Aries Wealth Management, LLC (Portland)

Aries Wealth Management, LLC is a large advisory firm based in Portland. It manages $237.72 million of regulatory assets for 263 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Maine, Massachusetts, and New Hampshire.

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

Aries Wealth Management: assets under management

The assets under management (AUM) of Aries Wealth Management, LLC is $237.72 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 132% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $237.72 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $903.88 thousand each.

Aries Wealth Management has custody of $28.02 million in cash and securities for 21 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 70% of the total AUM. The second-largest asset type is investment and business development companies, which make up 11% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Aries Wealth Management, 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 Aries Wealth Management serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Aries Wealth Management is high net worth individuals with 48 clients and $214.75 million of assets under management. Among the 11 most similar advisory firms, Aries Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $237.72 million for 87 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.

Aries Wealth Management doesn't advise any private funds.

Careers at Aries Wealth Management, LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 3 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
Jason Gregory Viola	Chief compliance officer and managing member	1 Mar 2015	75% - 100%	4115594
Jason Gregory Viola	Chief compliance officer and managing member	1 Apr 2015	75% - 100%	4115594
Laurie Virginia Latham	Partner and investment adviser representative	1 Aug 2015	Other	728793

Based in Portland

The principal office where Aries Wealth Management, LLC performs its advisory services is located at 183 Middle Street, Portland, ME 04101, 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 207-536-0530. The normal business hours are 9 am to 5 pm on Monday - Friday.