# Baldwin Investment Management, LLC

> Baldwin Investment Management, LLC is an SEC-registered investment advisory firm in West Conshohocken, PA, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 16, 2026.

- CRD: 108922
- Filed as: BALDWIN INVESTMENT MANAGEMENT, LLC
- Also doing business as: CHESTER COUNTY ASSET MANAGEMENT, A BALDWIN COMPANY LLC, RKM A BALDWIN INVESTMENT MANAGEMENT COMPANY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: West Conshohocken, PA
- Filing period: October 2026
- Form ADV filing dated: March 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108922
- AdvisorCensus page: https://advisorcensus.com/firm/baldwin-investment-management-llc-west-conshohocken-pa-108922

## Quick answers

**How is Baldwin Investment Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Baldwin Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**How much does Baldwin Investment Management, LLC charge?**
Its Form ADV Part 2A brochure dated March 16, 2026 states: Hourly rate: $300 an hour (non-discretionary Advisory Investment Management services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Baldwin Investment Management, LLC located?**
Baldwin Investment Management, LLC's principal office is in West Conshohocken, PA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Baldwin Investment Management, LLC registered with the SEC or a state?**
Baldwin Investment Management, LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 108922.

**How much does Baldwin Investment Management, LLC manage?**
Baldwin Investment Management, LLC reports $1,295,038,694 in regulatory assets under management in its Form ADV filing dated March 16, 2026 (80% discretionary).

**How have Baldwin Investment Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Baldwin Investment Management, LLC: Regulatory assets under management: $1,005,794,805 in the October 2021 data and $1,295,038,694 in the October 2026 data, up 29%. Total employees: 11 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Baldwin Investment Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (157); individuals (other than high net worth individuals) (111); charitable organizations (10).

**Which custodians does Baldwin Investment Management, LLC use?**
Baldwin Investment Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Baldwin Investment Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/108922

**Does Baldwin Investment Management, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 16, 2026 says: "Generally, a minimum of $1,000,000 of assets under management is required for accounts, although there are exceptions from time to time , based upon negotiations with the client."

**What changed in Baldwin Investment Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 8 to 11.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 16, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> Generally, a minimum of $1,000,000 of assets under management is required for accounts, although there are exceptions from time to time , based upon negotiations with the client.

- Hourly rate: $300 an hour (non-discretionary Advisory Investment Management services)

> Baldwin offers non-discretionary Advisory Investment Management services for a fee of $300/hour or by a flat retainer fee which is determined during account negotiations.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,295,038,694
- Discretionary: $1,036,476,287
- Non-discretionary: $258,562,407

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 111 | $68,329,063 |
| High net worth individuals | 157 | $1,115,377,275 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $9,122,230 |
| Charitable organizations | 10 | $95,541,089 |
| Other | 6 | $6,669,037 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 1999 (27 years)
- Employees: 14 total, 11 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, DE, FL, MA, NH, NY, PA, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- West Chester, PA

### Websites listed on Form ADV (Item 1.I)
- [baldwinmgt.com](https://baldwinmgt.com)
- [baldwinmgt.com/baldwin-investment-management-commentary](https://baldwinmgt.com/baldwin-investment-management-commentary)
- LinkedIn @baldwin-investment-management
- YouTube @BaldwinManagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,005,794,805 | 11 | March 5, 2021 |
| October 2022 | $1,142,281,528 | 12 | March 2, 2022 |
| October 2023 | $1,028,818,592 | 12 | March 17, 2023 |
| October 2024 | $1,087,072,004 | 16 | March 14, 2024 |
| October 2025 | $1,234,272,924 | 12 | April 10, 2025 |
| October 2026 | $1,295,038,694 | 14 | March 16, 2026 |

Regulatory assets under management: $1,005,794,805 in the October 2021 data and $1,295,038,694 in the October 2026 data, up 29%.
Total employees: 11 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 8 to 11.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Baldwin Investment Management, LLC (CRD 108922): Form ADV filing data as of October 2026.