Wellesley Investment Partners, LLC (Wellesley)

Name: Wellesley Investment Partners, LLC
Address: 75 Central Street, Wellesley, MA, 02482
Telephone: 781-431-1325

Wellesley Investment Partners, LLC is a large advisory firm based in Wellesley. It manages $409.92 million of regulatory assets for 533 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Connecticut, Florida, Maine, and 3 other states.

Wellesley Investment Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wellesley Investment Partners: assets under management

The assets under management (AUM) of Wellesley Investment Partners, LLC is $409.92 million. The firm's AUM has grown by 15850% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $342.32 million in discretionary accounts and $67.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $645.88 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $22.54 million.

Wellesley Investment Partners has custody of $43.35 million in cash and securities for 45 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 21% of the firm’s portfolio. Investments in government bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Wellesley Investment Partners, 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 Louis Pyle Crosier serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Louis Pyle Crosier is high net worth individuals with 125 clients and $295.98 million of assets under management. Among the 6 most similar advisory firms, Wellesley Investment Partners has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $409.92 million for 229 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.

Wellesley Investment Partners doesn't advise any private funds.

Careers at Wellesley Investment Partners, LLC

The company employs 12 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. 7 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.

Louis Pyle Crosier has been acting as President since 1 Sep 2014. Richard Alfred Sipley has served as the Chief Investment Officer since 1 Oct 2014. Jeremy Scott Glenn joined the executive team most recently as the Chief Compliance Officer/Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Wellesley Bank	Managing member	1 Jun 2007	75% - 100%	04-1956610
Inc. Thomas Partners	Member	1 Jun 2007	25% - 50%	04-2489016
Thomas Joseph Fontaine	President	1 Jun 2007	Other	5412613
Edwin Gerard Silver	Chairman	1 Jun 2007	Other	5412614
Gregory Nelson Thomas	Chief investment officer	1 Jun 2007	Other	445150
William Patrick Mcmahon	Chief operating officer	1 Jun 2007	Other	4280588
Gerald Robert Mueller	Chief compliance officer	1 Jun 2007	Other	2469252
Inc. Wellesley Bancorp	Managing member	1 Jun 2007	75% - 100%	04-1956610
Jeffrey Charles Smith	Chief investment officer	1 Dec 2009	Other	4163198
Christopher Karl Gaffney	Vice president-financial advisor	1 Mar 2011	Other	2896156
William Joseph Cadigan	President	1 Jan 2012	Other	843515
William Joseph Cadigan	President	1 Feb 2012	Other	843515
Thomas Joseph Fontaine	Chairman of the board	1 Feb 2012	Other	5412613
John H Biebel	Director, wealth advisor	1 Nov 2013	Other	2857855
Mary Beth Mahoney	Managing director	1 Mar 2014	Other	6039278
Marybeth Mahoney	Managing director	1 Mar 2014	Other	6039278
Matthew Wood Johnson	Director, wealth advisor	1 Mar 2014	Other	6319748
Louis Pyle Crosier	President	1 Sep 2014	Other	3107747
Dawn Marie Baillie	Chief compliance officer	1 Sep 2014	Other	1637582
Trevor Scott Gailun	Director of research and trading	1 Sep 2014	Other	3265997
Richard Alfred Sipley	Chief investment officer	1 Oct 2014	Other	2626222
Jeffrey A Oberg	Chief operating officer	1 Oct 2014	Other	1542799
Jeffrey A Oberg	Senior managing director	1 Jan 2015	Other	1542799
Jeremy S Glenn	Director of operations	1 Jan 2015	Other	5746310
Jeremy S Glenn	Chief operating officer	1 Jan 2016	Other	5746310
Charles Savage Willauer	Senior managing director	1 Aug 2016	Other	4431267
Charles S Willauer	Senior managing director	1 Aug 2016	Other	4431267
Jeremy Scott Glenn	Chief compliance officer/chief operating officer	1 Jul 2017	Other	5746310
Jeremy S Glenn	Chief compliance officer/chief operating officer	1 Jul 2017	Other	5746310

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Gregory Nelson Thomas	President/ceo	1 Jun 2001	50% - 75%	445150
Wellesley Bank	Parent company	1 Jul 2007	75% - 100%	04-1956610
Inc. Wellesley Bancorp	Parent company	1 Jan 2012	75% - 100%	45-3219901

Based in Wellesley

The principal office where Wellesley Investment Partners, LLC performs its advisory services is located at 75 Central Street, Wellesley, MA 02482, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 781-431-1325 or by fax 781-489-4557. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at wslyip.com.