management went from $12,182,945,000 to $15,542,802,000 (+28%).
- Changed its office addresses in Naples, FL.
- Changed its office addresses in New York, NY.
- Changed its office addresses in Newport Beach, CA.
- Added an office in Beverly Hills, CA.
- Added an office in Melville, NY.
- Added an office in Menlo Park, CA.
- Added an office in Stamford, CT.
- Added an office in Woodcliff Lake, NJ.
- No longer lists an office in Andover, MA.
- No longer lists an office in Conshohocken, PA.
- No longer lists an office in Fort Lauderdale, FL.
- No longer lists an office in Newport, RI.
- No longer lists an office in Phoenixville, PA.
- No longer lists an office in Princeton, NJ.
- No longer lists an office in Rochester, NY.
- No longer lists an office in Short Hills, NJ.
- No longer lists an office in West Hartford, CA.
- No longer lists an office in West Palm Beach, FL.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Citizens Private Wealth (CRD 106743): Form ADV filing data as of October 2026.