Ballentine Partners, LLC (Waltham)

Name: Ballentine Partners, LLC
Address: 230 Third Avenue, Waltham, MA, 02451
Telephone: 781-341-1300

Ballentine Partners, LLC is a large advisory firm based in Waltham. It manages $6.42 billion of regulatory assets for 4,019 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Connecticut, and 11 other states.

Ballentine Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, educational seminars and workshops, and we are a sub-advisor.. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Ballentine Partners: assets under management

The assets under management (AUM) of Ballentine Partners, LLC is $6.42 billion. The firm's AUM has grown by 154% since the beginning of its operation, and $101.78 million of the total AUM is attributable to clients outside of the United States.

The firm manages $4.23 billion in discretionary accounts and $2.19 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.76 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.35 million.

Ballentine Partners has custody of $6.42 billion in cash and securities for 211 clients in total and its related person acts 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 20% of the firm’s portfolio. Investments in state and local bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ballentine Partners, LLC 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 Ballentine Partners serves?

The only and largest group of clients of Ballentine Partners is high net worth individuals with 211 clients and $6.42 billion of assets under management. Among the 8 most similar advisory firms, Ballentine Partners has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $6.42 billion for 211 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.

Ballentine Partners doesn't advise any private funds.

Careers at Ballentine Partners, LLC

The company employs 73 people that are either part- or full-time employees. 74 percent of the employees work as investment advisers or researchers. 50 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
Claudia Jean Shilo	Cfo	1 Jan 2010	Other	4520129
Kyle Judge Schaffer	Vice president, elected manager	1 Jan 2010	Other	4623814
Gregory Lambros Peterson	Vice president	1 Jan 2010	Other	4586325
Roy Cooper Ballentine	Chief compliance officer	1 Jan 2010	Other	1100859
Ballentine & Co Inc	Owner - common shares, member	1 Jan 2010	50% - 75%	04-3350500
Perspecta Investments Llc	Owner - preferred shares, member	1 Jan 2010	25% - 50%	27-1649376
Bruce David Simon	Cio	1 Jan 2010	Other	1976549
Andrew John Mcmorrow	Vice president, elected manager	1 Jan 2010	Other	4615926
Coventry Edwards Pitt	Vice president	1 Jan 2010	Other	3122847
Ballentine Finn & Co Inc	Owner - common shares	1 Jan 2010	50% - 75%	108853
Paul Meister	Elected manager	1 Jan 2010	Other	5750554
Coventry Nmn Edwards Pitt	Vice president	1 Jan 2010	Other	3122847
Thomas Walker Bullitt	Vice president	1 Oct 2010	Other	2736856
Paul Michael Montrone	Elected manager	1 Dec 2010	Other	5750559
Kyle Judge Schaffer	Cio	1 Jan 2011	Other	4623814
Andrew John Mcmorrow	President, elected manager	1 Oct 2011	Other	4615926
Coventry Edwards Pitt	Chief wealth advisory officer / vice president	1 Oct 2011	Other	3122847
Roy Cooper Ballentine	Ceo, elected manager	1 Oct 2011	Other	1100859
Coventry Nmn Edwards Pitt	Chief wealth advisory officer / vice president	1 Oct 2011	Other	3122847
Paul Matthew Meister	Elected manager	1 Jan 2012	Other	5750554
William Lawrence Braman	Cio	1 Jun 2012	Other	4339687
Andrew John Mcmorrow	President, ceo, elected manager	1 Jan 2016	Other	4615926
Anja Saloranta	Chief operating officer	1 Nov 2016	Other	6725203

Indirect Owners

The SEC currently registers 15 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Roy Cooper Ballentine	President/shareholder	1 May 1997	50% - 75%	1100859
Leland Scott Scharer	Trustee	1 May 2006	Other	2384685
Perspecta Holding Llc	Owner, member	1 Dec 2009	75% - 100%	27-1649289
Bayberry Bp Llc	Owner, member	1 Dec 2009	50% - 75%	27-1657129
Bayberry 2006 Trust	Trust, member	1 Dec 2009	Other	26-6471044
Perspecta Holdings Llc	Owner, member	1 Dec 2009	75% - 100%	27-1649289
Paul Michael Montrone	Elected manager	1 Jan 2010	Other	5750559
Paul Matthew Meister	Owner, member	1 Jan 2010	25% - 50%	5750554
Scott Thomas Baker	Manager	1 Jan 2010	Other	2526358
The 1994 Roy C. Ballentine Family Trust	Indirect owner	1 Jan 2010	50% - 75%	04-3523567
Perspecta Holding Llc	Owner	1 Jan 2010	75% - 100%	27-1649289
Bayberry Bp Llc	Owner	1 Jan 2010	50% - 75%	27-1657129
Paul Montrone	Elected manager	1 Jan 2010	Other	5750559
L. Scott Scharer As Trustee Of Bayberry 2006 Trust	Trustee	1 Jan 2010	Other	26-6471044
Paul Matthew Meister	Trustee	1 Jan 2011	Other	5750554

Based in Waltham

The principal office where Ballentine Partners, LLC performs its advisory services is located at 230 Third Avenue, Waltham, MA 02451 The mailing address of the firm is 230 Third Avenue, Waltham, MA 02451. An additional office of the firm is in Palm Beach Gardens, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 781-341-1300 or by fax 781-359-8412. The normal business hours are 8:30-5:00 on Monday - Friday. You can find more information about the New York firm at ballentinepartners.com.