DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Citizens Securities, Inc.

Broker-dealer affiliated wealth managerJohnston, Rhode IslandCRD 39550SEC 801-61902websiteIAPD
Latest filing Sep 3, 2026
First filing on the tape Mar 30, 2012 · 69 filings
SEC status approved since Mar 27, 2003
RAUM
$13B
reported, Item 5.F
Discretionary
0.0%
of RAUM
Private clients
98%
$13B individuals and HNW
Advisors
782
registered through the firm on IAPD
RAUM per advisor
$16.5M
derived; firm RAUM over IAPD count
Employees
471
454 advisory (5.B.1)
Offices
993
beyond the principal office
Private funds
0
reported on Schedule D
History
69 filings and snapshots on the tape
RAUM$13B as of Apr 14, 2026
Mar 30, 2012$1.2B then
HNW client RAUM$359M as of Apr 14, 2026
Mar 30, 2018$558M then
State-registered IARs (5.B.3)454 as of Apr 14, 2026
Mar 30, 20120 then
Employees (5.A)471 as of Apr 14, 2026
Apr 1, 2013658 then
Private funds: no history
RAUM +40% over the last fiscal year+23% a year over threeIARs 400 to 454offices 1,022 to 993
Practice profile
derived from the filing of Sep 3, 2026; every figure names its basis
Archetypes, each a printed rule
  • Bank affiliated · Item 7.A.6 or 7.A.7 (bank or trust company affiliate) and a bank, bancorp or trust company as a 50 percent or greater owner on Schedule A
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$16.4MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
76derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$8.2MderivedHNW RAUM over HNW clients
Average account
$212,548derivedRAUM over accounts (5.F.2.f)
Discretionary
0.0%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.6derivedItem 5.A over advisors
Advisors per office
0.8derived994 offices incl. principal (1.F.5)
RAUM growth, one year
+40%derivedbetween the last two annual amendments
Advisor growth, one year
+14%derivedItem 5.B.3 between annual amendments
Client growth, one year
+14%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisers, otherreportedItem 5.G
Financial planning clients
18,500reportedItem 5.H
Wrap fee program
participatesreportedItem 5.I
Ownership
a bank, bancorp or trust company is a 50 percent or greater ownerderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • is a broker-dealer (6.A.1)
  • is an insurance broker or agent (6.A.6)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$12B95%
  • High-net-worth individuals$359M2.8%
  • Corporations and businesses$303M2.4%
Individual clients
60,118reported
HNW clients
44reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
60,545reported
Financial planning clients
18,500reported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
noreported
Compensation
% of AUMreported
Class basis
private_client_share=0.98 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=456.0derived
Advisors registered through the firm
708 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Mary O CollinsJohnston, Ri Jan 8, 199931 y0
Charles Gilbert KunzelmanCertified Financial PlannerEast Haven, Ct Apr 16, 200127 y0
Hinesh R ModiConshohocken, Pa Apr 10, 200327 y0
Daniel R LavezoliPittsburgh, Pa May 1, 200326 y0
William John KellerLansdale, Pa May 7, 200326 y0
Michael Patrick MckeeverConshohocken, Pa May 7, 200327 y0
Ying Heng Liang StickelBensalem, Pa Sep 5, 200327 y0
Matthew Douglas LordCertified Financial PlannerWoburn, Ma Dec 14, 200426 y1
Brian Scott ValcourtJohnston, Ri Mar 6, 200621 y0
David William NemecekMonroeville, Pa Jul 25, 200636 y0
Brian Philip HaynerRochester, Ny Sep 26, 200636 y0
David Jay ColwellAlliance, Oh Nov 1, 200629 y0
Gabriel Nicholas DefeoLincoln, Ri Dec 13, 200628 y2
