Boston Financial Management LLC (Boston)

Name: Boston Financial Management LLC
Address: 255 State Street, Boston, MA, 02109
Telephone: 617-338-8108

Boston Financial Management LLC is a large advisory firm based in Boston. It manages $2.2 billion of regulatory assets for 2,033 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, California, Colorado, and 23 other states.

Boston Financial Management provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Boston Financial Management: assets under management

The assets under management (AUM) of Boston Financial Management LLC is $2.2 billion. The firm's AUM has grown by 83% since the beginning of its operation, and $71.38 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.15 billion in discretionary accounts and $46.62 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.07 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.91 million.

Boston Financial Management has custody of $2.12 billion in cash and securities for 730 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 16% of the firm’s portfolio. Investments in investment and business development companies form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Boston Financial Management LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Richard Tudor Morse serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Tudor Morse is high net worth individuals with 472 clients and $1.86 billion of assets under management. Among the 7 most similar advisory firms, Boston Financial Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.13 billion for 764 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Boston Financial Management doesn't advise any private funds.

Careers at Boston Financial Management LLC

The company employs 40 people that are either part- or full-time employees. 48 percent of the employees work as investment advisers or researchers. 16 employees are registered as investment adviser representatives with the state securities authorities.

There are 12 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Richard Tudor Morse has been acting as President since 1 Sep 2014. Abigail Marr Psyhogeos joined the executive team most recently as the Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Sanders Goldthwait	Managing director	1 Mar 2003	Other	4393458
Alan Thomas Macdonald	Managing director	1 Mar 2005	Other	4393751
Edward Frank Glesmann	Managing director	1 Aug 2009	Other	5719111
Theodore Manuel Shediac	Managing director	1 Jan 2011	Other	4165098
Kenneth Michael Fischer	Managing director	1 Jul 2013	Other	6255765
David Joseph Duval	Managing director	1 Sep 2014	Other	1742173
Lawrence Ian Kahn	Managing director	1 Sep 2014	Other	5423275
Timothy James Farina	Assistant vice president	1 Sep 2014	Other	6401829
Richard Tudor Morse	Director	1 Sep 2014	Other	5818231
Richard Harding Morse	Chairman and elected manager	1 Jan 2016	50% - 75%	601380
Charles Thomas Casazza	Managing director and chief market strategiest	1 Jan 2016	Other	817587
Susan Gaukler Zimmerman	Managing director, member	1 Jan 2016	Other	4393549
Geoffry Adolphe Juviler	Managing director, member	1 Jan 2016	Other	2137134
Carol Ann Cusson	Controller, member	1 Jan 2016	Other	5024514
Dana Farrell Clark	Managing director, member	1 Jan 2016	Other	4743363
Karen Rose Bottar	Managing director, member	1 Jan 2016	Other	2194616
Janell Phillips	Managing director, member	1 Jan 2016	Other	2378496
Michael Lawrence Brown	President, director, member and elected manager	1 Jan 2016	Other	4512650
Jonathan D Lynch	Vice president, member	1 Jan 2016	Other	4660067
Brad Michael Weafer	Chief investment officer, member	1 Jan 2016	Other	6123374
Charles J Zambri	Chief compliance officer, member	1 Jan 2016	Other	6527705
Richard H. Morse 1997 Trust	Member	1 Jan 2016	50% - 75%	xxx-xx-xxxx
Bradford Gardner	Vice chairman and managing director, member	1 Apr 2016	Other	2441759
Clarence Hopkins King	Managing director, member	1 Apr 2016	Other	2103936
Stacy Austin Reinhart	Managing director, member	1 Apr 2016	Other	718888
Michael Burke Stephens	Vice president, member	1 Apr 2016	Other	5119436
Brian J. Walsh	Managing director	1 Feb 2018	Other	4712643
Abigail Marr Psyhogeos	Managing director	1 Jul 2018	Other	1808284

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Richard Harding Morse	Trustee	1 Nov 1997	Other	601380

Based in Boston

The principal office where Boston Financial Management LLC performs its advisory services is located at 255 State Street, Boston, MA 02109, which is also the mailing address of the firm. An additional office of the firm is in Portland, ME. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-338-8108 or by fax 617-338-4079. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at bfminvest.com.