WELCH & FORBES LLC

Welch & Forbes LLC is an investment management firm based out of Boston, Massachusetts. The company was established in 1838 and has grown from its inception to now have 53 employees of which 13 are investment professionals. Welch & Forbes operates as a subsidiary of Affiliated Managers Group, Inc. and is headed by President John H. Emmons. The company conducts its research internally, investing in the public equity markets within the U.S. Welch & Forbes offers a variety of investment and wealth management services including investment portfolio management, person trust and fiduciary services, estate planning and administration, and tax and custodial services. The company invests most heavily in the information technology sector, which alone makes up over a sixth of its total asset allocations, and also invests in the health care, finance, consumer discretionary, industrials, consumer staples, and energy sectors, among other sectors to a lesser degree, in order of decreasing allocation. Welch & Forbes allocates its assets diversely with none of its holdings exceed 3% of its total holdings. The company’s top 10 holdings together make up just over a fifth of its total holdings and the company has a relatively low turnover rate of approximately 5.4%. Welch & Forbes holds over $4.1 billion in total assets under management spread across approximately 2,500 accounts, all of which are discretionary accounts except for 128 accounts which make up $350 million of its managed assets. Both of the company’s total number of accounts and total assets under management have been increasing in recent years with its total managed assets growing from $2.7 billion back in 2010 to its amount today. Welch & Forbes mainly caters to high net worth individuals, which alone makes up over half of its entire client base, and also provides its services to individuals, pension and profit sharing plans, charities, and corporations, in order of decreasing allocation.