Baystate Wealth Management LLC (Boston)

Name: Baystate Wealth Management LLC
Address: 200 Clarendon Street, Boston, MA, 02116
Telephone: 617-982-5200

Baystate Wealth Management LLC is a large advisory firm based in Boston. It manages $1.11 billion of regulatory assets for 2,715 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Arizona, California, Connecticut, and 19 other states.

Baystate Wealth Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Baystate Wealth Management: assets under management

The assets under management (AUM) of Baystate Wealth Management LLC is $1.11 billion. The firm's AUM has grown by 73913% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.06 billion in discretionary accounts and $52.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $405.87 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $481.6 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 56% of the total AUM. The second-largest asset type is other assets, which make up 33% of the firm’s portfolio. Investments in non-exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Baystate Wealth Management LLC for their services and products based on a percentage of assets under management. 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 Baystate Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Baystate Wealth Management is individuals with 2,621 clients and $735.46 million of assets under management. Among the 9 most similar advisory firms, Baystate Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.11 billion for 2,715 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.

Baystate Wealth Management doesn't advise any private funds.

Careers at Baystate Wealth Management LLC

The company employs 12 people that are either part- or full-time employees. 58 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Thomas Neal O'connor	Managing member	1 Sep 2009	25% - 50%	4374733
David Craig Porter	Managing member	1 Sep 2009	25% - 50%	1215228
Susana (Mnm) Ngan	Chief compliance officer	1 Sep 2009	Other	4127655
Michael Alan Yoken	Chief operating officer/secretary	1 Sep 2009	Other	2010854
Susana Ngan	Chief compliance officer	1 Sep 2009	Other	4127655
Gregory Jude Pinto	Managing member	1 Jan 2011	25% - 50%	2125752
Joshua Townsend Pierce	Director of research	1 Jan 2013	Other	4715301
John Patrick Cogswell	Chief market strategist	1 Jan 2013	Other	2674161
Jill Christine Ledgewood	Chief compliance officer	1 Jul 2016	Other	5065566

Based in Boston

The principal office where Baystate Wealth Management LLC performs its advisory services is located at 200 Clarendon Street, Boston, MA 02116, 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 617-982-5200 or by fax 617-431-1285. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at baystatewealth.com.