{"url":"https://nivawealth.com/firms/income-research-management-104863","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/104863","regulatoryAum":130653386930,"crd":"104863","secFileNumber":"801-29482","legalName":"Income Research + Management","displayName":"Income Research + Management","website":"http://www.incomeresearch.com/","linkedinUrl":"https://www.linkedin.com/company/income-research-&-management/","founded":null,"organization":"Delaware corporation","fiscalYearEnd":"December","headquarters":{"street":"115 Federal Street, 22nd Floor","city":"Boston","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02110-1884"},"tradeNames":[],"registration":{"secApproved":"1 May 1987","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":218,"advisory":63,"brokerDealerReps":5,"insuranceAgents":0,"promoters":1},"aum":{"discretionary":130114432508,"discretionaryAccounts":1556,"nonDiscretionary":538954422,"nonDiscretionaryAccounts":3,"wrapProgram":null,"nonUsClientsPct":3,"nonAumClients":0},"clientTypes":[{"label":"High-net-worth individuals","clients":454,"regulatoryAum":5079706430},{"label":"Banking or thrift institutions","clients":null,"regulatoryAum":117732145},{"label":"Investment companies","clients":12,"regulatoryAum":5977073991},{"label":"Pooled investment vehicles","clients":32,"regulatoryAum":24676562905},{"label":"Pension and profit-sharing plans","clients":118,"regulatoryAum":24396020772},{"label":"Charitable organizations","clients":165,"regulatoryAum":25842296499},{"label":"State or municipal government entities","clients":44,"regulatoryAum":17813859500},{"label":"Insurance companies","clients":92,"regulatoryAum":21948251140},{"label":"Corporations and other businesses","clients":20,"regulatoryAum":4801883548}],"fees":[],"feeNotes":[],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"The Northern Trust Company","shortName":"The Northern Trust","location":"Chicago, IL","smaAssets":27630741586},{"name":"State Street Bank and Trust Company","shortName":"State Street Bank and Trust","location":"Boston, MA","smaAssets":15878386604},{"name":"The Bank of New York Mellon","shortName":"The Bank of New York Mellon","location":"New York, NY","smaAssets":30646807664}],"custodyNote":"Income Research + Management has custody of $13.65B for 15 clients.","otherCustodians":[],"leadership":[{"name":"William O'Malley","title":"Chief Executive Officer, Director","crd":"1859293"},{"name":"Erinn King","title":"President","crd":"6255606"},{"name":"Meghan Driscoll","title":"Chief Financial Officer, Co-Head of Client Team","crd":"5356590"},{"name":"Mark D'Alfonso","title":"Chief Operating Officer","crd":"8243731"},{"name":"Richard Kizik","title":"Chief Compliance Officer","crd":"4919465"},{"name":"Matthew Cannata","title":"General Counsel, Secretary","crd":"6529304"},{"name":"Massimo Desantis","title":"Senior Portfolio Manager, Co-Director of Portfolio Management","crd":"7358292"},{"name":"Deborah Goldstein","title":"Director","crd":"7525626"},{"name":"James Gubitosi","title":"Co-Chief Investment Officer","crd":"6529313"},{"name":"Sarah Kilpatrick","title":"Chief of Staff","crd":"6529315"},{"name":"William Lawrence","title":"Director","crd":"1412094"},{"name":"Michael Miles","title":"Director","crd":"1669026"},{"name":"William O'Neill","title":"Senior Portfolio Manager, Co-Director of Portfolio Management","crd":"8063897"},{"name":"Michael Sheldon","title":"Co-Chief Investment Officer","crd":"4931141"},{"name":"John Sommers JR.","title":"Executive Chair, Director","crd":"1410206"},{"name":"Elizabeth Taylor","title":"Director","crd":"6316608"},{"name":"Dune Thorne","title":"Director","crd":"2924357"}],"ownership":[{"label":"John A. Sommers, JR. Revocable Trust of 1995","detail":"Owner in the 25% to 50% ownership band and a control person, since June 1995."},{"label":"William O'Malley","detail":"Chief executive officer, director in the 10% to 25% ownership band and a control person, since March 2025."},{"label":"John A. Sommers Revocable Trust of 2020","detail":"Owner in the 5% to 10% ownership band and a control person, since January 2025."