Harbor Investment Advisory provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 1–10 clients last fiscal year.
Harbor Investment Advisory reports 3,540 clients. They include 2,036 high-net-worth individuals, 1,321 individual clients and 80 charitable organizations. Of its assets, 53.2% ($3.65B across 2,911 accounts) are managed with discretion; $3.22B across 629 accounts are not. A wrap fee program the firm both sponsors and manages holds $4.06B. It advised 48 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 37% | 3% |
| High-net-worth individuals | 58% | 39% |
| Pension and profit-sharing plans | 2% | 15% |
| Charitable organizations | 2% | 40% |
| Corporations and other businesses | <1% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,321 | $224M | 3.3% | $169K |
| High-net-worth individuals | 2,036 | $2.67B | 38.8% | $1.31M |
| Pension and profit-sharing plans | 75 | $1B | 14.6% | $13.3M |
| Charitable organizations | 80 | $2.77B | 40.3% | $34.6M |
| Corporations and other businesses | 28 | $209M | 3.0% | $7.47M |
| Total | 3,540 | $6.87B | 100% | $1.94M |
- Clients
- 1,321
- Regulatory AUM
- $224M
- AUM share
- 3.3%
- Avg. per client
- $169K
- Clients
- 2,036
- Regulatory AUM
- $2.67B
- AUM share
- 38.8%
- Avg. per client
- $1.31M
- Clients
- 75
- Regulatory AUM
- $1B
- AUM share
- 14.6%
- Avg. per client
- $13.3M
- Clients
- 80
- Regulatory AUM
- $2.77B
- AUM share
- 40.3%
- Avg. per client
- $34.6M
- Clients
- 28
- Regulatory AUM
- $209M
- AUM share
- 3.0%
- Avg. per client
- $7.47M
Total
- Clients
- 3,540
- Regulatory AUM
- $6.87B
- AUM share
- 100%
- Avg. per client
- $1.94M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 48
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Harbor Investment Advisory is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
Harbor Investment Management, LLC owns 75% or more of Harbor Investment Advisory and is in turn owned by Hia Capital Holdings, LLC (50–75%). The leadership team of Harbor Investment Advisory includes President Robert Wilmer III Black and Chief Compliance Officer William Christopher Schadty. It has 35 employees, 30 of them in advisory roles.
Leadership
Robert Wilmer III BlackVice President
Fred Cregan Jr HillPresident
William Christopher SchadtyChief Compliance Officer
Raymond Patrick DeanTreasurer and Secretary, FINOP, Principal Financial Officer, Principal Operations Officer
Investment adviser representatives
31 representatives listed in the SEC register as of 9 October 2026.
- Emily Reynolds Allison
- Champe Seabury Andrews III
- Daniel Lawrence Baker
- Jack Lawrence Blum
- Arthur Patrick Boykin
- Geoffrey Philipp Burroughs
- James W Curran III
- Paul Michael Fox
- Scott Gaither Hahn
- John Thomas Halleron
- Douglas M. Holthaus
- Lisa Michell Howard
- Stephen John Kelly
- Fremont James Knittle III
- Katrina Marya Kunkler
- Peter M Marchineck
- Janet C Marquardt
- R. Matthew Williams Novak
- Jonathan Michael Osmun
- Gregory Edward Paranzino
- Ellen Marie Pierce
- Elias D. Poe IV
- Andrew William Sullivan
- Sean M Sundell
- Charles Russell Ward
- Jessie Lake Willinghan
- Jennifer Lowe Winslow
- Edward Hicks Worthington IV
Staff
- 35 employees
- 30 in advisory functions
- 30 state-registered reps
- 30 broker-dealer reps
- 14 insurance agents
- 1 soliciting firm
- Owns 75% or more of Harbor Investment Advisory, LLC
Harbor Investment Management, LLC
Control person · since June 2009
- Owns 50% to 75% of Harbor Investment Management, LLC
Hia Capital Holdings, LLC
Control person · since January 2026
- Owns 25% to 50% of Hia Capital Holdings, LLC
Robert Wilmer III Black
Control person · since June 2009
- Owns 25% to 50% of Hia Capital Holdings, LLC
Fred Cregan Jr Hill
Control person · since January 2015
Harbor Investment Advisory’s regulatory assets grew 1.9× from $3.7B (March 2021) to $6.87B (September 2026); clients rose from 2,675 to 3,540 and employees from 30 to 35.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $6.87B | 3,540 | 35 | 2 |
| March 2025 | $6B | 3,326 | 34 | 2 |
| March 2024 | $5.23B | 3,169 | 33 | 2 |
| March 2023 | $4.25B | 3,021 | 34 | 2 |
| April 2022 | $4.66B | 2,833 | 30 | 2 |
| March 2021 | $3.7B | 2,675 | 30 | 1 |
Besides its headquarters, Harbor Investment Advisory has 1 office, with 2 listed addresses in Maryland.
