AdvisorCensus / Financial advisors / Massachusetts / Boston / The Watermill Group
The Watermill Group
Filed as THE WATERMILL GROUP · Legal name Watermill Management Company, LLC
The Watermill Group is an SEC-registered investment advisory firm in Boston, MA, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.
Quick answers
From the filingHow is The Watermill Group compensated?
On its Form ADV (Item 5.E, October 2026), The Watermill Group reports these compensation arrangements: fixed fees (other than subscription fees); performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.
Where is The Watermill Group located?
The Watermill Group's principal office is in Boston, MA, according to its Form ADV.
Is The Watermill Group registered with the SEC or a state?
The Watermill Group is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 163370.
How much does The Watermill Group manage?
The Watermill Group reports $178,078,003 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).
How have The Watermill Group's assets and staff changed since 2021?
In the Form ADV data for The Watermill Group: Regulatory assets under management: $239,100,546 in the October 2022 data and $178,078,003 in the October 2026 data, down 26%. Total employees: 16 in October 2022 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does The Watermill Group serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (18).
Does The Watermill Group 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/163370
What changed in The Watermill Group's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 8 to 9.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- Fixed fees (other than subscription fees)
- Performance-based fees
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2ASee the firm's brochure (dated March 30, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$178,078,003 as of October 2026, filing dated March 30, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Legal name
- Watermill Management Company, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2022 (4 years)
- Employees
- Total: 13. Performing investment advisory functions: 9.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $178,078,003 | 13 | March 30, 2026 |
| October 2025 | $145,088,497 | 14 | March 26, 2025 |
| October 2024 | $212,874,753 | 16 | May 28, 2024 |
| October 2023 | $245,885,830 | 15 | September 20, 2023 |
| October 2022 | $239,100,546 | 16 | July 27, 2022 |
| October 2021 | Not reported | Not reported | March 29, 2021 |
Regulatory assets under management: $239,100,546 in the October 2022 data and $178,078,003 in the October 2026 data, down 26%.
Total employees: 16 in October 2022 and 13 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 8 to 9.
- December 2025
- Employees performing advisory functions went from 9 to 8.
- Regulatory assets under management went from $145,088,497 to $162,912,234 (+12%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. The Watermill Group (CRD 163370): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/the-watermill-group-boston-ma-163370