Bay Harbor Wealth Management, LLC (Hunt Valley)

Name: Bay Harbor Wealth Management, LLC
Address: 201 International Circle, Hunt Valley, MD, 21030
Telephone: 4104032060

Bay Harbor Wealth Management, LLC is a large advisory firm based in Hunt Valley. It manages $131.62 million of regulatory assets for 1,167 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Florida, Maryland, Pennsylvania, Texas, and Virginia.

Bay Harbor Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Bay Harbor Wealth Management: assets under management

The assets under management (AUM) of Bay Harbor Wealth Management, LLC is $131.62 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $131.62 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $112.79 thousand each.

Bay Harbor Wealth Management has custody of $4.57 million in cash and securities for 54 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 89% of the total AUM. The second-largest asset type is state and local bonds, which make up 4% of the firm’s portfolio. Investments in investment grade corporate bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bay Harbor Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Lance Reid Scott serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Lance Reid Scott is high net worth individuals with 42 clients and $86.82 million of assets under management. Among the 8 most similar advisory firms, Bay Harbor Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $131.62 million for 250 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.

Bay Harbor Wealth Management doesn't advise any private funds.

Careers at Bay Harbor Wealth Management, LLC

The company employs 4 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 2 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lance Reid Scott	President/chief compliance officer	1 Aug 2018	75% - 100%	5608446

Based in Hunt Valley

The principal office where Bay Harbor Wealth Management, LLC performs its advisory services is located at 201 International Circle, Hunt Valley, MD 21030, 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 4104032060 or by fax 443-281-8377. The normal business hours are 9:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at twitter.com/bayharborwealth and its LinkedIn profile.