John William FosterCertified Financial PlannerW. Roxbury, Ma Mar 27, 200729 y0
David B CrissWestlake, Oh May 16, 200720 y0
Michael Stephen LeoneWoburn, Ma Oct 5, 200732 y2
Darlene Simard DicksonCertified Financial PlannerWoburn, Ma Feb 12, 200828 y2
Joshua Perry DavisCertified Financial PlannerE. Providence, Ri Mar 10, 200829 y2
Nita D AminRichboro, Pa May 16, 200826 y0
Kevin Reigh ShopeBoardman, Oh Jun 19, 200821 y2
Towera Vanessa GondweWestwood, MaJul 18, 200824 y0
Joshua David GiulianoCertified Financial PlannerJohnston, Ri Mar 26, 200921 y1
Eric John DochertyWarrendale, Pa May 1, 200928 y1
Jayson Laurence SpringCertified Financial PlannerWoburn, Ma May 7, 200929 y2
Michael SantifortConshohocken, PaJun 16, 200924 y1
Steven Douglas WilliamsReading, Pa Jul 9, 200928 y0
John Joseph AlessiMilton, Ma Sep 8, 200927 y3
Colleen M DonahueJohnston, RiNov 2, 200930 y1
Nathan Andrew KaufmanCertified Financial PlannerWestlake, Oh Nov 12, 200924 y2
Zane Jason MichalskiConshohocken, Pa Dec 23, 200928 y1
Jeremy Matthew LathropGoffstown, Nh Mar 11, 201023 y3
Travis James SousaFairhaven, Ma Mar 31, 201021 y2
John Walter RekasieWarrendale, Pa Jun 23, 201020 y5
Robert Edward JeanRaymond, Nh Jun 23, 201035 y2
Terri Spetrini HarbourLincoln, Nh Jun 28, 201023 y4
David Donald KarbonCertified Financial PlannerRocky River, Oh Aug 25, 201020 y0
Michael Joseph HagenianLivonia, Mi Sep 21, 201030 y0
Eric Anthony TunstallN. Smithfield, Ri Jan 20, 201118 y1
Joseph Francis ZancaBraintree, Ma Apr 18, 201135 y1
Lauren Elizabeth CunninghamWestwood, Ma Oct 17, 201117 y1
All 708 advisors at Citizens Securities, Inc.
Advisor movement
51 left, 91 joined in 12 months
net +40 in 12 months15 left in 90 days28 joined in 90 daysdeparture rate 6.5% of current headcount201 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
Teams outTeams in
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Chad Arnold · Coo Wealth, Executive Vice Presidentcontrol
    since 02/2023 · owns less than 5%
  • Kevin John Carvalho · Chief Financial Officercontrol
    since 06/2016 · owns less than 5%
  • Michael Cherny · Head Of Citizens Securities, Inc.control
    since 03/2024 · owns less than 5%
  • David Howard Shore · Chief Compliance Officercontrol
    since 10/2018 · owns less than 5%
Entity owners
  • Citizens Bank, N.A. · Direct Ownership
    direct · owns 75% or more · public reporting company
  • Citizens Financial Group, Inc. · Direct Shareholder
    indirect · owns 75% or more of Citizens Bank, N.A. · public reporting company
Related persons
Schedule D 7.A
Advisers that list Citizens Securities, Inc. as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Johnston, Ri · principal214306
Conshohocken, Pa149392
Syracuse, Ny104260
Westwood, Ma7684
Albany, Ny611121
Woburn, Ma5024
Monroeville, Pa5061
Rocky River, Oh4480
Alliance, Oh4150
West Palm Beach, Fl38153
New York, Ny2891
Pittsburgh, Pa2431
San Francisco, Ca1820
Boston, Ma1420
Rochester, Ny1330
Philadelphia, Pa1210
Providence, Ri1100
Tarrytown, Ny1102
Cranston, Ri1011
Brooklyn, Ny951
All 60 offices
Offices
Schedule D 1.F, the 25 largest
  • Fort Washington, PA90 employees
  • Hudson, NH72 employees
  • West Palm Beach, FL68 employees
  • Syracuse, NY59 employees
  • Monroeville, PA52 employees
  • Albany, NY51 employees
  • Fairlawn, OH38 employees
  • Woburn, MA38 employees
  • Rocky River, OH28 employees
  • Clinton Township, MI22 employees
  • Pittsburgh, PA18 employees
  • Columbus, OH17 employees
  • Hudson, MA14 employees
  • Johnston, RI13 employees
  • Irving, TX12 employees
  • New York, NY9 employees
