New England Private Wealth Advisors, LLC (Wellesley)

Name: New England Private Wealth Advisors, LLC
Address: 36 Washington Street, Suite 280, Wellesley, MA, 02481 1922
Telephone: 781-416-1700

New England Private Wealth Advisors, LLC is a large advisory firm based in Wellesley. It manages $1.82 billion of regulatory assets for 2,337 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of California, Connecticut, Florida, and 4 other states.

New England Private 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 more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

New England Private Wealth Advisors: assets under management

The assets under management (AUM) of New England Private Wealth Advisors, LLC is $1.82 billion. The firm's AUM has grown by 1717% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.38 billion in discretionary accounts and $434.44 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $632.89 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.84 million.

New England Private Wealth Advisors has custody of $6.98 million in cash and securities for 8 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 52% of the total AUM. The second-largest asset type is exchange traded securities, which make up 27% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay New England Private Wealth Advisors, 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.

What kind of clients New England Private Wealth Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of New England Private Wealth Advisors is high net worth individuals with 223 clients and $1.15 billion of assets under management. Among the 11 most similar advisory firms, New England Private Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.81 billion for 290 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.

New England Private Wealth Advisors doesn't advise any private funds.

Careers at New England Private Wealth Advisors, LLC

The company employs 18 people that are either part- or full-time employees. 44 percent of the employees work as investment advisers or researchers. 7 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.

Melissa Griffin Boccaci joined the executive team most recently as the Senior Financial Advisor/Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Ira Gene Rapaport	Chief executive officer/managing member	1 Dec 2004	75% - 100%	3218098
Beth Rapaport	Chief financial officer	1 Dec 2004	Other	5357613
Karla Anne Paxton	Chief operating officer	1 Dec 2004	Other	4783881
Beth Rapaport	Chief financial officer	1 Dec 2006	Other	5357613
Jennifer K Votano	Chief compliance officer	1 Jun 2007	Other	4553168
Beth Searing Milkovits	Chief compliance officer	1 Jul 2008	Other	4856473
Jennifer K Votano	Senior financial officer/chief compliance officer	1 Mar 2009	Other	4553168
Melissa Griffin Boccaci	Senior financial advisor/chief compliance officer	1 Mar 2012	Other	4555001

Based in Wellesley

The principal office where New England Private Wealth Advisors, LLC performs its advisory services is located at 36 Washington Street, Suite 280, Wellesley, MA 02481 1922, 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 781-416-1700 or by fax 781-416-1718. The normal business hours are 8:30-5:30 on Monday - Friday. You can find more information about the New York firm at nepwealth.com.