E.p.g. provides portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters.
E.p.g. reports 72 clients. They include 48 banking or thrift institutions, 21 high-net-worth individuals and 3 charitable organizations. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $3.2B across 72 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 29% | 1% |
| Banking or thrift institutions | 67% | 98% |
| Charitable organizations | 4% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 21 | $43.7M | 1.4% | $2.08M |
| Banking or thrift institutions | 48 | $3.15B | 98.4% | $65.7M |
| Charitable organizations | 3 | $7.3M | 0.2% | $2.43M |
| Total | 72 | $3.2B | 100% | $44.5M |
- Clients
- 21
- Regulatory AUM
- $43.7M
- AUM share
- 1.4%
- Avg. per client
- $2.08M
- Clients
- 48
- Regulatory AUM
- $3.15B
- AUM share
- 98.4%
- Avg. per client
- $65.7M
- Clients
- 3
- Regulatory AUM
- $7.3M
- AUM share
- 0.2%
- Avg. per client
- $2.43M
Total
- Clients
- 72
- Regulatory AUM
- $3.2B
- AUM share
- 100%
- Avg. per client
- $44.5M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
E.p.g. is paid through a percentage of assets under management and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
David Thomas owns 50% to 75% of E.p.g.. The leadership team of E.p.g. includes President David Thomas and Chief Compliance Officer Daniel Dube. It has 11 employees, 4 of them in advisory roles.
Leadership
- David ThomasPresident, Director
- Daniel DubeChief Compliance Officer
- Mary-Laura GreelyDirector
- Jonathan RankinDirector
- Stella PangShareholder
- Allan DwyerShareholder
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
- Elizabeth Ann Loveless
- Nicholas William Papageorge
- Jonathan Alan Rankin
- David Lawrence Thomas
Staff
- 11 employees
- 4 in advisory functions
- 3 state-registered reps
- Owns 50% to 75% of E.p.g., Incorporated
David Thomas
Control person · since February 1996
- Owns 10% to 25% of E.p.g., Incorporated
Stella Pang
since February 1996
- Owns 10% to 25% of E.p.g., Incorporated
Allan Dwyer
since April 1996
E.p.g.’s regulatory assets grew from $2.94B (March 2021) to $3.2B (March 2026); clients were 72 in both filings and employees fell from 13 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $3.2B | 72 | 11 | 1 |
| March 2025 | $3.48B | 78 | 11 | 1 |
| March 2024 | $3.63B | 78 | 13 | 1 |
| March 2023 | $3.77B | 78 | 13 | 1 |
| April 2022 | $4.48B | 75 | 13 | 1 |
| March 2021 | $2.94B | 75 | 13 | 1 |
Besides its headquarters, E.p.g. has 0 offices, with 1 listed address in Massachusetts.
Massachusetts · 1 listed address
- 205 Newbury Street, Suite 403, FraminghamHQ
Contact and registration details
- Legal name
- E.p.g., Incorporated
- Headquarters
- 205 Newbury Street, Suite 403, Framingham, MA 01701
- Website
- epgadv.com
- Phone
- 781-235-2666
- SEC file
- 801-51518
- Structure
- Massachusetts corporation
- Fiscal year end
- December
E.p.g. uses FHLB/Citibank ($2.15B) as custodian for its separately managed accounts. E.p.g. does not have custody of client assets.
- FHLB/CitibankFHLB/Citibank · Boston, MA · $2.15B100%
At year end, E.p.g.’s separately managed accounts were mostly in bonds (92%).
What the accounts hold
- Stocks7%
- Bonds92%
- Sovereign bonds70%
- U.S. government and agency bonds14%
- State and local bonds7%
- Investment grade corporate bonds1%
- Cash1%
How many clients does E.p.g. have?
E.p.g. has 72 clients and manages $3.2 billion for them, as of March 2026. They include 48 banking or thrift institutions, 21 high-net-worth individuals and 3 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does E.p.g. offer?
E.p.g. provides portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does E.p.g. use?
E.p.g.’s separately managed account assets are held at FHLB/Citibank (Boston, MA), with $2.15B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does E.p.g. have?
E.p.g. has 3 investment adviser representatives registered with state securities authorities, out of 11 employees, and 4 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 E.p.g. invest in?
At the end of its last fiscal year, E.p.g.’s separately managed accounts held 70% sovereign bonds, 14% U.S. government and agency bonds, 7% exchange-traded equities, 7% state and local bonds, 1% investment grade corporate bonds and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns E.p.g.?
E.p.g.’s direct owners are Stella Pang (10% to 25%), Allan Dwyer (10% to 25%) and David Thomas (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does E.p.g. get paid?
E.p.g. is paid through a percentage of assets under management 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
Is E.p.g. registered with the SEC?
Yes, E.p.g. has been registered with the SEC as an investment adviser since 1 March 1996. Its CRD number is 106821 and its SEC file number is 801-51518.
Source: Form ADV Part 1A, Item 1, filed 26 March 2026; IAPD firm record
How do I contact E.p.g.?
E.p.g.’s main office is at 205 Newbury Street, Suite 403, Framingham, MA 01701. Its phone number is 781-235-2666. Its website is epgadv.com.