Maryland · 2 listed addresses
- 2330 W. Joppa Road, Suite 160, LuthervilleHQ
- 51 Monroe Place 19th Floor, Rockville
Contact and registration details
- Legal name
- Harbor Investment Advisory, LLC
- Headquarters
- 2330 W. Joppa Road, Suite 160, Lutherville, MD 21093
- Website
- harborinvestmentadvisory.com
- Phone
- 410-659-8900
- @harbor-investment-advisory-llc
- SEC file
- 801-70893
- Structure
- Maryland LLC
- Fiscal year end
- December
Harbor Investment Advisory uses Pershing ($3.72B) as custodian for its separately managed accounts. Harbor Investment Advisory has custody of $1.83B in client assets for 1,078 clients.
- PershingPershing LLC · Jersey City, NJ · $3.72B100%
At year end, Harbor Investment Advisory’s separately managed accounts were largely in stocks (39%) and funds (30%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.43B across 1,315 positions; the largest are Marriott Intl Inc. New CL A (13.8%), Apple Inc. (6.4%) and Alphabet Inc. Cap Stk CL A (4.2%).
What the accounts hold
- Stocks39%
- Funds30%
- Bonds15%
- U.S. government and agency bonds7%
- State and local bonds7%
- Investment grade corporate bonds1%
- Cash10%
- Other6%
- Annuities & insurance, hedge funds, uits6%
Reported 13F holdings
- $1.43B
- Reported 13F value
- 1,315
- Positions
- 38.3%
- In the 10 largest
- +12.9%
- Value vs. prior quarter
- Marriott Intl Inc. New CL A13.8%
- Apple Inc.6.4%
- Alphabet Inc. Cap Stk CL A4.2%
- Amazon Com Inc.3.8%
- Microsoft Corp.2.4%
- Berkshire Hathaway Inc. Del CL B New2.2%
- Alphabet Inc. Cap Stk CL C1.6%
- JPMORGAN Chase & CO1.3%
- iShares Core S&P 500 ETFETF1.3%
- Vanguard Total Stock Market ETFETF1.2%
Together, the ten largest are 38.3% of reported value.
How many clients does Harbor Investment Advisory have?
Harbor Investment Advisory has 3,540 clients and manages $6.87 billion for them, as of September 2026. They include 2,036 high-net-worth individuals, 1,321 individual clients and 80 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 September 2026
What services does Harbor Investment Advisory offer?
Harbor Investment Advisory provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Harbor Investment Advisory use?
Harbor Investment Advisory’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $3.72B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 September 2026
How many financial advisors does Harbor Investment Advisory have?
Harbor Investment Advisory has 30 investment adviser representatives registered with state securities authorities, out of 35 employees, and 30 perform investment advisory functions. 30 employees are registered representatives of a broker-dealer and 14 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 Harbor Investment Advisory invest in?
At the end of its last fiscal year, Harbor Investment Advisory’s separately managed accounts held 39% exchange-traded equities, 30% registered funds (mutual funds, ETFs, BDCs), 10% cash and equivalents, 7% U.S. government and agency bonds, 7% state and local bonds, 6% other and 1% investment grade corporate bonds. The 6% other category is described as: Annuities & Insurance, Hedge Funds, Uits.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Harbor Investment Advisory?
Harbor Investment Advisory is owned through a chain of holding companies by Robert Wilmer III Black and Fred Cregan Jr Hill. Its direct owner is Harbor Investment Management, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 1 September 2026
How does Harbor Investment Advisory get paid?
Harbor Investment Advisory 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 Harbor Investment Advisory?
Harbor Investment Advisory’s main office is at 2330 W. Joppa Road, Suite 160, Lutherville, MD 21093. Its phone number is 410-659-8900. Its website is harborinvestmentadvisory.com.