Mellon

CRD#105764
Investment Advisor Firm

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Overview

Mellon is an advisory firm that has its headquarters in Boston, Massachusetts. Mellon administers $442.4 billion in assets under management throughout 3,549 customer accounts, making it one of the largest financial advisory firms in the United States by assets under management (AUM). The firm has a large group of 520 employees, including 173 financial advisors. Mellon is not a registered broker-dealer, signifying that it cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are exchangable financial investments like equities, bonds and options.

Mellon oversees the majority of its client assets in a discretionary manner. Discretionary management signifies that transaction decisions are made by a portfolio manager without needing the customer's approval. The firm also oversees 42 non-discretionary accounts totaling $7.9 billion in assets. The firm oversees an average of $124.5 million for each account. An average advisor at Mellon oversees around 21 client accounts, placing it among the more individualized financial advisor firms in the country.

The company's headquarters is at 201 Washington Street, Boston, Massachusetts 2108. The company is registered to provide services to investors across 51 U.S. states and territories.

Number of Advisors

173

Disclosures

No

Office Location

201 Washington Street
Boston, MA 02108

Mellon by the Numbers

Total Number of Employees

520

National Average: 4,943
Total Number of Accounts

3,549

National Average: 2,522
Average Account Size

$124.6 million

National Average: $1.3 million

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Fee Structure

Financial management fees depend on which services the firm provides the client. Fees charged by the firm can be comprised of any combination of the following fee types: asset-based, fixed, performance-based or other. The firm does participate in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 75% 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.

  • Offered by 17% of firms

    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.

  • Offered by 40% of firms

    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.

  • Offered by 12% of firms

    Other

    Show Explanation

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

Unavailable

  • Find one of the 37% 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 3% 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 1% 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.

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Types of Clients

The firm does business with a broad range of customers. Mellon works with high net worth investors, banking institutions, investment companies, business development companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, insurance companies, sovereign wealth funds, corporations and other types of clients. Out of its 3,549 accounts, Mellon's largest client group by number of accounts is pension plans, though it also manages money for 60 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 2% of the company's clients are from outside of the U.S.

  • High-Net-Worth Individuals* - 7.21%
  • Other Individuals - 0%
  • Corporations - 83.65%
  • Charitable Organizations - 9.13%

* 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

Mellon does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA