Essex Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, education planning, and insurance. Financial planning was provided to 1–10 clients last fiscal year.
Essex Financial Services reports 2,963 clients. They include 1,885 individual clients, 895 high-net-worth individuals, and 108 pension and profit-sharing plans. Of its assets, 77.9% ($3.25B across 6,417 accounts) are managed with discretion; $923M across 726 accounts are not. Of its clients, 1% are outside the U.S. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 64% | 14% |
| High-net-worth individuals | 30% | 69% |
| Pension and profit-sharing plans | 4% | 14% |
| Charitable organizations | 2% | 3% |
| State or municipal government entities | Fewer than 5 | <1% |
| Other client typesCorporations and other businesses | <1% | 1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,885 | $581M | 13.9% | $308K |
| High-net-worth individuals | 895 | $2.87B | 68.8% | $3.21M |
| Pension and profit-sharing plans | 108 | $565M | 13.6% | $5.23M |
| Charitable organizations | 60 | $104M | 2.5% | $1.74M |
| State or municipal government entities | Fewer than 5 | $5.47M | 0.1% | — |
| Corporations and other businesses | 15 | $43.5M | 1.0% | $2.9M |
| Total | 2,963 | $4.17B | 100% | — |
- Clients
- 1,885
- Regulatory AUM
- $581M
- AUM share
- 13.9%
- Avg. per client
- $308K
- Clients
- 895
- Regulatory AUM
- $2.87B
- AUM share
- 68.8%
- Avg. per client
- $3.21M
- Clients
- 108
- Regulatory AUM
- $565M
- AUM share
- 13.6%
- Avg. per client
- $5.23M
- Clients
- 60
- Regulatory AUM
- $104M
- AUM share
- 2.5%
- Avg. per client
- $1.74M
- Clients
- Fewer than 5
- Regulatory AUM
- $5.47M
- AUM share
- 0.1%
- Avg. per client
- —
- Clients
- 15
- Regulatory AUM
- $43.5M
- AUM share
- 1.0%
- Avg. per client
- $2.9M
Total
- Clients
- 2,963
- Regulatory AUM
- $4.17B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Essex Financial Services charges 0.50%–1.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Services
- Financial planning is billed hourly at $75 to $250 an hour or as a fixed fee of $250 to $5,000, negotiable; up to 50% may be invoiced at signing.
Essex Bank owns 75% or more of Essex Financial Services. Charles Cumello is CEO; the leadership team includes Chief Operating Officer Susan Roth and Chief Compliance Officer Nancy Stillman. It has 46 employees, 42 of them in advisory roles.
Leadership
- Charles CumelloPresident & Chief Executive Officer, Director
- Susan RothChief Operating Officer, Treasurer, Secretary
- Nancy StillmanChief Compliance Officer
- John BauerDirector
- Mary Emelia BooneDirector
- Lynn GirouxDirector
- Bruce Michael GlowacDirector
- Stephen Deane GreshamDirector
- Geoffrey Lee JacobsonDirector
- Ronald NelsonDirector
- Douglas Williams PaulChairman
Investment adviser representatives
33 representatives listed in the SEC register as of 9 October 2026.
- Stephen Worth Bates
- Julie Belknap Bauman
- Owen W Bregman
- Dennis M Cadwell
- John Costello
- Charles Robert Cumello Jr
- Dave Richard Delfino
- David Cummings Donaldson JR
- Gabriel M Flugrad
- Sean Francis Flynn
- Anthony Joseph Fortuna
- William Timothy Furgueson
- Cherish Lyn Genova
- Robert M Girvin
- Kristin Elizabeth Green
- Elizabeth Antoinette Haas
- Jeffrey Wendell Jones JR
- David Francis LaMay
- Michael R LaRiviere
- Kevin Joseph Looby
- Jeffrey Kohl Ludka
- Robert J. Marcinek
- Lisa B McMinn
- Nathaniel Francis Morris
- Nicholas Luke Naumann
- Kevin Joseph Nolan
- Susan K Roth
- Anthony Gennaro Russo
- Nancy Stillman
- James Michael Sullivan
- William Michael Tait
- Anthony Joseph Vocalina III
- Courtney Hughes Walsh
Staff
- 46 employees
- 42 in advisory functions
- 30 state-registered reps
- 8 broker-dealer reps
- 30 insurance agents
- Owns 75% or more of Essex Financial Services, Inc.