  • Pittsburgh, PA7 employees
  • San Francisco, CA7 employees
  • Philadelphia, PA6 employees
  • Naples, FL6 employees
  • Boston, MA5 employees
  • Northfield, OH5 employees
  • Boston, MA5 employees
  • Southfield, MI5 employees
  • Warrendale, PA4 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
  • low discretionary shareStatic outlier · filing Sep 3, 2026
    discretionary share of RAUM of 0% against a peer median of 88% (53 comparable advisers, 0.0th percentile, 5.1 robust deviations)
    peers: affiliated wealth managers, $5B to $20B (53) · 0.0% percentile
How anomalies are measured
What changed
consecutive filings, newest first
  • Financial planning clients · More than 500 to More than 500
    Apr 14, 2026 to Sep 3, 2026
  • Succession · false to unset
    Apr 14, 2026 to Sep 3, 2026
  • Accounts · 53,044 to 60,545
    Jan 27, 2026 to Mar 31, 2026
  • Advisory employees · 400 to 454
    Jan 27, 2026 to Mar 31, 2026
  • BD registered reps · 401 to 456
    Jan 27, 2026 to Mar 31, 2026
  • Corporate clients · 235 to 383
    Jan 27, 2026 to Mar 31, 2026
  • HNW clients · 10 to 44
    Jan 27, 2026 to Mar 31, 2026
  • Individual clients · 52,799 to 60,118
    Jan 27, 2026 to Mar 31, 2026
  • Employees · 418 to 471
    Jan 27, 2026 to Mar 31, 2026
  • State-registered IARs · 400 to 454
    Jan 27, 2026 to Mar 31, 2026
  • Other offices · 1,022 to 993
    Jan 27, 2026 to Mar 31, 2026
  • HNW RAUM · $63.9M to $359M
    Jan 27, 2026 to Mar 31, 2026
  • Individual RAUM · $9.0B to $12B
    Jan 27, 2026 to Mar 31, 2026
  • Non-discretionary RAUM · $9.2B to $13B
    Jan 27, 2026 to Mar 31, 2026
  • RAUM · $9.2B to $13B
    Jan 27, 2026 to Mar 31, 2026
  • Financial planning clients · More than 500 to More than 500
    May 7, 2025 to Jun 23, 2025
  • Accounts · 47,222 to 53,044
    Mar 15, 2024 to Feb 13, 2025
  • Advisory employees · 380 to 400
    Mar 15, 2024 to Feb 13, 2025
  • BD registered reps · 613 to 401
    Mar 15, 2024 to Feb 13, 2025
  • Corporate clients · 169 to 235
    Mar 15, 2024 to Feb 13, 2025
  • HNW clients · 5 to 10
    Mar 15, 2024 to Feb 13, 2025
  • Individual clients · 47,048 to 52,799
    Mar 15, 2024 to Feb 13, 2025
  • Employees · 613 to 418
    Mar 15, 2024 to Feb 13, 2025
  • State-registered IARs · 380 to 400
    Mar 15, 2024 to Feb 13, 2025
  • Other offices · 1,059 to 1,022
    Mar 15, 2024 to Feb 13, 2025
  • HNW RAUM · $33.7M to $63.9M
    Mar 15, 2024 to Feb 13, 2025
  • Individual RAUM · $7.2B to $9.0B
    Mar 15, 2024 to Feb 13, 2025
  • Non-discretionary RAUM · $7.3B to $9.2B
    Mar 15, 2024 to Feb 13, 2025
  • RAUM · $7.3B to $9.2B
    Mar 15, 2024 to Feb 13, 2025
  • Accounts · 47,802 to 47,222
    Dec 21, 2023 to Mar 15, 2024
  • Corporate clients · 170 to 169
    Dec 21, 2023 to Mar 15, 2024
  • Individual clients · 47,627 to 47,048
    Dec 21, 2023 to Mar 15, 2024
  • HNW RAUM · $30.4M to $33.7M
    Dec 21, 2023 to Mar 15, 2024
  • Individual RAUM · $6.9B to $7.2B
    Dec 21, 2023 to Mar 15, 2024
  • Non-discretionary RAUM · $7.0B to $7.3B
    Dec 21, 2023 to Mar 15, 2024
  • RAUM · $7.0B to $7.3B
    Dec 21, 2023 to Mar 15, 2024
  • Wrap assets (sponsor) · $7.0B to $0
    Dec 21, 2023 to Mar 15, 2024
  • Accounts · 45,032 to 47,802
    Apr 19, 2022 to Mar 17, 2023
  • Advisory employees · 390 to 380
    Apr 19, 2022 to Mar 17, 2023
  • Advisory activities · 3 to 4
    Apr 19, 2022 to Mar 17, 2023
Signals
60 dated events
  • Scott Kluge registered as an investment adviser representative at Citizens Securities, Inc.
    Sep 16, 2026 · Advisor registered · fact
