Essex Financial Advisors, Inc. (Topsfield)

Name: Essex Financial Advisors, Inc.
Address: 58 Main Street, Topsfield, MA, 01983
Telephone: 978-887-6940

Essex Financial Advisors, Inc. is a large advisory firm based in Topsfield. It manages $151.38 million of regulatory assets for 421 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Massachusetts, New Hampshire, and New York.

Essex Financial Advisors provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Essex Financial Advisors: assets under management

The assets under management (AUM) of Essex Financial Advisors, Inc. is $151.38 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $151.38 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $359.58 thousand each.

Essex Financial Advisors has custody of $13.44 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 51% of the total AUM. The second-largest asset type is investment and business development companies, which make up 32% 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 Essex Financial Advisors, Inc. 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 Essex Financial Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Essex Financial Advisors is high net worth individuals with 35 clients and $107.46 million of assets under management. Among the 10 most similar advisory firms, Essex Financial Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $147.13 million for 166 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.

Essex Financial Advisors doesn't advise any private funds.

Careers at Essex Financial Advisors, Inc.

The company employs 3 people that are either part- or full-time employees. 33 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Edward Bunker	President chief compliance officer and managing member	1 Feb 2018	Other	2986602
Huntwicke Capital Group Inc.	Owner	1 Mar 2018	75% - 100%	27-1184887

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Brian Andrew Woodland	Member	1 Dec 2009	75% - 100%	2263508

Based in Topsfield

The principal office where Essex Financial Advisors, Inc. performs its advisory services is located at 58 Main Street, Topsfield, MA 01983, 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 978-887-6940 or by fax 978-887-0425. The normal business hours are 9:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at essexadvisors.com.