Principle Wealth Partners LLC (Madison)

Name: Principle Wealth Partners LLC
Address: 670 Boston Post Road, Madison, CT, 06443
Telephone: 203-318-8892

Principle Wealth Partners LLC is a large advisory firm based in Madison. It manages $700.22 million of regulatory assets for 934 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Colorado, Connecticut, Florida, and 8 other states.

Principle Wealth Partners provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Principle Wealth Partners: assets under management

The assets under management (AUM) of Principle Wealth Partners LLC is $700.22 million. The firm's AUM has grown by 20% since the beginning of its operation, and $2.76 million of the total AUM is attributable to clients outside of the United States.

The firm manages $624.64 million in discretionary accounts and $75.58 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $728.02 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $994.52 thousand.

Principle Wealth Partners has custody of $35.77 million in cash and securities for 18 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 51% of the total AUM. The second-largest asset type is exchange traded securities, which make up 43% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Principle Wealth Partners LLC for their services and products based on a percentage of assets under management. 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 Principle Wealth Partners serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Principle Wealth Partners is high net worth individuals with 142 clients and $651.56 million of assets under management. Among the 6 most similar advisory firms, Principle Wealth Partners has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $700.22 million for 265 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.

Principle Wealth Partners doesn't advise any private funds.

Careers at Principle Wealth Partners LLC

The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 6 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Paolucci	Manager, member, and portfolio manager	1 Oct 2017	75% - 100%	4292225
Michael Joseph Castiello	Chief compliance officer and portfolio manager	1 Oct 2017	Other	6382294
Patricia Lynn Brady	Chief operating officer	1 Feb 2019	Other	2330553

Based in Madison

The principal office where Principle Wealth Partners LLC performs its advisory services is located at 670 Boston Post Road, Madison, CT 06443 The mailing address of the firm is Po Box 1007, Madison, CT 06443. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 203-318-8892 or by fax 203-318-8898. 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 principlewealthpartners.com.