Morgillo Financial Management Inc (North Andover)

Name: Morgillo Financial Management Inc
Address: 855 Turnpike Street, North Andover, MA, 01845
Telephone: 978-975-3000

Morgillo Financial Management Inc is a large advisory firm based in North Andover. It manages $115 million of regulatory assets for 613 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida, Maine, Massachusetts, and New Hampshire.

Morgillo Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Morgillo Financial Management: assets under management

The assets under management (AUM) of Morgillo Financial Management Inc is $115 million. The firm's AUM has grown by 76% since the beginning of its operation, and $400 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $111 million in discretionary accounts and $4 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $189.42 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $148.15 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 64% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Morgillo Financial Management 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 Morgillo Financial Management serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Morgillo Financial Management is high net worth individuals with 40 clients and $65 million of assets under management. Among the 8 most similar advisory firms, Morgillo Financial Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $115 million for 179 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Morgillo Financial Management doesn't advise any private funds.

Careers at Morgillo Financial Management Inc

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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
Elaine Brunelli Morgillo	Shareholder/chief compliance officer	1 Jul 1998	75% - 100%	1578345
Amy Elizabeth Mastromonaco	Director of operations	1 Jul 1998	Other	2740891
Kevin James Kennedy	Shareholder/executive vice president	1 Jan 2012	Other	4421611

Based in North Andover

The principal office where Morgillo Financial Management Inc performs its advisory services is located at 855 Turnpike Street, North Andover, MA 01845, which is also the mailing address of the firm. An additional office of the firm is in Portsmouth, NH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 978-975-3000 or by fax 978-975-3323. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at morgillofinancial.com.