Claro Advisors, LLC (Boston)

Name: Claro Advisors, LLC
Address: 185 Dartmouth Street, Boston, MA, 02116
Telephone: (800) 604-2838

Claro Advisors, LLC is a large advisory firm based in Boston. It manages $339.67 million of regulatory assets for 1,180 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 8 other states.

Claro Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Claro Advisors: assets under management

The assets under management (AUM) of Claro Advisors, LLC is $339.67 million. The firm's AUM has grown by 103% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $302.29 million in discretionary accounts and $37.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $259.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.67 million.

Claro Advisors has custody of $62.16 million in cash and securities for 73 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 46% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Claro Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Claro Advisors serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Claro Advisors is high net worth individuals with 61 clients and $136.12 million of assets under management. Among the 12 most similar advisory firms, Claro Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $339.07 million for 470 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.

Claro Advisors doesn't advise any private funds.

Careers at Claro Advisors, LLC

The company employs 12 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. 10 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
Ryan Scott Belanger	Managing member	1 Jan 2012	75% - 100%	4846843
Christopher Edward Winn	Member and chief compliance officer	1 Jan 2012	75% - 100%	4639347
Jennifer Collier Street	Chief compliance officer	1 Jul 2014	Other	4914254

Based in Boston

The principal office where Claro Advisors, LLC performs its advisory services is located at 185 Dartmouth Street, Boston, MA 02116, which is also the mailing address of the firm. An additional office of the firm is in Dedham, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (800) 604-2838 or by fax (866) 920-4359. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at claroadvisors.com and its LinkedIn profile.