Sandy Cove Advisors, LLC (Hingham)

Name: Sandy Cove Advisors, LLC
Address: 37 Derby Street, Suite 5, Hingham, MA, 02043
Telephone: 617-622-1500

Sandy Cove Advisors, LLC is a large advisory firm based in Hingham. It manages $190.25 million of regulatory assets for 447 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Massachusetts, New Hampshire, New York, and Vermont.

Sandy Cove Advisors provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and consolidated reporting. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sandy Cove Advisors: assets under management

The assets under management (AUM) of Sandy Cove Advisors, LLC is $190.25 million. The firm's AUM has grown by 25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $156.34 million in discretionary accounts and $33.91 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $398.82 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $616.54 thousand.

Sandy Cove Advisors has custody of $90.63 million in cash and securities for 89 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 78% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 9% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sandy Cove Advisors, 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 Sandy Cove Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Sandy Cove Advisors is high net worth individuals with 50 clients and $162.39 million of assets under management. Among the 6 most similar advisory firms, Sandy Cove Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $187.1 million for 125 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.

Sandy Cove Advisors doesn't advise any private funds.

Careers at Sandy Cove Advisors, LLC

The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 4 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.

Robert James Reilly has served as the Chief Investment Officer since 1 Dec 2014. Kelley Roche Ellis joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Deirdre Reilly Prescott	Managing member	1 Nov 2009	75% - 100%	2311321
Robert James Reilly	Chief investment officer/chief compliance officer	1 Dec 2014	Other	1587357
Kelley Roche Ellis	Chief compliance officer	1 Mar 2017	Other	5433504
Kelley R Ellis	Chief compliance officer	1 Mar 2017	Other	5433504

Based in Hingham

The principal office where Sandy Cove Advisors, LLC performs its advisory services is located at 37 Derby Street, Suite 5, Hingham, MA 02043, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-622-1500 or by fax 617-979-8727. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at sandycoveadvisors.com.