Opus Investment Management, Inc. (Worcester)

Name: Opus Investment Management, Inc.
Address: 440 Lincoln St, Worcester, MA, 01653 0002
Telephone: 508-855-3567

Opus Investment Management, Inc. is a large advisory firm based in Worcester. It manages $11.14 billion of regulatory assets for 87 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Massachusetts, New York, and Texas.

Opus Investment Management provides portfolio management for businesses and institutional clients and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Opus Investment Management: assets under management

The assets under management (AUM) of Opus Investment Management, Inc. is $11.14 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -39% since the beginning of its operation, and $1.64 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $11.14 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $128.05 million each.

Opus Investment Management has custody of $1.01 billion in cash and securities for 24 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 26% of the total AUM. The second-largest asset type is state and local bonds, which make up 11% of the firm’s portfolio. Investments in government bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Opus Investment Management, Inc. for their services and products based on a percentage of assets under management. 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 Charles Frederick Cronin serves?

The firm provides services to insurance companies, corporations or other businesses, and state or municipal government entities. The largest group of clients of Charles Frederick Cronin is insurance companies with 43 clients and $9.83 billion of assets under management. Among the 11 most similar advisory firms, Opus Investment Management has the highest percentage of insurance companies out of all clients.

The amount of regulatory assets under management is $11.14 billion for 50 clients. 6% of the firm’s clients are foreign persons or businesses.

Opus Investment Management doesn't advise any private funds.

Careers at Opus Investment Management, Inc.

The company employs 22 people that are either part- or full-time employees. 59 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Charles Frederick Cronin has been acting as President since 1 Mar 2011. Joseph Julian Scavetti joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Scott Charles Hyney	Vice president	1 Apr 1993	Other	4356804
Rene Joseph Labonte	Vice president	1 Apr 1993	Other	2800775
Ann Kirkpatrick Tripp	Vice president	1 Apr 1993	Other	4356826
John Patrick Kavanaugh	Director & president	1 Jun 1995	Other	2794528
Inc. The Hanover Insurance Group	Owner	1 Oct 1995	75% - 100%	04-3263626
Allmerica Financial Corporation	Owner	1 Oct 1995	75% - 100%	04-3263626
Joseph William Macdougall	Secretary/clerk; counsel	1 Apr 1996	Other	2351509
Richard John Litchfield	Vice president	1 Jul 1997	Other	2800769
Richard John Litchfield	Vice president	1 Apr 1998	Other	2800769
Thomas E. Hardy	Vice president	1 Jul 1998	Other	4772374
J Kendall Huber	Director	1 Mar 2000	Other	2068417
Mark Christopher Mcgivney	Treasurer	1 Mar 2000	Other	2788697
Nathaniel B. Chamberlain	Vice president	1 Apr 2001	Other	4772352
Robert Joseph Swidey	V.p. & chief compliance officer	1 Apr 2001	Other	2151677
Edward J Parry	Director	1 Dec 2002	Other	2357663
Donald Paul Wayman	V.p. & chief compliance officer	1 May 2003	Other	4179141
George Morley Boyd	Secretary/clerk	1 Feb 2005	Other	1485768
Daniel John Desmarais	Vice president	1 Jun 2005	Other	2086311
Sheila Barbara St. Hilaire	Secretary	1 Aug 2005	Other	1462552
Ann Kirkpatrick Tripp	Director & president	1 Mar 2006	Other	4356826
Donald Paul Wayman	V.p., secretary & chief compliance officer	1 Mar 2007	Other	4179141
Eugene M. Bullis	Director	1 Nov 2007	Other	4716806
Robert P Myron	Treasurer	1 Nov 2007	Other	5458073
David B. Greenfield	Director	1 Dec 2010	Other	5894582
Charles Frederick Cronin	Director	1 Mar 2011	Other	4212484
David B. Greenfield	Director and executive chairman of the board	1 Sep 2011	Other	5894582
Jeffrey Mark Farber	Director & executive chairman	1 Jan 2017	Other	4192238
Emily K Silva	Chief compliance officer	1 Sep 2017	Other	3224656
Lynne Ann Mcentegart	Secretary	1 Sep 2017	Other	2848475
Joseph Julian Scavetti	Chief compliance officer	1 Jul 2018	Other	2275422

Based in Worcester

The principal office where Opus Investment Management, Inc. performs its advisory services is located at 440 Lincoln St, Worcester, MA 01653 0002, 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 508-855-3567 or by fax 508-855-4846. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at opusinvestment.com.