Choate Investment Advisors LLC is a large advisory firm based in Boston. It manages $4.5 billion of regulatory assets for 2,387 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 27 other states.
Choate Investment Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Choate Investment Advisors LLC is $4.5 billion. The firm's AUM has grown by 79% since the beginning of its operation, and $8.7 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Choate Investment 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.
The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Choate Investment Advisors is high net worth individuals with 310 clients and $4.14 billion of assets under management. Among the 5 most similar advisory firms, Choate Investment Advisors has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $4.5 billion for 403 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.
Choate Investment Advisors also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.
The company employs 14 people that are either part- or full-time employees. 79 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.
The principal office where Choate Investment Advisors LLC performs its advisory services is located at Two International Place, 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 617-973-4900 or by fax 617-248-4000. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at choateinvestmentadvisors.com.