Connecticut Wealth Management, LLC (Farmington)

Name: Connecticut Wealth Management, LLC
Address: 281 Farmington Avenue, Farmington, CT, 06032 1911
Telephone: 860-470-0290

Connecticut Wealth Management, LLC is a large advisory firm based in Farmington. It manages $703.18 million of regulatory assets for 1,355 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Connecticut, Florida, and 12 other states.

Connecticut Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and assets under advisement. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Connecticut Wealth Management: assets under management

The assets under management (AUM) of Connecticut Wealth Management, LLC is $703.18 million. The firm's AUM has grown by 323% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $647.86 million in discretionary accounts and $55.32 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $488.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.98 million.

Connecticut Wealth Management has custody of $4.34 million in cash and securities for 8 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 35% of the firm’s portfolio. Investments in non-exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Connecticut Wealth 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 Connecticut Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Connecticut Wealth Management is high net worth individuals with 212 clients and $503.9 million of assets under management. Among the 10 most similar advisory firms, Connecticut Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $703.11 million for 740 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.

Connecticut Wealth Management doesn't advise any private funds.

Careers at Connecticut Wealth Management, LLC

The company employs 17 people that are either part- or full-time employees. 53 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 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
Kevin Christopher Leahy	Managing member and chief compliance officer	1 Jul 2010	50% - 75%	4245603
Kevin Christopher Leahy	Managing member and chief compliance officer	1 Oct 2010	50% - 75%	4245603
Denis Michael Horrigan	Member	1 Jan 2011	Other	2214876
Michael Anthony Tedone	Partner	1 Jun 2013	Other	4414244

Based in Farmington

The principal office where Connecticut Wealth Management, LLC performs its advisory services is located at 281 Farmington Avenue, Farmington, CT 06032 1911, 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 860-470-0290 or by fax 860-470-0289. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at ctwealthmgmt.com.