Headinvest, LLC (Portland)

Name: Headinvest, LLC
Address: 7 Custom House St, Portland, ME, 04101 4194
Telephone: 207-773-5333

Headinvest, LLC is a large advisory firm based in Portland. It manages $568.94 million of regulatory assets for 770 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, Connecticut, Florida, and 6 other states.

Headinvest provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, educational seminars and workshops, and 401k education; outside investment analysis. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Headinvest: assets under management

The assets under management (AUM) of Headinvest, LLC is $568.94 million. The firm's AUM has grown by 14% since the beginning of its operation, and $5.42 million of the total AUM is attributable to clients outside of the United States.

The firm manages $558.17 million in discretionary accounts and $10.77 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $725.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $10.77 million.

Investments

The firm invests in exchange traded securities the most. They account for 53% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 15% of the firm’s portfolio. Investments in government bonds form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Headinvest, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Steven Adams Closson serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Steven Adams Closson is high net worth individuals with 154 clients and $445.32 million of assets under management. Among the 9 most similar advisory firms, Headinvest has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $568.94 million for 321 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Headinvest doesn't advise any private funds.

Careers at Headinvest, LLC

The company employs 12 people that are either part- or full-time employees. 58 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Steven Adams Closson has been acting as President since 1 Apr 2006. Carl Givens Gercke joined the executive team most recently as the Member And Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Adams Closson	Director	1 Apr 2006	Other	5136769
Dermot Thomas Healey	Director	1 Apr 2006	Other	240980
Pasquale Francis Maiorino	Director	1 Apr 2006	Other	5136778
James Andrew Platz	Director	1 Apr 2006	Other	5136781
Androscoggin Savings Bank	Owner and member llc	1 Apr 2006	75% - 100%	01-0020240
Ann Marie Mohammad	Vice president and chief compliance officer	1 Aug 2008	Other	5588185
Carl Givens Gercke	Executive vice president and director	1 Sep 2008	Other	2186285
Donald Lambing Head	Vice president and director	1 Apr 2009	Other	240919
Thomas Mckeen Cattell	Ceo and director	1 Apr 2009	Other	5600350
Paul Harvey Andersen	Director	1 Jan 2011	Other	5906322
Steven Edward Bonville	Director	1 Jan 2012	Other	1149704
Carl Givens Gercke	Managing director and chief compliance officer	1 Mar 2012	Other	2186285
C Dsk Llc	Owner and member llc	1 Aug 2013	75% - 100%	46-2935067

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Carl Givens Gercke	Member and managing director	1 Aug 2013	25% - 50%	2186285
Stephen Daniel Poulos	Member	1 Aug 2013	25% - 50%	2200533
Kenneth Andrew Blaschke	Member	1 Aug 2013	25% - 50%	2603041
Donna Dubois Mcconnell	Member	1 Aug 2013	25% - 50%	2337529
Robert Schofield Whitehead	Member	1 Aug 2013	Other	824633

Based in Portland

The principal office where Headinvest, LLC performs its advisory services is located at 7 Custom House St, Portland, ME 04101 4194, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 207-773-5333 or by fax 207-773-1735. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at headinvest.com.