Welch & Forbes LLC is a large advisory firm based in Boston. It manages $4.59 billion of regulatory assets for 2,762 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Colorado, Connecticut, and 16 other states.
Welch & Forbes provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Welch & Forbes LLC is $4.59 billion. The firm's AUM has grown by 13% since the beginning of its operation, and $110.56 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Welch & Forbes LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, other investment advisers, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of John Hughes Emmons is high net worth individuals with 447 clients and $3.86 billion of assets under management. Among the 6 most similar advisory firms, Welch & Forbes has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $4.59 billion for 764 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.
Welch & Forbes also advises several private funds. Namely, eight private equity funds. The minimum investment commitment required of non-related persons is $10,000 for each fund.
The company employs 55 people that are either part- or full-time employees. 24 percent of the employees work as investment advisers or researchers. No 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
John Hughes Emmons has been acting as President since 1 Oct 2010. Oliver Ames Spalding joined the executive team most recently as the Executive Vice President.
The principal office where Welch & Forbes LLC performs its advisory services is located at 45 School Street, Boston, MA 02108, 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 617-523-1635 or by fax 617-742-6243. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at welchforbes.com.