Ironwood Investment Management, LLC (Boston)

Name: Ironwood Investment Management, LLC
Address: 67 Batterymarch Street, Boston, MA, 02110
Telephone: 617-757-7600

Ironwood Investment Management, LLC is a large advisory firm based in Boston. It manages $147.36 million of regulatory assets for 220 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

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

Ironwood Investment Management: assets under management

The assets under management (AUM) of Ironwood Investment Management, LLC is $147.36 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -67% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $147.36 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $669.8 thousand each.

Ironwood Investment Management has custody of $12.45 million in cash and securities for 23 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 91% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 9% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ironwood Investment Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Lester Pollack serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Lester Pollack is high net worth individuals with 199 clients and $130.61 million of assets under management. Among the 7 most similar advisory firms, Ironwood Investment Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $130.62 million for 200 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.

Ironwood Investment Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Ironwood Investment Management, LLC

The company employs 7 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. No 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.

Lester Pollack has been acting as President since 1 Jan 2006. Shantelle Reidy joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Warren John Isabelle	Managing member	1 Aug 1997	25% - 50%	2152550
Gary Scott Saks	Chief compliance officer, chief financial officer	1 Aug 1997	Other	2127053
Donald Collins	Senior portfolio manager	1 Nov 1998	Other	858475
Mark Evan Bloom	Director, chief operating officer	1 Jan 2006	Other	2248199
Robert Barry Machinist	Director, chief executive officer	1 Jan 2006	Other	822718
Lester Pollack	Director	1 Jan 2006	Other	365207
William M Tomai	Director	1 Jan 2006	Other	2379261
Paul Benjamin Grosscup	Director	1 Jan 2006	Other	230939
Thomas Nathaniel Barr	Director	1 Jan 2006	Other	1841229
Christine Munn	Director	1 Jan 2006	Other	1702740
Mb Investment Partners And Associates Llc	Shareholder	1 Jan 2006	75% - 100%	81-0655036
Charles James Daly	Chief compliance officer	1 Dec 2006	Other	5259860
Donald Collins	Managing member	1 Apr 2008	50% - 75%	858475
Michael David Jamison	Director	1 Apr 2008	Other	1204463
Guillaume Marie Bebear	Director	1 May 2008	Other	2264851
Shantelle Reidy	Chief compliance officer	1 Feb 2010	Other	5757860
John Barnett	Chief compliance officer	1 Feb 2010	Other	5757860
Shantelle Reidy	Chief compliance officer	1 Jun 2014	Other	5757860

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Centre Mb Holdings	Member	1 Aug 2004	50% - 75%	20-1297702
Centre Pacific Holdings	Member	1 Aug 2004	50% - 75%	95-4775904
Llc Centre Capital Investors Iii	Member	1 Aug 2004	75% - 100%	06-1567769

Based in Boston

The principal office where Ironwood Investment Management, LLC performs its advisory services is located at 67 Batterymarch Street, 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 617-757-7600 or by fax 617-757-7605. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at ironwoodinvestmentmanagement.com.