Boston Harbor Wealth Advisors, LLC (Acton)

Name: Boston Harbor Wealth Advisors, LLC
Address: 289 Great Road, Acton, MA, 01720
Telephone: (978) 767-8667

Boston Harbor Wealth Advisors, LLC is a large advisory firm based in Acton. It manages $379.92 million of regulatory assets for 2,005 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Arizona, California, Connecticut, and 11 other states.

Boston Harbor Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Boston Harbor Wealth Advisors: assets under management

The assets under management (AUM) of Boston Harbor Wealth Advisors, LLC is $379.92 million. The firm's AUM has grown by 265% since the beginning of its operation, and $1.24 million of the total AUM is attributable to clients outside of the United States.

The firm manages $374.42 million in discretionary accounts and $5.5 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $197.06 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $52.35 thousand.

Boston Harbor Wealth Advisors has custody of $1.81 million in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 60% of the total AUM. The second-largest asset type is exchange traded securities, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Boston Harbor Wealth Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Boston Harbor Wealth Advisors serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Boston Harbor Wealth Advisors is individuals with 937 clients and $222.05 million of assets under management. Among the 8 most similar advisory firms, Boston Harbor Wealth Advisors has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $379.92 million for 1,024 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.

Boston Harbor Wealth Advisors doesn't advise any private funds.

Careers at Boston Harbor Wealth Advisors, LLC

The company employs 32 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 20 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
Ryan David Hendrickson	Member, principal and chief compliance officer	1 Dec 2015	50% - 75%	5235332
Matthew Alton Davis	Member, principal	1 Dec 2015	50% - 75%	4667592

Based in Acton

The principal office where Boston Harbor Wealth Advisors, LLC performs its advisory services is located at 289 Great Road, Acton, MA 01720, which is also the mailing address of the firm. An additional office of the firm is in Rockland, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (978) 767-8667 or by fax (617) 371-0693. The normal business hours are 9am -5pm est on Monday - Friday. You can find more information about the New York firm at bostonharborwealth.com.