Windrose Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, and selecting other managers. Financial planning was provided to 51–100 clients last fiscal year. The firm advises 66 private funds.
Windrose Advisors reports 153 clients. They include 71 pooled investment vehicles, 70 high-net-worth individuals and 12 charitable organizations. Of its assets, 36.8% ($983M across 22 accounts) are managed with discretion; $1.69B across 578 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 46% | 55% |
| Pooled investment vehicles | 46% | 37% |
| Charitable organizations | 8% | 9% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 70 | $1.46B | 54.6% | $20.8M |
| Pooled investment vehicles | 71 | $983M | 36.8% | $13.8M |
| Charitable organizations | 12 | $229M | 8.6% | $19.1M |
| Total | 153 | $2.67B | 100% | $17.4M |
- Clients
- 70
- Regulatory AUM
- $1.46B
- AUM share
- 54.6%
- Avg. per client
- $20.8M
- Clients
- 71
- Regulatory AUM
- $983M
- AUM share
- 36.8%
- Avg. per client
- $13.8M
- Clients
- 12
- Regulatory AUM
- $229M
- AUM share
- 8.6%
- Avg. per client
- $19.1M
Total
- Clients
- 153
- Regulatory AUM
- $2.67B
- AUM share
- 100%
- Avg. per client
- $17.4M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 66
- Financial planning clients last fiscal year
- 51–100
Windrose Advisors charges up to 1.00% a year for its Advisory Fee. 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
- Reporting and Data Aggregation
- Clients pay a 0.02% fee for reporting and data aggregation in addition to the advisory fee.
Phyllis Fireman Reebok Grat Fbo Daniel Fireman owns 25% to 50% of Windrose Advisors. William Heitin is CEO; the leadership team includes Chief Investment Officer Gildas Quinquis and Chief Compliance Officer Paul Pomerantz. It has 23 employees, 8 of them in advisory roles.
Leadership
- William HeitinChief Executive Officer and President
- Paul PomerantzController and Chief Compliance Officer
- Paul MutchManaging Director
- Kenneth PolayPartner
- Gildas QuinquisPartner and Chief Investment Officer
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Josette Beatrice
- Reilly Thomas Dahlquist
- William A Heitin
- Adam Robert Ladd
- Paul Kenneth Mutch
- Kenneth Robert Polay
- Paul Scott Pomerantz
- Gildas Quinquis
Staff
- 23 employees
- 8 in advisory functions
- 7 state-registered reps
- 1 soliciting firm
- Owns 25% to 50% of Windrose Advisors LLC
Phyllis Fireman Reebok Grat Fbo Daniel Fireman
Control person · since September 2022
- Owns 25% to 50% of Windrose Advisors LLC
Phyllis Fireman Reebok Grat Fbo
Control person · since September 2022
- Owns 25% to 50% of Windrose Advisors LLC
DF Capital II LLC
Control person · since January 2023
- Owns 10% to 25% of Windrose Advisors LLC
DF Capital LLC
Control person · since December 2019
- Owns 75% or more of DF Capital LLC
Daniel Fireman
Control person · since December 2019
- Owns 5% to 10% of Windrose Advisors LLC
William Heitin
Control person · since August 2009
Windrose Advisors’ regulatory assets grew from $2.19B (May 2021) to $2.67B (March 2026); clients rose from 92 to 153 and employees from 18 to 23.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $2.67B | 153 | 23 | 1 |
| July 2025 | $2.49B | 149 | 24 | 1 |
| March 2024 | $2.5B | 132 | 23 | 1 |
| March 2023 | $2.37B | 123 | 20 | 1 |
| March 2022 | $2.48B | 101 | 18 | 1 |
| May 2021 | $2.19B | 92 | 18 | 1 |
Besides its headquarters, Windrose Advisors has 0 offices, with 1 listed address in Massachusetts.
Massachusetts · 1 listed address
- Watermill Center, 800 South Street, Suite 600, WalthamHQ
Contact and registration details
- Legal name
- Windrose Advisors LLC
- Headquarters
- Watermill Center, 800 South Street, Suite 600, Waltham, MA 02453
- Website
- windroseadvisor.com
- Phone
- 617-421-1750
- @windrose-advisors
- SEC file
- 801-70859
- Structure
- Delaware LLC
- Fiscal year end
- December
Windrose Advisors uses BNY Mellon Capital Markets ($398M) as custodian for its separately managed accounts. Windrose Advisors has custody of $2.67B in client assets for 153 clients.
- BNY Mellon Capital MarketsBNY Mellon Capital Markets, LLC · Boston, MA · $398M100%
At year end, Windrose Advisors’ separately managed accounts were mostly in stocks (57%) and funds (32%).
What the accounts hold
- Stocks57%
- Non-exchange-traded equities41%
- Exchange-traded equities16%
- Funds32%
- Pooled vehicles22%
- Registered funds10%
- Bonds10%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does Windrose Advisors have?
Windrose Advisors has 153 clients and manages $2.67 billion for them, as of March 2026. They include 71 pooled investment vehicles, 70 high-net-worth individuals and 12 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Windrose Advisors offer?
Windrose Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Windrose Advisors charge?
Windrose Advisors charges up to 1.00% a year for its Advisory Fee. The fee is billed in advance and is negotiable.
Source: WINDROSE FORM ADV 2A 2026 AA FINAL, filed 31 March 2026
Which custodians does Windrose Advisors use?
Windrose Advisors’ separately managed account assets are held at BNY Mellon Capital Markets, LLC (Boston, MA), with $398M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Windrose Advisors have?
Windrose Advisors has 7 investment adviser representatives registered with state securities authorities, out of 23 employees, and 8 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 Windrose Advisors invest in?
At the end of its last fiscal year, Windrose Advisors’ separately managed accounts held 41% non-exchange-traded equities, 22% pooled vehicles (private funds and similar), 16% exchange-traded equities, 10% state and local bonds and 10% registered funds (mutual funds, ETFs, BDCs). It advises 66 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Windrose Advisors?
Windrose Advisors is owned through a holding company by Daniel Fireman. Its direct owners are William Heitin, DF Capital LLC, Phyllis Fireman Reebok Grat Fbo Daniel Fireman, Phyllis Fireman Reebok Grat Fbo and DF Capital II LLC, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Windrose Advisors get paid?
Windrose Advisors is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Windrose Advisors registered with the SEC?
Yes, Windrose Advisors has been registered with the SEC as an investment adviser since 18 December 2009. Its CRD number is 152145 and its SEC file number is 801-70859.
Source: Form ADV Part 1A, Item 1, filed 31 March 2026; IAPD firm record
How do I contact Windrose Advisors?
Windrose Advisors’ main office is at Watermill Center, 800 South Street, Suite 600, Waltham, MA 02453. Its phone number is 617-421-1750. Its website is windroseadvisor.com.