{"url":"https://nivawealth.com/firms/windrose-advisors-152145","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/152145","regulatoryAum":2669012816,"crd":"152145","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"7632185","suffix":null,"lastName":"Beatrice","firstName":"Josette","middleName":null},{"crd":"8030104","suffix":null,"lastName":"Dahlquist","firstName":"Reilly","middleName":"Thomas"},{"crd":"5736775","suffix":null,"lastName":"HEITIN","firstName":"WILLIAM","middleName":"A"},{"crd":"8187380","suffix":null,"lastName":"Ladd","firstName":"Adam","middleName":"Robert"},{"crd":"2822345","suffix":null,"lastName":"MUTCH","firstName":"PAUL","middleName":"KENNETH"},{"crd":"5059254","suffix":null,"lastName":"POLAY","firstName":"KENNETH","middleName":"ROBERT"},{"crd":"5751736","suffix":null,"lastName":"POMERANTZ","firstName":"PAUL","middleName":"SCOTT"},{"crd":"6468455","suffix":null,"lastName":"QUINQUIS","firstName":"GILDAS","middleName":null}],"total":8,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-05-27","regulatoryAum":2188754450,"clients":92,"employees":18,"offices":1},{"filedOn":"2022-03-29","regulatoryAum":2475166409,"clients":101,"employees":18,"offices":1},{"filedOn":"2023-03-29","regulatoryAum":2368437754,"clients":123,"employees":20,"offices":1},{"filedOn":"2024-03-27","regulatoryAum":2503397523,"clients":132,"employees":23,"offices":1},{"filedOn":"2025-07-03","regulatoryAum":2487640162,"clients":149,"employees":24,"offices":1},{"filedOn":"2026-03-31","regulatoryAum":2669012816,"clients":153,"employees":23,"offices":1}],"secFileNumber":"801-70859","legalName":"Windrose Advisors LLC","displayName":"Windrose Advisors","slug":"windrose-advisors-152145","website":"https://windroseadvisor.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/152145/d74026e803e74f85-r1.webp","tone":"light","width":523,"height":200,"sourceUrl":"https://www.windroseadvisor.com/","sourceLabel":"Windrose Advisors LLC, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/windrose-advisors","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"Watermill Center, 800 South Street, Suite 600","city":"Waltham","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02453"},"tradeNames":[],"registration":{"secApproved":"18 December 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MA","smaAssets":398483476}],"custodyNote":"Windrose Advisors has custody of $2.67B in client assets for 153 clients.","leadership":[{"name":"William Heitin","title":"Chief Executive Officer and President","crd":"5736775"},{"name":"Paul Pomerantz","title":"Controller and Chief Compliance Officer","crd":"5751736"},{"name":"Paul Mutch","title":"Managing Director","crd":"2822345"},{"name":"Kenneth Polay","title":"Partner","crd":"5059254"},{"name":"Gildas Quinquis","title":"Partner and Chief Investment Officer","crd":"6468455"}],"ownership":[{"label":"William Heitin","detail":"Chief executive officer and president in the 5% to 10% ownership band and a control person, since August 2009."},{"label":"DF Capital LLC","detail":"Shareholder in the 10% to 25% ownership band and a control person, since December 2019."},{"label":"Phyllis Fireman Reebok Grat Fbo Daniel Fireman","detail":"Shareholder in the 25% to 50% ownership band and a control person, since September 2022."},{"label":"Phyllis Fireman Reebok Grat Fbo","detail":"Shareholder in the 25% to 50% ownership band and a control person, since September 2022."},{"label":"DF Capital II LLC","detail":"Shareholder in the 25% to 50% ownership band and a control person, since January 2023."},{"label":"Daniel Fireman","detail":"Indirect owner: a owner of DF Capital LLC in the 75% or more band and a control person, since December 2019. Also a owner of Phyllis Fireman Reebok Grat Fbo Daniel Fireman in the 75% or more band and a control person, since January 2023. Also a owner of DF Capital II LLC in the 50% to 75% band and a control person, since January 2023.","parent":"DF Capital LLC"}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Massachusetts","offices":1,"addresses":[{"street":"Watermill Center, 800 South Street, Suite 600","city":"Waltham","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"617-421-1750","stateRegisteredReps":7,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"51-100","assetMix":[{"label":"Exchange-traded equity securities","percent":16},{"label":"Non-exchange-traded equity securities","percent":41},{"label":"U.S. state and local bonds","percent":10},{"label":"Securities issued by registered investment companies or business development companies","percent":10},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":22}],"privateFunds":66},"sources":{"adv1FilingDate":"31 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/152145/PDF/152145.pdf","brochureDate":"31 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1035319","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Windrose Advisors have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Windrose Advisors offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Windrose Advisors charge?","answer":"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","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Windrose Advisors use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Windrose Advisors have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Windrose Advisors invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Windrose Advisors?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Windrose Advisors get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Windrose Advisors registered with the SEC?","answer":"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","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Windrose Advisors?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 31 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva 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."}