Cottage Street Advisors, LLC (Marion)


Cottage Street Advisors, LLC is a large advisory firm based in Marion. It manages $186.34 million of regulatory assets for 82 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Massachusetts and New Hampshire.

Cottage Street Advisors provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cottage Street Advisors: assets under management

The assets under management (AUM) of Cottage Street Advisors, LLC is $186.34 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 38% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $186.34 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.27 million each.
Cottage Street Advisors has custody of $12.97 million in cash and securities for 18 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 10% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cottage Street Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 Cottage Street Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Cottage Street Advisors is high net worth individuals with 41 clients and $168.35 million of assets under management. Among the 10 most similar advisory firms, Cottage Street Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $186.34 million for 82 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.

Cottage Street Advisors doesn't advise any private funds.

Careers at Cottage Street Advisors, LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. No 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
Michael Davis Managing member 1 Oct 2014 50% - 75% 2577860
Andrew Nelson Macken Chief compliance officer and managing member 1 Oct 2014 50% - 75% 2417288
Michael Kim Davis Managing partner 1 Oct 2014 50% - 75% 2577860
Jason Bradford Haviland Chief compliance officer 1 Oct 2017 Other 2823314

Based in Marion

The principal office where Cottage Street Advisors, LLC performs its advisory services is located at 9 Cottage Street, Marion, MA 02738 The mailing address of the firm is P.O. Box 249, Marion, MA 02738. An additional office of the firm is in Nashua, NH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 508-748-0709 or by fax 508-748-0710. The normal business hours are 8:30am - 5:30pm on Monday - Friday.