Briggs Wealth Management, Inc. (Glastonbury)

Name: Briggs Wealth Management, Inc.
Address: 59 Sycamore Street, Glastonbury, CT, 06033
Telephone: 860-633-8988

Briggs Wealth Management, Inc. is a large advisory firm based in Glastonbury. It manages $144.88 million of regulatory assets for 581 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdiction of Connecticut.

Briggs Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and consulting; tax preparation. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Briggs Wealth Management: assets under management

The assets under management (AUM) of Briggs Wealth Management, Inc. is $144.88 million. The firm's AUM has grown by 12% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $95.77 million in discretionary accounts and $49.11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $220.68 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $334.08 thousand.

Briggs Wealth Management has custody of $16.62 million in cash and securities for 38 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 65% of the total AUM. The second-largest asset type is government bonds, which make up 15% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Briggs Wealth Management, Inc. 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 Briggs Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Briggs Wealth Management is high net worth individuals with 72 clients and $123.15 million of assets under management. Among the 8 most similar advisory firms, Briggs Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $144.88 million for 104 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.

Briggs Wealth Management doesn't advise any private funds.

Careers at Briggs Wealth Management, Inc.

The company employs 5 people that are either part- or full-time employees. 20 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mark Vincent Briggs	Managing member/chief compliance officer	1 Aug 2000	75% - 100%	2898839

Based in Glastonbury

The principal office where Briggs Wealth Management, Inc. performs its advisory services is located at 59 Sycamore Street, Glastonbury, CT 06033, 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 860-633-8988 or by fax 860-657-4878. The normal business hours are 8:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at briggswealthmgmt.com.