Manchester Capital Management LLC (Manchester)

Name: Manchester Capital Management LLC
Address: 3657 Main Street, Manchester, VT, 05254
Telephone: 802-362-4410

Manchester Capital Management LLC is a large advisory firm based in Manchester. It manages $3.43 billion of regulatory assets for 1,421 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Colorado, Delaware, and 11 other states.

Manchester Capital Management 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 prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Manchester Capital Management: assets under management

The assets under management (AUM) of Manchester Capital Management LLC is $3.43 billion. The firm's AUM has grown by 1243% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.65 billion in discretionary accounts and $780.07 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.9 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $31.2 million.

Manchester Capital Management has custody of $1.93 billion in cash and securities for 238 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 67% of the total AUM. The second-largest asset type is state and local bonds, which make up 23% of the firm’s portfolio. Investments in investment grade corporate bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Manchester Capital Management LLC for their services and products based on a percentage of assets under management 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 Manchester Capital Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Manchester Capital Management is high net worth individuals with 153 clients and $3.22 billion of assets under management. Among the 9 most similar advisory firms, Manchester Capital Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $3.43 billion for 252 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.

Manchester Capital Management also advises several private funds. Namely, five hedge funds, one other private fund, two private equity funds, and five venture capital funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Manchester Capital Management LLC

The company employs 35 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 13 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edward Wright Cronin	Chief executive officer, cio, board of managers, partner	1 Mar 1993	50% - 75%	2369061
Iii Bayard Randolph Kraft	Chief compliance officer, managing director, partner	1 Nov 1998	Other	4357374
Nancy Knox Port	Managing director	1 Nov 1998	Other	1801029
David Lewis Brigham	Managing director	1 Jan 2000	Other	1309828
Vito Gioiello	Managing director	1 Sep 2003	Other	4645040
Richard Man Johnston	Managing director	1 Sep 2003	Other	1862722
Edward W. Cronin Jr. 2005 Irrevocable Trust Fbo A. Read Cronin	Owner	1 Dec 2006	Other	12-3456789
Edward W. Cronin Jr. 2005 Irrevocable Trust Fbo C. Wright Cronin	Owner	1 Dec 2006	Other	12-3456789
Henry D Morneault	Chief operating officer	1 Jan 2007	Other	4439415
Scott Nelson Swenor	Chief financial officer, partner	1 Jul 2007	Other	5415380
Morgan Wayne Roberts	Wealth manager, board of managers, partner	1 Jan 2009	Other	4605031
Jeffrey Stuart Hall	Senior managing director, partner	1 Jan 2009	Other	5774743
Murray Craig Stoltz	President, member of board of managers	1 Sep 2010	Other	1563821
Peter Demott Swift	Owner, board of managers	1 Jan 2011	Other	5905958
Jfs Twenty Percent Llc	Owner	1 Jan 2011	Other	26-0648573
Peter Demott Swift Trust	Owner	1 Jan 2011	Other	xxx-xx-xxxx
Amy Elizabeth Macleod	Wealth manager, partner	1 Jan 2012	Other	5658258
Bartholomew John Earley	Director of research, partner	1 Jan 2012	Other	2510641
Andrew Ross Beresford	Wealth manager, board of managers, partner	1 Jan 2012	Other	5303702
Brian Jarlath Vogel	Wealth manager, partner	1 Jan 2012	Other	5730219
Jeremy Beckett Heidrick	Managing director, partner	1 Jan 2012	Other	6043391
Amy Elizabeth Gresh	Partner	1 Jan 2012	Other	5658258
Griffin Sivret	Wealth manager, partner	1 Jan 2014	Other	5712337
Michael Warszawski	Wealth manager, member	1 Jan 2017	Other	4594103
Alexander Michael Popovich	Managing director, estate and tax planning	1 Jan 2018	Other	4037910

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
John Frederick Swift	Owner	1 Jan 2011	75% - 100%	5905959
John Frederic Swift	Owner	1 Jan 2011	75% - 100%	5905959

Based in Manchester

The principal office where Manchester Capital Management LLC performs its advisory services is located at 3657 Main Street, Manchester, VT 05254 The mailing address of the firm is Po Box 416, Manchester, VT 05254. An additional office of the firm is in Charlottesville, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 802-362-4410 or by fax 802-362-1377. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at mcmllc.com.