Aureus Asset Management, LLC (Boston)

Name: Aureus Asset Management, LLC
Address: One Winthrop Square, Boston, MA, 02110
Telephone: 617.728.8900

Aureus Asset Management, LLC is a large advisory firm based in Boston. It manages $2.84 billion of regulatory assets for 550 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdiction of Massachusetts.

Aureus Asset 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, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Aureus Asset Management: assets under management

The assets under management (AUM) of Aureus Asset Management, LLC is $2.84 billion. The firm's AUM has grown by 6201% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $907.02 million in discretionary accounts and $1.93 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.78 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $47.04 million.

Aureus Asset Management has custody of $88.36 million in cash and securities for 116 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities 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 state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Aureus Asset 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 Aureus Asset 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 Aureus Asset Management is charitable organizations with 14 clients and $1.92 billion of assets under management. Among the 9 most similar advisory firms, Aureus Asset Management has the highest percentage of charitable organizations out of all clients.

The amount of regulatory assets under management is $2.84 billion for 129 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.

Aureus Asset Management also advises several private funds. Namely, four hedge funds. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Aureus Asset Management, LLC

The company employs 12 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
David Witherspoon Scudder	Member	1 Jul 2005	Other	4393569
Karen Mindy Firestone	Member president and ceo	1 Jul 2005	50% - 75%	5031758
George Nathaniel Jeppson	Member	1 Jul 2005	Other	2913024
Thaddeus Hallock Davis	Member	1 Jul 2005	Other	2573951
Stacey Jane Atkinson	Member	1 Jul 2005	Other	5031759
Catherine Nickas Bazdanes	Member	1 Jul 2005	Other	5031760
Carol D Williams	Member	1 Jul 2005	Other	5032593
Tamara Jean Ward	Member	1 Jan 2007	Other	4043336
Gina L. Koprowski	Member	1 Dec 2010	Other	4824550
Michael Wellington Kellogg	Member & chief compliance officer	1 Jan 2014	Other	2658626
Stefan Bengt Emil Karlsson	Member	1 Jan 2014	Other	4224850
Gina L. Koprowski	Member	1 Jan 2015	Other	4824550
Carlos J. Shigueta	Member	1 Jan 2016	Other	4221698

Based in Boston

The principal office where Aureus Asset Management, LLC performs its advisory services is located at One Winthrop Square, 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 617.728.8900 or by fax 617.728.8901. The normal business hours are 8:00 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at aureus-asset.com.