General Firm Overview
The Cynosure Group, LLC (“Cynosure” or the “Firm”), is a Utah limited liability company formed in 2015
and is registered with the SEC as an investment adviser, with its principal office in Salt Lake City, Utah, and
places of business in the following states: California, Florida, Illinois, Massachusetts, New Jersey, and New
York. Cynosure is principally owned by The Randal Quarles and Hope Eccles Family Trust and Spencer P.
Eccles each owning more than 25%.
Cynosure offers advisory services in the following four divisions: Cynosure Capital Management, Cynosure
Partners, Cynosure Wealth Advisors, and Cynosure Strategies.
As of December 31, 2023, The Cynosure Group collectively managed approximately $4,862,981,883 in
discretionary assets and $143,761,985 in non-discretionary assets across all three divisions. Launched on
February 1, 2024, Cynosure Strategies’ AUM is not reflected in these figures.
The following sections of this brochure relate solely to Cynosure Wealth Advisors. Each other division is
described in greater detail in their own Brochure, which are available online at
adviserinfo.sec.gov/firm/summary/281399.
Cynosure Wealth Advisors
Assets Under Management
As of December 31, 2023, CWA managed approximately $887,972,750 in discretionary assets and
$143,761,985 in non-discretionary assets.
Wealth Management Services
In 2023, Cynosure established a new investment advisory practice, Cynosure Wealth Advisors (“CWA”),
that provides Portfolio Advisory, Integrated Financial Planning, Consolidated Reporting, and Investment
Consulting to high-net worth families and individuals, trusts, estates, family limited partnerships, family
offices, foundations, endowments, charitable organizations, corporations, and other business entities
(“Advisory Clients”).
This Brochure describes the portfolio advisory, financial planning, consolidated reporting, and/or
investment consulting services CWA offers to Advisory Clients that are described in greater detail below
(“Wealth Management Services”). In partnership with Advisory Clients, CWA assesses your investment,
planning, and reporting objectives and needs based on the information Advisory Client initially provides,
to determine which of CWA’s services, if any, are appropriate to recommend to the Advisory Client. CWA
seeks to tailor portfolio advisory, financial planning, consolidated reporting, and consulting services to the
Advisory Client’s individual needs. CWA encourages Advisory Clients to share their current financial
situation, needs, and objectives as well as changes in their financial and personal circumstances with CWA
so that appropriate recommendations can be made.
• Portfolio Advisory Services: CWA develops and implements a continuous investment program on
behalf of Advisory Clients with respect to their investment portfolio, including:
o The development of an investment program for the portfolio, determined in consultation
with the Advisory Client, based on an analysis of various factors, including, without
limitation, the Advisory Client’s investment goals, tax position, diversification
requirements, social concerns, and risk tolerance.
o Implementation of an investment program through allocation and rebalancing of the
Advisory Client’s investable assets of the investment portfolio that may include various
liquid and illiquid investment strategies through investments in the Advisory Client’s
managed account(s).
o Oversight and monitoring of an Advisory Client’s investment program, including portfolio
characteristics, cash flows, and risk, on an on-going basis and adjustment of the
same
from time-to-time in response to changing market conditions, Advisory Client
circumstances, or other factors.
Specific services that are available include the following:
o Current portfolio evaluation
o Assessment of investment objectives
o Investment policy objectives and financial goals
o Strategic asset allocation planning
o Manager search and evaluation
o Investment program implementation and rebalancing
o Portfolio monitoring and risk management
o Performance measurement and attribution analysis
• Integrated Financial Planning Services: CWA provides Advisory Clients with financial planning
services based upon the individual needs, goals, and objectives identified by the Advisory Client.
Specific services that are available include the following:
o Net worth analysis
o Retirement, cash flow and budget planning
o Insurance planning and risk management
o Liquidity and liability management
o Estate and wealth transfer planning
o Philanthropy and charitable gift planning
o Education planning
o Compensation and benefits analysis
o Select family office services
• Consolidated Reporting Services: CWA provides Advisory Clients with consolidated performance
reporting on liquid and illiquid assets, regardless of where held, which may or may not be advised
on by CWA as either assets under management (“AUM”) or assets under advisement (“AUA”).
• Investment Consulting Services: CWA provides certain non-discretionary Investment Consulting
Services to Advisory Clients with respect to their investment assets, regardless of where held, and
other financial matters. CWA’s recommendations may be implemented by Advisory Clients or
with other professional advisors of their choosing. In providing Investment Consulting Services,
CWA’ role is limited to that of a consultant and Advisory Clients are responsible for any investment
decisions with respect to their portfolio and other financial matters. Specific services include the
following:
o Investment Policy and Asset Allocation Solutions - Collaborate in the development of an
asset allocation framework aligned with the Advisory Client’s investment objectives and
risk tolerance.
o Analysis of Current Investment Program - Conduct a review of all existing investments,
considering the Advisory Client’s identified asset allocation, performance, and risk
objectives.
o Trading Strategy Advice - Offer research and recommendations regarding Advisory Client-
requested specialized securities trading activities (e.g., options, hedging), trading
individual securities, managing concentrated portfolios or positions, and other
customized situations.
o Investment Idea Generation - Introduce potential investment opportunities, such as
private equity or private investments, that align with the Advisory Client’s overall
investment framework.
o Customized Access and Services – Facilitate upon request, lending, custody, and related
services with banks, custodians, and other solution providers.
o Analysis of Investment Program with Estate Planning, Insurance and Overall Family
Planning Goals - Analyze Advisory Client investments and provide recommendations on
relevant financial and estate planning techniques.
o Consolidated Financial Reporting/Investment Monitoring - Provide Advisory Client with
consolidated periodic statements of financial holdings, including investment accounts,
retirement accounts, real estate holdings, and private investments (to the extent
available).
CWA provides these services in accordance with the terms of portfolio advisory, financial planning,
consolidated reporting, and/or investment consulting agreements applicable to each Client, collectively
referred to as “Wealth Management Agreements.”