# Bay Colony Advisors

> Bay Colony Advisors is an SEC-registered investment advisory firm in Concord, MA, registered since 2016, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 23, 2026.

- CRD: 152583
- Filed as: BAY COLONY ADVISORS
- Legal name: Bay Colony Advisory Group, Inc.
- Also doing business as: ALLEGIANCE FINANCIAL SERVICES INC., ASYMMETRIC CAPITAL ADVISORY, CHRISTOPHER LEE FINANCIAL, EMERALD WEALTH ADVISORS, ESSENTIAL ASSET MANAGEMENT, LLC, GLAZIER FINANCIAL ADVISORS, GREENHAVEN FINANCIAL MANAGEMENT, LEGACY FINANCIAL, LEONARD FINANCIAL GROUP, SENTINEL ADVISORY SERVICES, TEWKS WEALTH MANAGEMENT, LLC, WINDSOR WEALTH MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Concord, MA
- Filing period: October 2026
- Form ADV filing dated: March 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/152583
- AdvisorCensus page: https://advisorcensus.com/firm/bay-colony-advisors-concord-ma-152583

## Quick answers

**How is Bay Colony Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Bay Colony Advisors reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.

**Where is Bay Colony Advisors located?**
Bay Colony Advisors' principal office is in Concord, MA, according to its Form ADV; the April 2026 filing also lists 7 other offices (Schedule D, Section 1.F).

**Is Bay Colony Advisors registered with the SEC or a state?**
Bay Colony Advisors is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 152583.

**How much does Bay Colony Advisors manage?**
Bay Colony Advisors reports $1,434,891,449 in regulatory assets under management in its Form ADV filing dated March 23, 2026 (96% discretionary).

**How have Bay Colony Advisors' assets and staff changed since 2021?**
In the Form ADV data for Bay Colony Advisors: Regulatory assets under management: $535,815,439 in the October 2021 data and $1,434,891,449 in the October 2026 data, up 168%. Total employees: 23 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Bay Colony Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,786); high net worth individuals (864); corporations or other businesses not listed above (10).

**Which custodians does Bay Colony Advisors use?**
Bay Colony Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Bay Colony Advisors 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/152583

**Does Bay Colony Advisors state an account minimum?**
Its Form ADV Part 2A brochure dated March 23, 2026 says: "BCA generally requires a relationship size of $250,000, however, the minimum relationship size may be reduced at the discretion of BCA, expecially for legacy assets or accounts ."

**What changed in Bay Colony Advisors' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,263,305,046 to $1,434,891,449 (+14%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 23, 2026)

- Account minimum: $250,000 (the brochure says it may be waived or negotiated)

> BCA generally requires a relationship size of $250,000, however, the minimum relationship size may be reduced at the discretion of BCA, expecially for legacy assets or accounts .

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services LLC

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: $1,434,891,449
- Discretionary: $1,380,365,573
- Non-discretionary: $54,525,876

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,786 | $541,997,068 |
| High net worth individuals | 864 | $849,519,021 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $41,689,562 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 10 | $1,685,798 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2016 (10 years)
- Employees: 36 total, 30 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, CT, FL, GA, IA, KS, LA, MA, MD, ME, MI, NC, NH, NJ, NV, NY, PA, RI, SC, TX, UT, VA, VT, WA
- 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
- Dorset, VT
- Melbourne, FL
- Nashua, NH
- Norwell, MA
- Topsfield, MA
- Westport, CT
- Wrentham, MA

### Websites listed on Form ADV (Item 1.I)
- asymmetriccapitaladvisory.com
- baycolonyadvisors.com
- castlehillfinancial.com
- christopherleefinancial.com
- daveboczar.com
- davidboczar.com
- davidjboczar.com
- emeraldwealthadvisors.com
- essentialassetmanagement.net
- glazierfinancialadvisors.com
- hiasllc.com
- pjbfin.com
- sentineladvisoryservices.com
- tewkswm.com
- thelegacyfinancial.com
- windsorwm.com
- Facebook @harrington.shawn
- Instagram @spharrington071
- LinkedIn @alexandergrose
- LinkedIn @christopher-kolker-7a07214
- LinkedIn @david-bunker-66413a6
- LinkedIn @david-j-boczar-cfp-r-cfa-aa0a1a43
- LinkedIn @ducroux
- LinkedIn @ethanfreishtat
- LinkedIn @jacob-murray-cfp
- LinkedIn @james-catacchio-79438225
- LinkedIn @john-ohl-83050026
- LinkedIn @johnbro3
- LinkedIn @matthew-graham-24a979196
- LinkedIn @nickgrose
- LinkedIn @pamela-j-bakos-1b2314112
- LinkedIn @peter-grose-40407229
- LinkedIn @richard-mollin-283599
- LinkedIn @shawn-harrington-b0b9224
- LinkedIn @stevedaglio
- LinkedIn @stilson-tomita-66b765231
- LinkedIn @thomas-sliney-2b650137
- LinkedIn @timothy-dougherty-acap

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $535,815,439 | 23 | July 9, 2021 |
| October 2022 | $805,541,025 | 23 | August 19, 2022 |
| October 2023 | $893,291,993 | 23 | May 11, 2023 |
| October 2024 | $1,073,790,099 | 27 | June 26, 2024 |
| October 2025 | $1,263,305,046 | 36 | May 30, 2025 |
| October 2026 | $1,434,891,449 | 36 | March 23, 2026 |

Regulatory assets under management: $535,815,439 in the October 2021 data and $1,434,891,449 in the October 2026 data, up 168%.
Total employees: 23 in October 2021 and 36 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,263,305,046 to $1,434,891,449 (+14%).
- Updated its list of owners and control persons (Schedule A).

### November 2025
- Added the business name Allegiance Financial Services Inc..

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Bay Colony Advisors (CRD 152583): Form ADV filing data as of October 2026.