Congress Asset Management Company, LLP (Boston)

Name: Congress Asset Management Company, LLP
Address: 2 Seaport Lane, Boston, MA, 02210 2001
Telephone: 617-737-1566

Congress Asset Management Company, LLP is a large advisory firm based in Boston. It manages $7.1 billion of regulatory assets for 4,918 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Congress Asset Management Company provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Congress Asset Management Company: assets under management

The assets under management (AUM) of Congress Asset Management Company, LLP is $7.1 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 6% since the beginning of its operation, and $57.59 million of the total AUM is attributable to clients outside of the United States.

The firm manages $7.1 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.44 million each.

Congress Asset Management Company has custody of $253.86 million in cash and securities for 153 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 16% of the firm’s portfolio. Investments in government bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Congress Asset Management Company, LLP for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Daniel Anthony Lagan serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Daniel Anthony Lagan is high net worth individuals with 1,756 clients and $2.1 billion of assets under management. Among the 7 most similar advisory firms, Congress Asset Management Company has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.1 billion for 4,918 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 4% of the firm’s clients are foreign persons or businesses.

Congress Asset Management Company doesn't advise any private funds.

Careers at Congress Asset Management Company, LLP

The company employs 55 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 11 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Daniel Anthony Lagan has been acting as President since 1 Jan 1998. Fred Hugh Wofford joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Alfred Alphonsus Lagan	Chairman	1 Jan 1985	Other	2155158
Alfred Alphonsus Lagan (Estate)	Chairman	1 Jan 1985	Other	2155158
Lagan Holding Company Trust	General partner	1 Jan 1990	75% - 100%	04-3038652
Lagan Holding Company	General partner	1 Jan 1990	75% - 100%	04-3038652
Daniel Anthony Lagan	President	1 Jan 1998	Other	2236297
Christopher Michael Lagan	Managing director	1 Jan 1998	Other	2497190
Christoher Michael Lagan	Senior vice president	1 Jan 1998	Other	2497190
Matthew Terence Lagan	Vice president - senior research analyst & portfolio manager	1 Jan 2003	Other	4345233
Lawrence Asa Ward	Chief compliance officer	1 Jan 2003	Other	2154852
Inc. Lagan Congress	General partner	1 Jun 2004	Other	20-1370459
Fred Hugh Wofford	Chief compliance officer	1 Aug 2014	Other	2013968
Fred Hugh Wofford	Chief compliance officer	1 Dec 2014	Other	2013968
Fred Wofford	Chief compliance officer	1 Dec 2014	Other	2013968

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Lagan Holding Company Trust	Indirect owner	1 Jun 2004	75% - 100%	04-3038652
Daniel Anthony Lagan	Officer	1 Jun 2004	50% - 75%	2236297
Christopher Michael Lagan	Officer	1 Jun 2004	25% - 50%	2497190
Alfred Alphonsus Lagan	Indirect owner	1 Jun 2004	25% - 50%	2155158
Alfred Alphonsus Lagan (Estate)	Indirect owner	1 Jun 2004	25% - 50%	2155158
Lagan Holding Company	Indirect owner	1 Jun 2004	75% - 100%	04-3038652
Matthew Terence Lagan	Officer	1 Jun 2013	Other	4345233

Based in Boston

The principal office where Congress Asset Management Company, LLP performs its advisory services is located at 2 Seaport Lane, Boston, MA 02210 2001, 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 617-737-1566 or by fax 617-428-4399. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at congressasset.com.