The Patriot Financial Group Insurance Agency, LLC (Westborough)

Name: The Patriot Financial Group Insurance Agency, LLC
Address: 182 Turnpike Road, Westborough, MA, 01581
Telephone: (508) 251-6100

The Patriot Financial Group Insurance Agency, LLC is a large advisory firm based in Westborough. It manages $306.33 million of regulatory assets for 2,036 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Connecticut, Florida, and 14 other states.

The Patriot Financial Group Insurance Agency provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

The Patriot Financial Group Insurance Agency: assets under management

The assets under management (AUM) of The Patriot Financial Group Insurance Agency, LLC is $306.33 million. The firm's AUM has gone down by -5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $260.32 million in discretionary accounts and $46.01 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $133.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $561.15 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment and business development companies, which make up 30% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Patriot Financial Group Insurance Agency, LLC for their services and products based on a percentage of assets under management, hourly charges, 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 The Patriot Financial Group Insurance Agency serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of The Patriot Financial Group Insurance Agency is individuals with 1,734 clients and $189.6 million of assets under management. Among the 10 most similar advisory firms, The Patriot Financial Group Insurance Agency has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $306.33 million for 1,806 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.

The Patriot Financial Group Insurance Agency doesn't advise any private funds.

Careers at The Patriot Financial Group Insurance Agency, LLC

The company employs 35 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 35 employees are registered as investment adviser representatives with the state securities authorities.

There are 11 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.

Caitlyn Elizabeth Frament joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Michael Odonnell	Managing member / president/chief compliance officer	1 Apr 2004	50% - 75%	1423780
Michael Paul Tashjian	Chief executive officer	1 May 2015	50% - 75%	2679784
Caitlyn Elizabeth Frament	Chief compliance officer	1 Jul 2018	Other	5122579

Based in Westborough

The principal office where The Patriot Financial Group Insurance Agency, LLC performs its advisory services is located at 182 Turnpike Road, Westborough, MA 01581, which is also the mailing address of the firm. An additional office of the firm is in Marlborough, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (508) 251-6100 or by fax (508) 573-1076. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at peterkinfinancial.com.