Aequitas Investment Advisors provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, and philanthropic planning. Financial planning was provided to 101–250 clients last fiscal year.
Aequitas Investment Advisors reports 189 clients. They include 147 high-net-worth individuals, 33 individual clients and 9 charitable organizations. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $826M across 1,238 accounts are not. It advised 3 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 17% | 2% |
| High-net-worth individuals | 78% | 84% |
| Charitable organizations | 5% | 14% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 33 | $19.2M | 2.3% | $580K |
| High-net-worth individuals | 147 | $690M | 83.6% | $4.7M |
| Charitable organizations | 9 | $117M | 14.1% | $13M |
| Total | 189 | $826M | 100% | $4.37M |
- Clients
- 33
- Regulatory AUM
- $19.2M
- AUM share
- 2.3%
- Avg. per client
- $580K
- Clients
- 147
- Regulatory AUM
- $690M
- AUM share
- 83.6%
- Avg. per client
- $4.7M
- Clients
- 9
- Regulatory AUM
- $117M
- AUM share
- 14.1%
- Avg. per client
- $13M
Total
- Clients
- 189
- Regulatory AUM
- $826M
- AUM share
- 100%
- Avg. per client
- $4.37M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 3
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Aequitas Investment Advisors charges 0.35% a year for its Standard Reporting Service. The fee is billed in arrears. The brochure also prices 4 other services, listed under fee details.
Fee details and sources
Other fees
- Annual portfolio review
- Flat annual fee typically $2,000 to $15,000, half due at signing or renewal and half six months later.
- Consulting
- Consulting is billed hourly in some cases at $175 to $350 an hour, after an initial retainer.
- Financial planning
- The one-time written financial plan fee typically ranges from $3,500 to $10,000, half due at signing.
- Specialized Reporting Service
- Flat fee for complex portfolios, typically $3,000 to $50,000 a year, billed quarterly or semi-annually in advance.
Warner Henderson owns 50% to 75% of Aequitas Investment Advisors. The leadership team of Aequitas Investment Advisors includes Chief Compliance Officer Noreen Walsh. It has 8 employees, 5 of them in advisory roles.
Leadership
- Noreen WalshManaging Member / Chief Compliance Officer
- Spencer HendersonMember and Financial Planner / Director of Research
- Timothy NashPrincipal and Chief Portfolio Strategist
- Warner HendersonManaging Member
- Michelle FallonMember and Senior Financial Planner
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
Staff
- 8 employees
- 5 in advisory functions
- 5 state-registered reps
- Owns 50% to 75% of Aequitas Investment Advisors, LLC
Warner Henderson
Control person · since January 2006
- Owns 25% to 50% of Aequitas Investment Advisors, LLC
Noreen Walsh
Control person · since January 2007
- Owns 10% to 25% of Aequitas Investment Advisors, LLC
Timothy Nash
since June 2017
- Owns 5% to 10% of Aequitas Investment Advisors, LLC
Michelle Fallon
since August 2020
Aequitas Investment Advisors’ regulatory assets grew from $654M (March 2021) to $826M (March 2026); clients rose from 169 to 189 and employees from 7 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $826M | 189 | 8 | 1 |
| May 2025 | $766M | 187 | 7 | 1 |
| March 2024 | $709M | 184 | 7 | 1 |
| March 2023 | $608M | 179 | 7 | 1 |
| March 2022 | $685M | 177 | 7 | 1 |
| March 2021 | $654M | 169 | 7 | 1 |
Besides its headquarters, Aequitas Investment Advisors has 0 offices, with 1 listed address in Massachusetts.
Massachusetts · 1 listed address
- 175 Derby St, Suite 24, HinghamHQ
Contact and registration details
- Legal name
- Aequitas Investment Advisors, LLC
- Headquarters
- 175 Derby St, Suite 24, Hingham, MA 02043
- Website
- aequitas-inv.com
- Phone
- 781-740-1199
- SEC file
- 801-110328
- Founded
- 1991
- Structure
- Massachusetts LLC
- Fiscal year end
- December
Aequitas Investment Advisors uses Charles Schwab ($801M) as custodian for its separately managed accounts. Aequitas Investment Advisors has custody of $292M in client assets for 125 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Orlando, FL · $801M100%
At year end, Aequitas Investment Advisors’ separately managed accounts were mostly in funds (74%) and bonds (10%).
What the accounts hold
- Stocks8%
- Exchange-traded equities4%
- Non-exchange-traded equities4%
- Funds74%
- Bonds10%
- U.S. government and agency bonds6%
- State and local bonds4%
- Cash6%
- Other2%
- Variable annuities2%
How many clients does Aequitas Investment Advisors have?
Aequitas Investment Advisors has 189 clients and manages $826 million for them, as of March 2026. They include 147 high-net-worth individuals, 33 individual clients and 9 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Aequitas Investment Advisors offer?
Aequitas Investment Advisors provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, and philanthropic planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Aequitas Investment Advisors charge?
Aequitas Investment Advisors charges 0.35% a year for its Standard Reporting Service. The fee is billed in arrears.
Source: PART 2A OF FORM ADV: FIRM BROCHURE, filed 27 March 2026
Which custodians does Aequitas Investment Advisors use?
Aequitas Investment Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Orlando, FL), with $801M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 March 2026
How many financial advisors does Aequitas Investment Advisors have?
Aequitas Investment Advisors has 5 investment adviser representatives registered with state securities authorities, out of 8 employees, and 5 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Aequitas Investment Advisors invest in?
At the end of its last fiscal year, Aequitas Investment Advisors’ separately managed accounts held 74% registered funds (mutual funds, ETFs, BDCs), 6% U.S. government and agency bonds, 6% cash and equivalents, 4% exchange-traded equities, 4% non-exchange-traded equities, 4% state and local bonds and 2% other. The 2% other category is described as: Variable Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Aequitas Investment Advisors?
Aequitas Investment Advisors’ direct owners are Warner Henderson (50% to 75%), Noreen Walsh (25% to 50%), Timothy Nash (10% to 25%) and Michelle Fallon (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Aequitas Investment Advisors get paid?
Aequitas Investment Advisors is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Aequitas Investment Advisors?
Aequitas Investment Advisors’ main office is at 175 Derby St, Suite 24, Hingham, MA 02043. Its phone number is 781-740-1199. Its website is aequitas-inv.com.