Wellesley Asset Management, Inc.

Wellesley Investment Advisors, a division of Wellesley Asset Management, Inc., was founded in 1991 by Greg Miller, CPA, specializing in investing in convertible bonds. As of December 31, 2024, the firm managed approximately $2.06 billion in regulatory assets on a discretionary basis and $3.71 million on a non-discretionary basis. They offer discretionary investment management services to various clients, including high net worth individuals and institutions, using convertible securities and other investment products. Fees for separately managed accounts range from 0.99% to 1.24% based on account size, with negotiable fees for accounts over $10 million. WAM acts as a fiduciary under ERISA and the IRC, ensuring client interests are prioritized. The firm may recommend rolling over retirement plan assets, disclosing any conflicts of interest that may arise. WAM faced disciplinary action in 2023 for inadequate disclosures in advertisements. The firm has a Code of Ethics ensuring client interests are paramount. WAM participates in referral programs, such as Fidelity Wealth Advisor Solutions, and pays referral fees. They do not maintain physical custody of client assets and accept discretionary authority for managing client accounts. Overall, WAM's investment strategies focus on convertible securities, with a risk of loss associated with various factors like interest rates, credit/default, and liquidity risks. Clients receive quarterly reports and monthly custodian statements. WAM does not vote proxies on behalf of clients, except for certain cases. The firm has no financial commitments impairing client obligations and has not undergone bankruptcy in the past decade.