Harborview Advisors, LLC (Portland)

Name: Harborview Advisors, LLC
Address: One City Center, Portland, ME, 04101
Telephone: 207-775-4900

Harborview Advisors, LLC is a large advisory firm based in Portland. It manages $174.29 million of regulatory assets for 762 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Florida, Maine, Massachusetts, New Hampshire, and New York.

Harborview Advisors provides portfolio management for individuals and small businesses and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Harborview Advisors: assets under management

The assets under management (AUM) of Harborview Advisors, LLC is $174.29 million. The firm's AUM has grown by 58% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $161.24 million in discretionary accounts and $13.05 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $239.94 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $144.99 thousand.

Harborview Advisors has custody of $572.46 thousand in cash and securities for 14 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 77% of the total AUM. The second-largest asset type is investment and business development companies, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Harborview Advisors, 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 William Robert Todd serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of William Robert Todd is high net worth individuals with 58 clients and $93.21 million of assets under management. Among the 9 most similar advisory firms, Harborview Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $172.68 million for 349 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.

Harborview Advisors doesn't advise any private funds.

Careers at Harborview Advisors, LLC

The company employs 6 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

William Robert Todd has been acting as President since 1 Sep 2014. Peter P Galloway joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Daryl Trenton Stong	Chief compliance officer and manager	1 Sep 2014	Other	3162995
Llc Harborview Investments	Managing member	1 Sep 2014	75% - 100%	81-0576979
William Robert Todd	President	1 Sep 2014	Other	2293194
Harry Marc Krigman	Principal	1 Sep 2014	Other	1210182
Peter P Galloway	Chief compliance officer	1 Mar 2018	Other	4830279

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Drew Erik Swenson	Managing member	1 Sep 2014	75% - 100%	6399044
Llc Hi Holdings	Member	1 Sep 2014	25% - 50%	03-0493233
Harry Marc Krigman	Owner	1 Nov 2015	25% - 50%	1210182
Daryl Trenton Stong	Owner	1 Nov 2015	25% - 50%	3162995
William Robert Todd	Owner	1 Nov 2015	25% - 50%	2293194

Based in Portland

The principal office where Harborview Advisors, LLC performs its advisory services is located at One City Center, Portland, ME 04101 The mailing address of the firm is Po Box 4658, Portland, ME 04112 4658. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 207-775-4900 or by fax 207-775-4119. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at harborviewinvestments.com/.