Wendell David Associates provides portfolio management for individuals and small businesses, portfolio management for institutions, and insurance.
Wendell David Associates reports 459 clients. They include 234 individual clients, 208 high-net-worth individuals and 17 charitable organizations. Of its assets, 85.9% ($1.14B across 422 accounts) are managed with discretion; $188M across 43 accounts are not. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 51% | 7% |
| High-net-worth individuals | 45% | 74% |
| Banking or thrift institutions | Fewer than 5 | 3% |
| Pension and profit-sharing plans | Fewer than 5 | 7% |
| Charitable organizations | 4% | 9% |
| Other client typesCorporations and other businesses; Other | Not reported | <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) | 234 | $89.5M | 6.7% | $383K |
| High-net-worth individuals | 208 | $988M | 74.3% | $4.75M |
| Banking or thrift institutions | Fewer than 5 | $41.6M | 3.1% | — |
| Pension and profit-sharing plans | Fewer than 5 | $88.2M | 6.6% | — |
| Charitable organizations | 17 | $122M | 9.2% | $7.17M |
| Corporations and other businesses | Fewer than 5 | $780K | 0.1% | — |
| Other | Fewer than 5 | $0 | 0.0% | — |
| Total | 459 | $1.33B | 100% | — |
- Clients
- 234
- Regulatory AUM
- $89.5M
- AUM share
- 6.7%
- Avg. per client
- $383K
- Clients
- 208
- Regulatory AUM
- $988M
- AUM share
- 74.3%
- Avg. per client
- $4.75M
- Clients
- Fewer than 5
- Regulatory AUM
- $41.6M
- AUM share
- 3.1%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $88.2M
- AUM share
- 6.6%
- Avg. per client
- —
- Clients
- 17
- Regulatory AUM
- $122M
- AUM share
- 9.2%
- Avg. per client
- $7.17M
- Clients
- Fewer than 5
- Regulatory AUM
- $780K
- AUM share
- 0.1%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
Total
- Clients
- 459
- Regulatory AUM
- $1.33B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Wendell David Associates is paid through a percentage of assets under management and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
Karen Wendell owns 75% or more of Wendell David Associates. The leadership team of Wendell David Associates includes President Neil Bleicken. It has 5 employees.
Leadership
- Neil BleickenSenior Vice President
- Timothy ReardonVice President
- Reid SmithSenior Vice President
- Karen WendellCEO, President, Treasurer
- William MitchellChairman
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
- Neil Gerhard Bleicken
- William Henry Ledger Mitchell III
- Timothy Patrick Reardon
- Reid Vaile Smith
- Karen "NMN" Wendell
Staff
- 5 employees
- 5 in advisory functions
- 5 state-registered reps
- Owns 75% or more of Wendell David Associates Inc
Karen Wendell
Control person · since July 2017
Wendell David Associates’ regulatory assets grew from $1.08B (March 2021) to $1.33B (March 2026); clients were 459 in both filings and employees fell from 6 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.33B | 459 | 5 | 1 |
| March 2025 | $1.34B | 476 | 6 | 1 |
| March 2024 | $1.27B | 481 | 5 | 1 |
| July 2023 | $1.1B | 464 | 5 | 1 |
| July 2022 | $1.28B | 470 | 6 | 1 |
| March 2021 | $1.08B | 456 | 6 | 1 |
Besides its headquarters, Wendell David Associates has 0 offices, with 1 listed address in New Hampshire.
New Hampshire · 1 listed address
- 1 New Hampshire Avenue, Suite 300, PortsmouthHQ
Contact and registration details
- Legal name
- Wendell David Associates Inc
- Headquarters
- 1 New Hampshire Avenue, Suite 300, Portsmouth, NH 03801-2904
- Website
- davidwendell.com
- Phone
- 603-427-0200
- SEC file
- 801-47437
- Founded
- 1979
- Structure
- New Hampshire corporation
- Fiscal year end
- December
Wendell David Associates uses Charles Schwab ($685M) as custodian for its separately managed accounts. Wendell David Associates does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Boston, MA · $685M100%
At year end, Wendell David Associates’ separately managed accounts were mostly in stocks (87%). Its reported 13F holdings for the quarter ended 30 June 2026 total $947K across 155 positions; the largest are Apple (7.8%), Mastercard (5.9%) and TJX Companies (5.8%).
What the accounts hold
- Stocks87%
- Funds2%
- Bonds5%
- Cash6%
Reported 13F holdings
- $947K
- Reported 13F value
- 155
- Positions
- 47.4%
- In the 10 largest
- +3.0%
- Value vs. prior quarter
- Apple · Comm7.8%
- Mastercard · Comm5.9%
- TJX Companies · Comm5.8%
- Eli Lilly · Comm5.6%
- Microsoft · Comm5.2%
- Alphabet Class A · Comm4.2%
- Automatic Data Processing · Comm4.1%
- Stryker · Comm3.7%
- Johnson & Johnson · Comm2.7%
- Abbvie · Comm2.6%
Together, the ten largest are 47.4% of reported value.
How many clients does Wendell David Associates have?
Wendell David Associates has 459 clients and manages $1.33 billion for them, as of March 2026. They include 234 individual clients, 208 high-net-worth individuals and 17 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 March 2026
What services does Wendell David Associates offer?
Wendell David Associates provides portfolio management for individuals and small businesses, portfolio management for institutions, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does Wendell David Associates use?
Wendell David Associates’ separately managed account assets are held at Charles Schwab & Co., Inc. (Boston, MA), with $685M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 March 2026
How many financial advisors does Wendell David Associates have?
Wendell David Associates has 5 investment adviser representatives registered with state securities authorities, out of 5 employees, and 5 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 Wendell David Associates invest in?
At the end of its last fiscal year, Wendell David Associates’ separately managed accounts held 87% exchange-traded equities, 6% cash and equivalents, 5% U.S. government and agency bonds and 2% registered funds (mutual funds, ETFs, BDCs).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Wendell David Associates?
Wendell David Associates’ direct owner is Karen Wendell (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 19 March 2026
How does Wendell David Associates get paid?
Wendell David Associates 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 Wendell David Associates registered with the SEC?
Yes, Wendell David Associates has been registered with the SEC as an investment adviser since 10 August 1994. Its CRD number is 106664 and its SEC file number is 801-47437.
Source: Form ADV Part 1A, Item 1, filed 19 March 2026; IAPD firm record
How do I contact Wendell David Associates?
Wendell David Associates’ main office is at 1 New Hampshire Avenue, Suite 300, Portsmouth, NH 03801-2904. Its phone number is 603-427-0200. Its website is davidwendell.com.