Cutler Capital Management LLC (Worcester)


Cutler Capital Management LLC is a large advisory firm based in Worcester. It manages $282.82 million of regulatory assets for 183 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Florida, Massachusetts, New Hampshire, and New York.

Cutler Capital Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cutler Capital Management: assets under management

The assets under management (AUM) of Cutler Capital Management LLC is $282.82 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 215% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $282.82 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.55 million each.
Cutler Capital Management has custody of $89.16 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 42% of the total AUM. The second-largest asset type is exchange traded securities, which make up 38% of the firm’s portfolio. Investments in non-exchange traded securities form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cutler Capital Management LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Geoffrey Dancey serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Geoffrey Dancey is high net worth individuals with 53 clients and $142.1 million of assets under management. Among the 7 most similar advisory firms, Cutler Capital Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $282.82 million for 96 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Cutler Capital Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Cutler Capital Management LLC

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 2 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.

Geoffrey Dancey has been acting as President since 1 Jun 2006. Melvin S. Cutler 2008 Revocable Trust joined the executive team most recently as the Sole Shareholder.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Melvin Stanley Cutler Chief investment officer & chief compliance officer 1 Jul 1999 50% - 75% 4380174
David Norbert Grenier President 1 Jun 2003 Other 4348080
Cutler Limited Partnership I Equity owner 1 Jan 2004 Other 04-2794489
Geoffrey Dancey President 1 Jun 2006 Other 4744852
Geoffrey Kristopher Allan Dancey President, chief compliance officer, member 1 Jun 2006 25% - 50% 4744852

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Cutler Lp I Corp. Equity owner 1 Jan 2004 Other 04-3476124
Melvin S. Cutler 2008 Revocable Trust Sole shareholder 1 Aug 2010 75% - 100% xxx-xx-xxxx
Melvin Stanley Cutler Trustee 1 Aug 2010 75% - 100% 4380174

Based in Worcester

The principal office where Cutler Capital Management LLC performs its advisory services is located at 306 Main St, Worcester, MA 01608 1518, which is also the mailing address of the firm. An additional office of the firm is in Clearwater, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 508-757-4455 or by fax 508-757-4466. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at cutlercapital.com and its LinkedIn profile.