Twelve Points Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars. Financial planning was provided to 251–500 clients last fiscal year.
Twelve Points Wealth Management reports 821 clients. They include 511 individual clients, 202 pension and profit-sharing plans, and 83 high-net-worth individuals. Of its assets, 95.2% ($2.14B across 1,595 accounts) are managed with discretion; $108M across 333 accounts are not. A wrap fee program the firm both sponsors and manages holds $696M. Of its clients, 1% are outside the U.S. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 62% | 14% |
| High-net-worth individuals | 10% | 15% |
| Pension and profit-sharing plans | 25% | 70% |
| Charitable organizations | 1% | <1% |
| Corporations and other businesses | 1% | <1% |
| Other client typesOther | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 511 | $316M | 14.1% | $619K |
| High-net-worth individuals | 83 | $338M | 15.1% | $4.07M |
| Pension and profit-sharing plans | 202 | $1.57B | 69.8% | $7.76M |
| Charitable organizations | 9 | $6.18M | 0.3% | $687K |
| Corporations and other businesses | 12 | $16.9M | 0.8% | $1.41M |
| Other | Fewer than 5 | $2.08K | 0.0% | $520 |
| Total | 821 | $2.24B | 100% | — |
- Clients
- 511
- Regulatory AUM
- $316M
- AUM share
- 14.1%
- Avg. per client
- $619K
- Clients
- 83
- Regulatory AUM
- $338M
- AUM share
- 15.1%
- Avg. per client
- $4.07M
- Clients
- 202
- Regulatory AUM
- $1.57B
- AUM share
- 69.8%
- Avg. per client
- $7.76M
- Clients
- 9
- Regulatory AUM
- $6.18M
- AUM share
- 0.3%
- Avg. per client
- $687K
- Clients
- 12
- Regulatory AUM
- $16.9M
- AUM share
- 0.8%
- Avg. per client
- $1.41M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.08K
- AUM share
- 0.0%
- Avg. per client
- $520
Total
- Clients
- 821
- Regulatory AUM
- $2.24B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Twelve Points Wealth Management 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.
David Clayman owns 25% to 50% of Twelve Points Wealth Management. The leadership team of Twelve Points Wealth Management includes President Francesca Federico, Chief Investment Officer Stephen Bruno and Chief Compliance Officer David Clayman. It has 25 employees, 13 of them in advisory roles.
Leadership
- Francesca FedericoPresident and Wealth Advisor
- David ClaymanCEO, Wealth Advisor, Chief Compliance Officer
- Stephen BrunoChief Investment Officer
- Emanuel FrangiadakisOwner
Investment adviser representatives
20 representatives listed in the SEC register as of 9 October 2026.
- Joseph Michael Belsanti
- Stephen John Bruno
- Christopher Alan Cahill
- Deborah North Cartisser
- David Matthew Clayman
- Joel Douglas Fearon
- Francesca Eileen Federico
- Emanuel NMN Frangiadakis
- Tracey Beauregard Hartford
- Jeffrey Stuart King
- Vikram Konanki
- William George Koshivas
- Barbara Becker Maietta
- Andrew McGill
- Joseph Paul Montana
- Carolyn Brenda Mullins
- Robert Philip Natale
- Gregory Alan Phillips
- Igor Tiguy
- Neil Joseph Tremblay
Staff
- 25 employees
- 13 in advisory functions
- 19 state-registered reps
- 5 insurance agents
- 3 soliciting firms
- Owns 25% to 50% of Twelve Points Wealth Management LLC
David Clayman
Control person · since January 2015
- Owns 25% to 50% of Twelve Points Wealth Management LLC
Francesca Federico
Control person · since January 2020
- Owns 10% to 25% of Twelve Points Wealth Management LLC
Emanuel Frangiadakis
since March 2014
Twelve Points Wealth Management’s regulatory assets grew 3.6× from $630M (April 2021) to $2.24B (August 2026); clients rose from 341 to 821 and employees from 13 to 25.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $2.24B | 821 | 25 | 2 |
| June 2025 | $1.7B | 561 | 24 | 2 |
| July 2024 | $1.21B | 638 | 18 | 2 |
| July 2023 | $834M | 539 | 20 | 2 |
| April 2022 | $785M | 435 | 17 | 1 |
| April 2021 | $630M | 341 | 13 | 1 |
Besides its headquarters, Twelve Points Wealth Management has 1 office, with 2 listed addresses in Alabama and Massachusetts.