},{"label":"John Sommers JR.","detail":"Indirect owner: trustee of John A. Sommers, JR. Family Trust DTD 07/31/2006 and a control person, since August 2011. Also trustee of John A. Sommers, JR. Revocable Trust of 1995 and a control person, since June 1995.","parent":"John A. Sommers, JR. Family Trust DTD 07/31/2006"},{"label":"Robert Sommers","detail":"Indirect owner: trustee of Robert F. Sommers Revocable Trust of 1995 and a control person, since December 2006. Also trustee of Robert F. Sommers Family Trust DTD 07/31/2006 and a control person, since August 2011.","parent":"Robert F. Sommers Revocable Trust of 1995"},{"label":"Kenneth Sommers","detail":"Indirect owner: trustee of Kenneth T. Sommers Family Trust DTD 07/31/2006 and a control person, since August 2011. Also trustee of Kenneth T. Sommers Revocable Trust of 1995 and a control person, since December 2006.","parent":"Kenneth T. Sommers Family Trust DTD 07/31/2006"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"officesByState":[{"state":"Massachusetts","offices":1,"addresses":[{"street":"115 Federal Street, 22nd Floor","city":"Boston","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"617-330-9333","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":"0","assetMix":[{"label":"U.S. government/agency bonds","percent":35},{"label":"U.S. state and local bonds","percent":7},{"label":"Investment grade corporate bonds","percent":42},{"label":"Cash and cash equivalents","percent":1},{"label":"Other","percent":13,"detail":"Other Is Primarily Comprised of Asset-Backed Securities, Commercial Mortgage-Backed Securities, and Non-Agency Residential Mortgage Backed Securities."}],"privateFunds":15},"sources":{"adv1FilingDate":"24 August 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/104863/PDF/104863.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Income Research + Management have?","answer":"Income Research + Management has 937 clients and manages $130.7 billion for them, as of August 2026. They include 454 high-net-worth individuals, 165 charitable organizations and 118 pension and profit-sharing plans.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 24 August 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Income Research + Management offer?","answer":"Income Research + Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Income Research + Management use?","answer":"Income Research + Management’s separately managed account assets are held at The Bank of New York Mellon (New York, NY), with $30,646,807,664, The Northern Trust Company (Chicago, IL), with $27,630,741,586 and State Street Bank and Trust Company (Boston, MA), with $15,878,386,604. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 August 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Income Research + Management have?","answer":"Income Research + Management has 0 investment adviser representatives registered with state securities authorities, out of 218 employees, and 63 perform investment advisory functions. 5 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Income Research + Management invest in?","answer":"At the end of its last fiscal year, Income Research + Management’s separately managed accounts held 42% investment grade corporate bonds, 35% U.S. government and agency bonds, 13% other is primarily comprised of asset-backed securities, commercial mortgage-backed securities, and non-agency residential mortgage backed securities., 7% state and local bonds and 1% cash and equivalents. It advises 15 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Income Research + Management?","answer":"Income Research + Management’s direct owners are John A. Sommers, JR. Revocable Trust of 1995, William O'Malley and John A. Sommers Revocable Trust of 2020, each holding 50% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 24 August 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Income Research + Management get paid?","answer":"Income Research + Management is paid through a percentage of assets under management. 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","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/income-research-management-104863/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-07-24","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1165830/000121465926008874/0001214659-26-008874-index.html","totalValue":184480653,"positionCount":30,"top10Share":0.515825721844122,"top10":[{"issuer":"BOFA FIN LLC","titleOfClass":"MTNF  0.600% 5/2","cusip":"09709UV70","value":10684020,"shares":8503000,"shareType":"SH","priorValue":11724388,"priorShares":9803000},{"issuer":"EURONET WORLDWIDE INC","titleOfClass":"NOTE  0.750% 3/1","cusip":"298736AL3","value":10265626,"shares":12112000,"shareType":"SH","priorValue":10222528,"priorShares":12112000},{"issuer":"UBER TECHNOLOGIES INC","titleOfClass":"NOTE  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Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}