Essex Bank
Control person · since April 2003
Essex Financial Services’ regulatory assets grew 1.8× from $2.27B (April 2021) to $4.17B (August 2026); clients rose from 2,499 to 2,963 and employees from 36 to 46.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $4.17B | 2,963 | 46 | 4 |
| June 2025 | $3.77B | 2,967 | 45 | 4 |
| July 2024 | $3.38B | 2,828 | 41 | 4 |
| January 2023 | $2.77B | 2,715 | 41 | 3 |
| December 2021 | $3.08B | 2,555 | 39 | 3 |
| April 2021 | $2.27B | 2,499 | 36 | 3 |
Besides its headquarters, Essex Financial Services has 3 offices, with 4 listed addresses in Connecticut.
Connecticut · 4 listed addresses
- 176 Westbrook Road, EssexHQ
- 10 Waterside Drive, Farmington
- 30 Jelliff Lane, Southport
- 99 Durham Road, Madison
Other business names
Essex Financial Services has reported 1 other business name to the SEC.
- Essex Financial
Contact and registration details
- Legal name
- Essex Financial Services, Inc.
- Headquarters
- 176 Westbrook Road, Essex, CT 06426
- Website
- essexfinancialservices.net
- Phone
- 860-767-4300
- @essex-financial-services-inc
- SEC file
- 801-62242
- Founded
- 2003
- Structure
- Connecticut corporation
- Fiscal year end
- September
Essex Financial Services uses Fidelity ($3.4B, 94%) and Pershing ($217M, 6%) as custodians for its separately managed accounts. Essex Financial Services has custody of client assets.
- PershingPershing LLC · Jersey City, NJ · $217M6%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $3.4B94%
At year end, Essex Financial Services’ separately managed accounts were largely in stocks (45%) and funds (44%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.01B across 836 positions; the largest are Apple Inc. (4.6%), Invesco Qqq TR (3.5%) and Vanguard Admiral Fds Inc. (2.2%).
What the accounts hold
- Stocks45%
- Funds44%
- Bonds3%
- U.S. government and agency bonds2%
- State and local bonds1%
- Cash8%
Reported 13F holdings
- $2.01B
- Reported 13F value
- 836
- Positions
- 22.2%
- In the 10 largest
- +12.6%
- Value vs. prior quarter
- Apple Inc.4.6%
- Invesco Qqq TR · Unit Ser 13.5%
- Vanguard Admiral Fds Inc. · 500 Grth Idx F2.2%
- Microsoft Corp.2.0%
- Alphabet Inc. · Cap Stk CL A2.0%
- Nvidia Corporation1.8%
- State Str SPDR S&P 500 ETF T · TR Unit1.7%
- iShares TR · Core S&P500 ETF1.5%
- SPDR Gold TR · Gold Shs1.4%
- Vanguard Whitehall Fds · High Div Yld1.4%
Together, the ten largest are 22.2% of reported value.
How many clients does Essex Financial Services have?
Essex Financial Services has 2,963 clients and manages $4.17 billion for them, as of August 2026. They include 1,885 individual clients, 895 high-net-worth individuals, and 108 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 August 2026
What services does Essex Financial Services offer?
Essex Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, education planning, and insurance.
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 Essex Financial Services charge?
Essex Financial Services charges 0.50%–1.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable.
Source: ESSEX FINANCIAL FORM ADV PART 2A, filed 25 August 2026
Which custodians does Essex Financial Services use?
Essex Financial Services’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $3.4B and Pershing LLC (Jersey City, NJ), with $217M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 August 2026
How many financial advisors does Essex Financial Services have?
Essex Financial Services has 30 investment adviser representatives registered with state securities authorities, out of 46 employees, and 42 perform investment advisory functions. 8 employees are registered representatives of a broker-dealer and 30 employees are 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 Essex Financial Services invest in?
At the end of its last fiscal year, Essex Financial Services’ separately managed accounts held 45% exchange-traded equities, 44% registered funds (mutual funds, ETFs, BDCs), 8% cash and equivalents, 2% U.S. government and agency bonds and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Essex Financial Services?
Essex Financial Services’ direct owner is Essex Bank (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 25 August 2026
How does Essex Financial Services get paid?
Essex Financial Services 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 Essex Financial Services?
Essex Financial Services’ main office is at 176 Westbrook Road, Essex, CT 06426. Its phone number is 860-767-4300. Its website is essexfinancialservices.net.