One Charles Private Wealth Services, LLC (Hingham)

Name: One Charles Private Wealth Services, LLC
Address: 99 Derby Street, Hingham, MA, 02043
Telephone: 617-337-4208

One Charles Private Wealth Services, LLC is a large advisory firm based in Hingham. It manages $818.49 million of regulatory assets for 2,404 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Arizona, California, Florida, and 8 other states.

One Charles Private Wealth Services provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

One Charles Private Wealth Services: assets under management

The assets under management (AUM) of One Charles Private Wealth Services, LLC is $818.49 million. The firm's AUM has grown by 214% since the beginning of its operation, and $6.13 million of the total AUM is attributable to clients outside of the United States.

The firm manages $798.43 million in discretionary accounts and $20.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $337.32 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $542.22 thousand.

One Charles Private Wealth Services has custody of $88.31 million in cash and securities for 112 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in pooled investment vehicles form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay One Charles Private Wealth Services, 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 One Charles Private Wealth Services serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of One Charles Private Wealth Services is high net worth individuals with 232 clients and $618.25 million of assets under management. Among the 9 most similar advisory firms, One Charles Private Wealth Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $816.42 million for 536 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.

One Charles Private Wealth Services doesn't advise any private funds.

Careers at One Charles Private Wealth Services, LLC

The company employs 18 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 10 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Steven Eugene Neeley has served as the Chief Investment Officer since 1 Jul 2019. Todd Macarthur Douma joined the executive team most recently as the Principal & Senior Adviser.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Operating	Member (manager)	1 Dec 2016	75% - 100%	20-8161914
Llc Focus Operating	Member (manager)	1 Feb 2017	75% - 100%	20-8161914
Paul Andrew Squarcia	Chief compliance officer, founding partner	1 Feb 2017	Other	4196537
Erik Randall Wallin	Managing partner	1 Feb 2017	Other	4406538
Pamela Anne Desmarais	Chief operating officer	1 Feb 2017	Other	6724708
Howard Perkins Corey	Chief operating officer	1 Jan 2018	Other	5283091
Todd Macarthur Douma	Principal & senior adviser	1 Jul 2019	Other	2401333
Susan Elaine Abbass	Chief compliance officer	1 Jul 2019	Other	3199850
Gavin David Lyons	Chief operating officer	1 Jul 2019	Other	5997486
Steven Eugene Neeley	Chief investment officer	1 Jul 2019	Other	5817540
Erik Randall Wallin	Lead advisor	1 Jul 2019	Other	4406538

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Financial Partners	Member	1 Jan 2007	75% - 100%	16-1728260
L.P. Cp Falcon Aiv	Member	1 Oct 2013	25% - 50%	36-4767158
Llc Focus Financial Partners	Member	1 Dec 2016	75% - 100%	16-1728260
Llc Focus Financial Partners	Member	1 Feb 2017	75% - 100%	16-1728260
L.P. Trident Vi Parallel Fund	Member	1 Apr 2017	75% - 100%	98-1132009
Trident Ffp Blocker Llc	Limited partner	1 May 2017	25% - 50%	82-1662776
L.P. Trident Vi	Limited partner	1 May 2017	25% - 50%	98-1131820
L.P. Trident Ffp	Member	1 Jul 2017	25% - 50%	82-1662703
Focus Financial Partners Inc.	Member	1 Jul 2018	75% - 100%	47-4780811

Based in Hingham

The principal office where One Charles Private Wealth Services, LLC performs its advisory services is located at 99 Derby Street, Hingham, MA 02043, which is also the mailing address of the firm. An additional office of the firm is in Scottsdale, AZ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-337-4208. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at onecharlespw.com/ and its LinkedIn profile.