The Patriot Group Insurance Agency, LLC (Westborough)

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

The Patriot Group Insurance Agency, LLC is a large advisory firm based in Westborough. It manages $322.5 million of regulatory assets for 2,135 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Connecticut, Florida, and 11 other states.

The Patriot Group Insurance Agency provides financial planning services, portfolio management for individuals and small businesses, 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.

The Patriot Group Insurance Agency: assets under management

The assets under management (AUM) of The Patriot Group Insurance Agency, LLC is $322.5 million. The firm's AUM has grown by 348% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $243.2 million in discretionary accounts and $79.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $193.94 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $90.01 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 10% of the firm’s portfolio. Investments in state and local bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Patriot Group Insurance Agency, 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 The Patriot 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 Group Insurance Agency is individuals with 1,563 clients and $224.03 million of assets under management. Among the 10 most similar advisory firms, The Patriot Group Insurance Agency has the 4th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $322.5 million for 1,618 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 Group Insurance Agency doesn't advise any private funds.

Careers at The Patriot Group Insurance Agency, LLC

The company employs 59 people that are either part- or full-time employees. 66 percent of the employees work as investment advisers or researchers. 39 employees are registered as investment adviser representatives with the state securities authorities.

There are 10 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.

Rosemarie Ranzie 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	1 Apr 2004	75% - 100%	1423780
Rosemarie Ranzie	Chief compliance officer	1 Jul 2014	Other	5236178
Michael Paul Tashjian	Chief executive officer	1 May 2015	50% - 75%	2679784

Based in Westborough

The principal office where The Patriot 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 Warwick, RI. 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 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at patriot-financial-group.com.