Beaumont Financial Partners LLC (Needham)

Name: Beaumont Financial Partners LLC
Address: 250 1 St Avenue, Needham, MA, 02494
Telephone: 781-400-2800

Beaumont Financial Partners LLC is a large advisory firm based in Needham. It manages $2.03 billion of regulatory assets for 3,015 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 24 other states.

Beaumont Financial Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and wrap programs/model manager/sub-advisor. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Beaumont Financial Partners: assets under management

The assets under management (AUM) of Beaumont Financial Partners LLC is $2.03 billion. The firm's AUM has grown by 295% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.51 billion in discretionary accounts and $525.1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $549.05 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.93 million.

Beaumont Financial Partners has custody of $90.42 million in cash and securities for 11 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is investment and business development companies, which make up 21% of the firm’s portfolio. Investments in cash and cash equivalents form 21% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Beaumont Financial Partners 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 Beaumont Financial Partners serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Beaumont Financial Partners is individuals with 1,115 clients and $884.32 million of assets under management. Among the 9 most similar advisory firms, Beaumont Financial Partners has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.03 billion for 1,244 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.

Beaumont Financial Partners doesn't advise any private funds.

Careers at Beaumont Financial Partners LLC

The company employs 45 people that are either part- or full-time employees. 51 percent of the employees work as investment advisers or researchers. 34 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Michael Peter Stack has served as the Chief Investment Officer since 1 Jul 2009. Michael Harris Snyder joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Joseph Cahill	Class a member	1 Oct 1999	25% - 50%	4378268
James Maclay Oates	Class b member	1 Oct 1999	Other	1235299
Jr. Richard Mellier Burnes	Class b member	1 Oct 1999	Other	4378430
Christopher Prince Hennessey	Class c member	1 Oct 1999	Other	4378210
David A. Drinkwater Revocable Trust	Class a member	1 Oct 1999	Other	xxx-xx-xxxx
James Hollander Vineburgh	Class a member	1 Oct 1999	Other	454911
David Anthony Drinkwater	Trustee	1 Oct 1999	Other	4378283
Paul D. Kaneb Limited Partnership	Class b member	1 Oct 1999	Other	88-0311288
Richard Francis Connolly	Class b member	1 Oct 1999	Other	600958
Paul Dwight Kaneb	Maj. owner of kaneb lp	1 Oct 1999	Other	4379578
The 1974 Paul D. Kaneb Revocable Trust	Class b member	1 Oct 1999	Other	04-6364401
Inc. H & Co Financial Services	Class a member	1 Oct 2000	25% - 50%	04-**18706
David Meade Haviland	Shareholder	1 Oct 2000	25% - 50%	2283702
Sailing David Adler	Class c member	1 Jun 2002	Other	2602428
Kenneth Michael Sexter	Class c member	1 Jun 2002	Other	4222319
Edward Francis Hurley	Director of compliance and operations	1 Sep 2004	Other	4897677
Philip Julien Dubuque	Class b member	1 Jul 2006	Other	1346884
Edward Francis Hurley	Chief financial officer and compliance officer	1 Aug 2006	Other	4897677
Lawrence Anthony Fiore	Class a member/tax director	1 Jul 2007	Other	5404017
Michael Peter Stack	Class a member/chief investment officer	1 Jul 2009	Other	5117222
Michael Harris Snyder	Chief compliance officer	1 May 2014	Other	2921888

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Paul Dwight Kaneb	General partner of kaneb lp	1 Jan 1974	75% - 100%	4379578
David Meade Haviland	President, owner of h&co	1 Jul 1993	75% - 100%	2283702
David Anthony Drinkwater	Trustee	1 Mar 1996	75% - 100%	4378283

Based in Needham

The principal office where Beaumont Financial Partners LLC performs its advisory services is located at 250 1 St Avenue, Needham, MA 02494, which is also the mailing address of the firm. An additional office of the firm is in Wayne, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 781-400-2800 or by fax 781-400-2879. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at bfpartners.com.