Mellon

CRD#105764
Investment Advisor Firm

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Overview

Mellon is an advisory firm based in Boston, Massachusetts. It has $442.4 billion in assets under management across 3,549 customer accounts, placing it among the largest financial advisory firms in the nation by assets under management (AUM). It has a large team of 520 employees, of which 173 are financial advisors. Mellon is not a registered broker-dealer, signifying that it is not able to buy and sell securities for its customers' and own accounts and instead has to go through a broker-dealer firm to do so. Securities are exchangable financial assets such as options, equities and bonds.

Mellon administers 3,507 of the company's accounts on a discretionary basis. Discretionary management is a structure in which transaction judgments are made by a portfolio manager without requiring client consent. The firm also oversees 42 non-discretionary accounts with a total of $7.9 billion in assets. Mellon's typical account size is $124.5 million. The average financial advisor at Mellon administers around 21 client accounts, making it one of the more individualized financial advisor firms in the country.

The firm's headquarters is at 201 Washington Street, Boston, Massachusetts 2108. Mellon is legally allowed to serve clients across 50 U.S. states and territories.

Assets Under Management

$442.4 billion

Number of Advisors

173

Disclosures

No

Office Location

201 Washington Street
Boston, MA 02108

Mellon by the Numbers

Total Assets Under Management

$442.4 billion

National Average: $3.3 billion
Total Number of Employees

520

National Average: 31
Total Number of Accounts

3,549

National Average: 1,935
Average Account Size

$124.6 million

National Average: $1.7 million

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Fee Structure

Fees charged by financial advisors usually vary depending on which services the firm provides the client. Fee types billed by the company can include the following fee structures: asset-based, fixed, performance-based or other. The firm does participate in a wrap fee program, in which the firm offers a service bundle for a single fee.

Available

  • Offered by 72% 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 39% 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 35% 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 2% 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 works with a broad range of clients. The firm caters to 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. Out of its 3,549 clients, Mellon's biggest client group by number of accounts is pension plans, although it also caters to 60 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM 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 accounts 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