Loring, Wolcott & Coolidge Fiduciary Advisors, LLP
Loring, Wolcott & Coolidge Fiduciary Advisors, LLP (LWC) is a multi-family office firm that specializes in socially responsible investing. The firm also primarily serves high-net-worth individuals.
LWC has billions in assets under management (AUM), and the fee-only firm serves both individual and institutional clients. When it comes to advisory fees, it charges asset-based fees and fixed fees. The firm’s staff of advisors includes several chartered financial analysts (CFAs).
Loring Wolcott & Coolidge Background
LWC was established in 1994 so that the trustees of Loring Wolcott & Coolidge Office could provide investment advice to trusts and other investment accounts. These trustees don’t act as fiduciaries for these accounts, so partners of the firm help to provide investment advice under a fiduciary obligation.
LWC is owned by a group of 17 partners, none of whom own more than a 10% stake in the business. These partners include the trustees of the Loring, Wolcott & Coolidge Office, three former trustees and one former senior manager.
Loring Wolcott & Coolidge Client Types and Minimum Account Sizes
LWC serves high-net-worth individuals, pension and profit sharing plans, trusts, foundations, endowments and other entities.
The firm imposes a minimum account size requirement of $2 million.
Services Offered by Loring Wolcott & Coolidge
LWC's breadth of services includes portfolio management, family office services, estate planning and settlement, financial planning, tax planning and preparation as well as philanthropic strategies.
Loring Wolcott & Coolidge Investment Philosophy
LWC says in its brochure that it focuses on buying and holding high-quality growth stocks for the long term. The firm also believes that low turnover is crucial to producing after-tax returns on taxable accounts. LWC generally uses independent sub-advisors and internal research analysts to make investment selections.
LWC invests in exchange-traded equity securities, non-exchange-traded equity securities, U.S. government bonds, securities issued by registered investment companies or business development companies, cash, cash equivalents and other investments.
Loring Wolcott & Coolidge Fees
LWC charges both a principal fee and an income fee for trusts and investment accounts. The principal fee is a graduated fee based on assets under management (AUM), and a 5% income fee is charged on all interest and dividends earned, according to LWC. See the standard fee schedule below:
|Principal fee schedule for portfolio management|
|Amount of assets||Fee|
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Loring Wolcott & Coolidge*|
|Your Assets||Loring Wolcott & Coolidge Fee Amount|
Learn more about advisors' typical costs here.
What to Watch Out For
LWC doesn’t have any disclosures listed on its Form ADV, and the firm doesn’t charge any hidden fees or earn commissions from investment products. However, the firm’s $2 million account minimum may be high for some.
Opening an Account with Loring Wolcott & Coolidge
You can set up an account with LWC by visiting the firm’s Boston office or you can contact the firm at (617)523-6531.
All information is accurate as of the writing of this article.
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