Legg Mason Investment Counsel, LLC

Legg Mason Investment Counsel is an investment management firm based out of Baltimore. The company was formerly known as Legg Mason Trust before changing its name to its current Legg Mason Investment Counsel. Legg Mason Investment Counsel, as of 2014, has officially changed its name again to 1919 Investment Counsel and has become a part of Stifel Financial Corp. The company can trace its history back to Scudder, Stevens & Clark, a pioneering in the investment counsel industry established by Theodore Scudder in 1923. The original company would grow and add a series of locations in the 1920s including an office in New York, Cincinnati, and Philadelphia. The current Legg Mason Investment Counsel can also trace its history back to 1992 when its predecessor Legg Mason Trust Company was established by its original parent company Legg Mason Inc. The company would then become Legg Mason Investment Counsel when it merged with Scudder Private Investment Counsel, what the original Scudder, Stevens & Clark company became, and Legg Mason Trust in 2004. The current company is headed by CEO Harry O’Mealia and has grown to have over 100 employees. 1919 Investment Counsel & Trust Company has grown to have locations in Philadelphia, Cincinnati, Chicago, and New York. The company conducts its research both internally and externally, utilizing a fundamental methodology to make its investment decisions. 1919 Investment Counsel & Trust invests most heavily in the financial sector, which alone makes up almost a fifth of its total asset allocations, and also invests in the services, technology, health care, energy, and consumer noncyclical sectors, among others to a lesser degree, in order of decreasing allocation. The company holds over $8 billion spread across over 2,900 accounts, almost all of which are discretionary. 1919 Investment Counsel & Trust mainly caters to high net worth individuals and individuals, each making up approximately a third of its total clientele.