Canton Hathaway LLC is a large advisory firm based in Providence. It manages $325.94 million of regulatory assets for 108 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Rhode Island.
Canton Hathaway provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Canton Hathaway LLC is $325.94 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 57% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Canton Hathaway LLC for their services and products based on a percentage of assets under management 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.
The firm provides services to individuals, high net worth individuals, corporations or other businesses, and state or municipal government entities. The largest group of clients of Canton Hathaway is individuals with 75 clients and $214.9 million of assets under management. Among the 12 most similar advisory firms, Canton Hathaway has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $325.94 million for 108 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.
Canton Hathaway also advises several private funds. Namely, two real estate funds. The minimum investment commitment required of non-related persons is $25,000 for each fund.
The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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.
The principal office where Canton Hathaway LLC performs its advisory services is located at One West Exchange Street, Providence, RI 02903, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 401-433-7800. The normal business hours are 8am-5pm on Monday - Friday.