Boston Family Office LLC (Boston)

Name: Boston Family Office LLC
Address: 88 Broad St. (2 Nd Floor), Boston, MA, 02110
Telephone: 617-624-0800

Boston Family Office LLC is a large advisory firm based in Boston. It manages $1.17 billion of regulatory assets for 632 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Colorado, Connecticut, and 11 other states.

Boston Family Office provides portfolio management for individuals and small businesses, selection of other advisers, and trust & estate review & admin.. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Boston Family Office: assets under management

The assets under management (AUM) of Boston Family Office LLC is $1.17 billion. The firm's AUM has grown by 180% since the beginning of its operation, and $2.63 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.07 billion in discretionary accounts and $96.79 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.78 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.46 million.

Boston Family Office has custody of $1.11 billion in cash and securities for 282 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is state and local bonds, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Boston Family Office 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 David L. Richardson serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of David L. Richardson is high net worth individuals with 160 clients and $1.06 billion of assets under management. Among the 10 most similar advisory firms, Boston Family Office has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.17 billion for 284 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.

Boston Family Office doesn't advise any private funds.

Careers at Boston Family Office LLC

The company employs 15 people that are either part- or full-time employees. 60 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.

David L. Richardson has been acting as President since 1 Oct 1996. Peder Christian Johnson joined the executive team most recently as the Managing Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
George Putnam	Managing member	1 Aug 1996	25% - 50%	4355835
George Putnam Beal	Managing member	1 Oct 1996	Other	4359958
Richard Peterson Macklem	Vice president	1 Oct 1996	Other	1975627
David L. Richardson	President	1 Oct 1996	Other	4359982
Edward Winsor Weld	Dir.research	1 Oct 1996	25% - 50%	602984
Richard Angus West	V.p. & secretary	1 Jul 1999	Other	1789569
Eliza Hapgood Rowe	Managing member, treasurer	1 Jun 2000	Other	2251817
Pierre Ventur	Managing member	1 Nov 2000	Other	4359992
Pierre Eirch Venture	Portfolio manager	1 Nov 2000	Other	4359992
Michael James Unger	Managing member	1 Jan 2003	Other	4568484
Michael J Unger	Partner	1 Jan 2003	Other	4568484
Benjamin Crocker Lovell	Partner	1 Jan 2004	Other	1685416
Ronald Holstein Henderson	Partner	1 Sep 2006	Other	1834290
Edward Winsor Weld	Deceased	1 Nov 2006	25% - 50%	602984
Edwin D Everett	Partner	1 Jan 2007	Other	5291627
William Henry Claflin	Managing member	1 Sep 2007	Other	47194
Benjamin Taylor Richardson	Managing member, chief investment officer	1 Jul 2008	Other	5562033
Benjamin T Richardson	Partner	1 Jul 2008	Other	5562033
Christine A. Gst Trust Golemb	Member	1 Jan 2010	Other	20-7231090
Elizabeth Gst Trust Alexander	Member	1 Jan 2010	Other	20-7231102
Sarah A. Gst Trust Chase	Member	1 Jan 2010	Other	20-7231078
Andrew W. Gst Trust Weld	Member	1 Jan 2010	Other	20-7231163
Christopher B. Gst Trust Weld	Member	1 Jan 2010	Other	20-7231136
David A. Gst Trust Weld	Member	1 Jan 2010	Other	20-7231122
Timothy S. Gst Trust Weld	Member	1 Jan 2010	Other	20-7231148
Elizabeth Greer Candler	Managing member, chief compliance officer	1 May 2010	Other	4340586
Sherwood Thayer Small	Managing partner	1 Feb 2013	Other	426675
Megan Watson Siegal	Chief compliance officer, managing member	1 Jan 2016	Other	6624794
Peder Christian Johnson	Managing member	1 Feb 2016	Other	5276270

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Cameron Bright	Trustee	1 Jan 2010	Other	xxx-xx-xxxx
Alexander Weld	Trustee	1 Jan 2010	Other	xxx-xx-xxxx
Kathleen Weld	Trustee	1 Jan 2010	Other	xxx-xx-xxxx

Based in Boston

The principal office where Boston Family Office LLC performs its advisory services is located at 88 Broad St. (2 Nd Floor), Boston, MA 02110, 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 617-624-0800 or by fax 617-624-0801. The normal business hours are 9 a.m. - 5 p.m. on Monday - Friday. You can find more information about the New York firm at bosfam.com.