Alabama · 1 listed address
- 11468 US Highway 431 South, Guntersville
Massachusetts · 1 listed address
- 9 Pond Lane, Suite 3a, ConcordHQ
Other business names
Twelve Points Wealth Management has reported 1 other business name to the SEC.
- Twelve Points Retirement Advisors
Contact and registration details
- Legal name
- Twelve Points Wealth Management LLC
- Headquarters
- 9 Pond Lane, Suite 3a, Concord, MA 01742
- Website
- Not reported
- Phone
- 978-318-9500
- @twelve-points-wealth-management
- SEC file
- 801-108967
- Structure
- Massachusetts LLC
- Fiscal year end
- December
Twelve Points Wealth Management uses Charles Schwab ($440M, 70%) and Fidelity ($185M, 30%) as custodians for its separately managed accounts. Twelve Points Wealth Management has custody of $266M in client assets for 471 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $185M30%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $440M70%
At year end, Twelve Points Wealth Management’s separately managed accounts were largely in funds (49%) and stocks (41%). Its reported 13F holdings for the quarter ended 30 June 2026 total $499M across 213 positions; the largest are SPDR Series Trust (7.0%), iShares TR (6.5%) and Vaneck ETF Trust (5.7%).
What the accounts hold
- Stocks41%
- Exchange-traded equities38%
- Non-exchange-traded equities3%
- Funds49%
- Registered funds46%
- Pooled vehicles3%
- Bonds3%
- Cash5%
- Other1%
- Derivatives1%
Filed values cover 99%. The neutral 1% gap has no reported category.
Reported 13F holdings
- $499M
- Reported 13F value
- 213
- Positions
- 42.1%
- In the 10 largest
- +9.8%
- Value vs. prior quarter
- SPDR Series Trust · ST Str Blo 1 ETF7.0%
- iShares TR · Global 100 ETF6.5%
- Vaneck ETF Trust · IG Floa Rate ETF5.7%
- iShares TR · 0-3 Mth Treasury3.8%
- Ssga Active ETF TR · ST Str BL LN ETF3.7%
- Asa Gold And Precious Mtls L3.4%
- iShares TR · Core Div Grwth3.1%
- Vanguard Malvern Fds · Strm Infproidx3.1%
- Vanguard Intl Equity Index F · Allwrld EX US3.0%
- First TR Exch Traded FD Iii · Pfd Secs Inc. ETF2.8%
Together, the ten largest are 42.1% of reported value.
How many clients does Twelve Points Wealth Management have?
Twelve Points Wealth Management has 821 clients and manages $2.24 billion for them, as of August 2026. They include 511 individual clients, 202 pension and profit-sharing plans, and 83 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 August 2026
What services does Twelve Points Wealth Management offer?
Twelve Points Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Twelve Points Wealth Management use?
Twelve Points Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $440M and Fidelity Brokerage Services LLC (Smithfield, RI), with $185M. 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 August 2026
How many financial advisors does Twelve Points Wealth Management have?
Twelve Points Wealth Management has 19 investment adviser representatives registered with state securities authorities, out of 25 employees, and 13 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 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 Twelve Points Wealth Management invest in?
At the end of its last fiscal year, Twelve Points Wealth Management’s separately managed accounts held 46% registered funds (mutual funds, ETFs, BDCs), 38% exchange-traded equities, 5% cash and equivalents, 3% non-exchange-traded equities, 3% investment grade corporate bonds, 3% pooled vehicles (private funds and similar) and 1% derivatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Twelve Points Wealth Management?
Twelve Points Wealth Management’s direct owners are Emanuel Frangiadakis, David Clayman and Francesca Federico, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 26 August 2026
How does Twelve Points Wealth Management get paid?
Twelve Points Wealth Management 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 Twelve Points Wealth Management?
Twelve Points Wealth Management’s main office is at 9 Pond Lane, Suite 3a, Concord, MA 01742. Its phone number is 978-318-9500.