Welch & Forbes Llc
- Regulatory AUM
- $9.9B
- Discretionary
- $9.7B
- Clients
- 699
- Avg AUM / client
- $14.2M
- Accounts
- 3,734
- Employees
- 55
AUM over time
Annual snapshots from Form ADV filings · as of May 19, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 165 | $165M | 1.66% |
| High net worth individuals | 478 | $8.0B | 80.9% |
| Pooled investment vehicles (non-investment companies) | 2 | $6.9K | 0.0% |
| Pension and profit sharing plans | 4 | $8.6M | 0.09% |
| Charitable organizations | 26 | $157M | 1.59% |
| Other investment advisers | 2 | $1.5B | 15.3% |
| Corporations and other businesses | 22 | $44.9M | 0.45% |
Private funds (4)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $13.6K combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Welch & Forbes Private Equity Iii, Llc Series B | Private Equity Fund | Delaware | $5.5K | 14 |
| Welch & Forbes Private Equity Iii, Llc Series C | Private Equity Fund | Delaware | $4.4K | 10 |
| Welch & Forbes Private Equity Ii, Llc Series C | Private Equity Fund | Delaware | $2.5K | 8 |
| Welch & Forbes Private Equity Ii, Llc Series B | Private Equity Fund | Delaware | $1.2K | 8 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Sullivan & Worcester Llp Savings And Investment Plan Sullivan & Worcester Llp | 2024 |
People (6)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Ober, Theodore, Edward | Executive Vice President | Feb 2016 (11y) | Less than 5% | |
| Kelley Roche Ellis | Registered representative | May 2024 (2y) | ||
| Naomi Theresa D'alessandro | Registered representative | CFA | Nov 2024 (2y) | |
| Matthew Wood Johnson | Registered representative | CFP | Jun 2025 (1y) | |
| Bryan John Ciborowski | Registered representative | Jul 2025 (1y) | ||
| Justin T Wolstenholme | Registered representative | CFP | Jun 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Amg Wealth Partners, Lp | Manager And Sole Member | Jul 2012 | B | 75% or more of Amg Wf Holdings, Llc (indirect) |
| Amg Wp Lp Holdings, Llc | Limited Partner | Jun 2011 | B | 75% or more of Amg Wealth Partners, Lp (indirect) |
| Affiliated Managers Group, Inc. | Series A Member And Manager | Mar 2011 | B | 75% or more of Amg Wp Lp Holdings, Llc (indirect) |
| Amg Wp Gp Holdings Corp | General Partner | Sep 2012 | B | GP / trustee / elected manager of Amg Wealth Partners, Lp (indirect) |
Undisclosed: 95% – 100% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (4, $13.6K gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Welch & Forbes Private Equity Iii, Llc Series B | Private Equity Fund | $5.5K | $10.0K | 14 |
| Welch & Forbes Private Equity Iii, Llc Series C | Private Equity Fund | $4.4K | $10.0K | 10 |
| Welch & Forbes Private Equity Ii, Llc Series C | Private Equity Fund | $2.5K | $10.0K | 8 |
| Welch & Forbes Private Equity Ii, Llc Series B | Private Equity Fund | $1.2K | $10.0K | 8 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Sullivan & Worcester Llp Savings And Investment Plan | Sullivan & Worcester Llp | 197 | $118M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/19/2026 | 1.3 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Reliance Trust Company $7.9B (80% of AUM) May 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 19, 2026.
View current Form ADV (SEC/IAPD) ↗