93 Financial Group, LLC

CRD#144235
Investment Advisor Firm

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Learn more about 93 Financial Group, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    93 Financial Group, LLC operates as a financial advisor firm that has its headquarters in Woburn, Massachusetts. The company administers $563.7 million in assets under management across 2,397 accounts, placing it among the larger investment advisory firms in the country by assets under management (AUM). The firm has a small team, including 5 financial advisors. 93 Financial Group, LLC is not a registered broker-dealer, meaning the company cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are tradable financial investments such as options, bonds and stocks.

    93 Financial Group, LLC oversees all of the firm's client assets in a discretionary manner. Discretionary management is a structure in which buy and sell judgments for the client's account are made by an investment advisor without requiring client authorization. The firm oversees roughly $235,167 for every customer account. The typical financial advisor at 93 Financial Group, LLC administers around 479 client accounts.

    The firm's headquarters is located at 600 Unicorn Park Drive, Woburn, Massachusetts 1801. The company is permitted to serve customers across 9 states, including California, Connecticut, Florida, Maine, Massachusetts, New Hampshire, Pennsylvania, Rhode Island and Texas.

    Assets Under Management

    $563.7 million

    Number of Advisors

    5

    Disclosures

    No

    Office Location

    600 Unicorn Park Drive
    Woburn, MA 01801

    93 Financial Group, LLC by the Numbers

    Total Assets Under Management

    $563.7 million

    National Average: $8.6 billion
    Total Number of Employees

    8

    National Average: 64
    Total Number of Accounts

    2,397

    National Average: 375,227
    Average Account Size

    $235.2 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial services that 93 Financial Group, LLC offers can include financial planning services and portfolio management for individuals and small businesses. In the past fiscal year, 93 Financial Group, LLC provided financial planning services to 11-25 of its customers. 93 Financial Group, LLC is involved in selling products or offering services aside from investment advisory services to its clients.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

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    Fee Structure

    A financial advisor's fees largely depend on the financial services provided. However, fees billed by 93 Financial Group, LLC typically consist of the following fee structure: asset-based. 93 Financial Group, LLC does not participate in a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 32% of firms that offer this fee type

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    It provides services to retail investors and high net worth investors. Out of its 2,397 customers, 93 Financial Group, LLC's biggest client type by number of accounts is retail investors, although it also serves 136 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of its clients are non-U.S. persons.

    • High-Net-Worth Individuals* - 11.81%
    • Other Individuals - 88.19%
    • Corporations - 0%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    93 Financial Group, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at 93 Financial Group, LLC

    David Baker
    Woburn, MA
    John Welch
    Woburn, MA
    Paul Welch
    Woburn, MA
    Lawrence Welch
    Woburn, MA
    James Welch
    Woburn, MA

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    The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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