Mg Financial LLC (Braintree)

Name: Mg Financial LLC
Address: 30 Braintree Hill Office Park, Braintree, MA, 02184
Telephone: 781-848-1163

Mg Financial LLC is a large advisory firm based in Braintree. It manages $1.01 billion of regulatory assets for 114 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Massachusetts.

Mg Financial provides financial planning services, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mg Financial: assets under management

The assets under management (AUM) of Mg Financial LLC is $1.01 billion. The firm's AUM has grown by 43% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $972.86 million in discretionary accounts and $35.7 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8.69 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $17.85 million.

Mg Financial has custody of $788.53 million in cash and securities for 103 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 47% of the total AUM. The second-largest asset type is investment and business development companies, which make up 21% of the firm’s portfolio. Investments in state and local bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mg Financial LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Mg Financial serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Mg Financial is high net worth individuals with 65 clients and $920.31 million of assets under management. Among the 6 most similar advisory firms, Mg Financial has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.01 billion for 112 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.

Mg Financial also advises several private funds. Namely, one hedge fund, eight private equity funds, and two securitized asset funds. The minimum investment commitment required of non-related persons ranges from $100,000 to $500,000.

Careers at Mg Financial LLC

The company employs 7 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. No 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mary Elizabeth Gilligan	Principal and chief compliance officer	1 Nov 2001	75% - 100%	1349564
John Fitzgerald	Member	1 Nov 2001	Other	2958946

Based in Braintree

The principal office where Mg Financial LLC performs its advisory services is located at 30 Braintree Hill Office Park, Braintree, MA 02184, 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 781-848-1163 or by fax 781-848-1119. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at mgfinancial.com.