  • Jasmine Laurel Britton no longer holds an investment adviser registration (last listed at Citizens Securities, Inc. on the 2026-09-16 feed)
    Sep 16, 2026 · Advisor registration ended · derived
  • Luisa Salazar no longer holds an investment adviser registration (last listed at Citizens Securities, Inc. on the 2026-09-16 feed)
    Sep 16, 2026 · Advisor registration ended · derived
  • Michael Thomas Shanley added a AR registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Michael Thomas Shanley added a CA registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Michael Thomas Shanley added a NC registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Michael Thomas Shanley added a PA registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Kenneth R Roque added a RI registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Samia Tony Elias added a CA registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Samia Tony Elias added a NC registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Sara Al-Obaidi added a FL registration at Citizens Securities, Inc.
    Sep 16, 2026 · New state registration · fact
  • Silvi Sinoimeri added a FL registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Samia Tony Elias added a GA registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Samia Tony Elias added a ME registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a GA registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a IA registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a MO registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a NE registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a NJ registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a NM registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a TX registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Michael Thomas Shanley added a WI registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Rafael Antonio Garcia Filpo added a NJ registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Teddy Ruchai added a NJ registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Anubhav Bhatyal added a NJ registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Anubhav Bhatyal added a NY registration at Citizens Securities, Inc.
    Sep 15, 2026 · New state registration · fact
  • Alexis Zang Huang registered as an investment adviser representative at Citizens Securities, Inc.
    Sep 14, 2026 · Advisor registered · fact
  • Brian Fee no longer holds an investment adviser registration (last listed at Citizens Securities, Inc. on the 2026-09-14 feed)
    Sep 14, 2026 · Advisor registration ended · derived
  • James M Merello registered as an investment adviser representative at Citizens Securities, Inc.
    Sep 14, 2026 · Advisor registered · fact
  • Sara Al-Obaidi registered as an investment adviser representative at Citizens Securities, Inc.
    Sep 14, 2026 · Advisor registered · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
Firm profile
linkedin.com/company/citizens-private-wealthreportedpublic record, Form ADV, Sep 17, 2026
Firm profile
linkedin.com/company/citizens-wealth-managementreportedpublic record, Form ADV, Sep 17, 2026
Website
CITIZENSBANK.COMreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
1-800-942-8300reportedpublic record, Form ADV, Sep 3, 2026
Provenance
Form ADV
SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors
IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class
Broker-dealer affiliated wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$16.5Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026