Firm Overview
New England Private Wealth Advisors, LLC (“NEPWA” or “We”) is an independent investment advisory firm
located in Wellesley, MA and registered with the U.S. Securities and Exchange Commission (the “SEC”).
NEPWA was founded in 2005 and is owned by Ira Rapaport, CEO and Managing Member.
NEPWA offers continuous investment advisory and wealth management services on a fee-only basis for
individuals, high-net worth individuals, trusts, estates, charitable/non-profit organizations and endowments,
corporations and/or business entities, corporate pension, and profit-sharing plans, etc. Services involve asset
allocation planning and suggesting and/or implementing investments in cash products, government bonds,
mutual funds, exchange traded funds (ETFs), separately managed accounts, and on a limited basis and for
certain clients, private real estate and other alternative investments. In addition to managing the client’s
investment portfolio, NEPWA will consult with clients on various financial planning topics (as discussed below
in more detail).
NEPWA provides objective investment advice and always prioritizes the client’s interest. NEPWA is a fee-only,
investment advisory and wealth planning firm. The firm does not sell annuities, insurance products, mutual
funds, or any other commissioned product and we are not affiliated with any entities that sell financial products
or securities. No commissions are accepted in any form and no finder fees are paid.
Types of Advisory Services
Initially and on a continuous basis, we consult with clients through meetings, phone calls and emails to
determine the client’s investment objectives, risk tolerances, asset-class preferences, time horizons, tax
situation and liquidity needs, among other things. Based on discussions with clients regarding these factors,
NEPWA develops a client's asset allocation and constructs and manages a broadly diversified portfolio across
global asset classes. Clients are advised that it remains their responsibility to promptly notify the firm of any
change in their personal or financial situation or investment objectives, for the purposes of reviewing,
evaluating, or revising NEPWA’s recommendations and services.
In addition to managing the client’s investment portfolio, NEPWA may consult with clients (and/or their current
advisors such as their attorney, CPA, insurance agent) on various financial areas including tax planning,
education planning, retirement planning, estate planning, insurance needs, personal cash flow, net worth
statements, charitable giving, mortgage refinancing, establishment of retirement plans, general business
issues, among other things. NEPWA does not charge a separate fee for these services.
In performing our services, NEPWA shall not be required to verify any information received from the client or
from the client’s other professional advisors and is expressly authorized to rely thereon. If requested by the
client, NEPWA may recommend the services of other professionals for implementation purposes. The client is
under no obligation to engage the services of any such recommended professional. The client retains absolute
discretion over all such implementation decisions and is free to accept or reject any recommendation from
NEPWA. Moreover, each client is advised that it remains the client’s responsibility to promptly notify NEPWA if
there is ever any change in his/her/their financial situation or investment objectives for the purpose of
reviewing/evaluating/revising NEPWA’s previous recommendations and/or services.
NEPWA also provides certain legacy clients income tax services which include preparing annual returns and
quarterly estimates. NEPWA may charge a separate fee for services related to income tax preparation
services.
NEPWA also provides advisory services on a retirement plan level, working directly with Plan Trustees/Senior
Management/Committee Members. We do not communicate directly with plan participants, nor do we provide
employee education. NEPWA will analyze the plan's current investment platform and monitor and recommend
changes in the plan's investment options as may be appropriate from time to time.
As of December 31, 2023, NEPWA managed a total of $2,678,964,904- consisting of $2,325,511,980 on a
discretionary basis and $353,452,924 on a non-discretionary basis.
Asset Management
NEPWA typically suggests clients consider investing in Exchange Traded Funds (ETFs) and/or mutual funds
within their investment portfolio. When selecting mutual funds, NEPWA attempts to utilize the lowest cost share
class available. This is determined on an account-by-account basis depending on what share class is available
at that time and other fees that may be assessed. NEPWA will monitor the performance of the selected ETFs
and mutual funds. If NEPWA determines the investment is no longer consistent with the client's personal
investment objectives or asset allocation and/or identifies another potential reason to sell the investment (for
example: a manager change, underperformance) NEPWA will suggest removing the client's assets from that
selected
investment. Similarly, NEPWA will provide the client with suggestions for purchasing ETFs and/or
mutual funds based on NEPWA’s investment analysis. NEPWA has the discretionary authority to implement
changes in the client’s portfolio. However, as a matter of practice, NEPWA, when possible, will first consult with
the client prior to implementing the purchase or sale of ETFs and/or mutual funds.
Under certain limited circumstances, NEPWA may also advise on individual securities including corporate debt
securities, municipal and government securities, certificates of deposit, bank and FDIC insured products and
other investment solutions. In certain situations, NEPWA may suggest a client consider an annuity product.
Additionally, clients may maintain legacy positions within their accounts, when it is believed to be in the best
interest of the client and/or at the request of the client.
NEPWA can suggest allocating a portion of a client’s portfolio to be managed by an independent third-party
manager, such as a separate account manager. Our firm will consider several factors in evaluating and/or
recommending third party managers including, but not limited to: investment strategy, management style, past
performance, reputation, reporting, research capabilities and financial strength. As part of our due diligence,
we will make reasonable inquiries into their policies and procedures, code of ethics and other operational
matters. Separate account money managers provide investment opportunities among various assets including
stocks, bonds, derivatives, mutual funds, ETFs and other types of publicly traded securities. Generally, the
terms and conditions under which the client shall engage a third-party manager are outlined in a separate
agreement between the client and the selected manager. In certain situations, clients are not required to sign a
separate agreement with the third-party manager, and NEWPA retains the authority to hire and terminate third-
party managers. Clients are highly encouraged to carefully review the separate account manager’s Form ADV
disclosure brochure for important information on the firm, fees, and investment strategy. NEPWA will monitor
the performance of the selected investment manager(s). If NEPWA determines that a particular investment
manager(s) is not managing the client's portfolio in a manner consistent with the client's personal investment
objectives or asset allocation, and/or for another reason (for example: a manager change, underperformance),
NEPWA will suggest removing the client's assets from that investment manager(s). In most cases, NEPWA
has the discretionary authority to terminate separate account investment managers on the client’s behalf.
However, as a matter of practice, NEPWA, when possible, will first consult with the client prior to terminating
the selected investment manager(s). The client may be required to complete the necessary paperwork to
facilitate a change in investment manager(s). NEPWA will not trade securities managed by such selected
investment manager(s) unless otherwise directed by the client.
In certain situations, NEPWA may suggest to qualified clients allocating a portion of a portfolio to be invested in
private real estate and alternative investment strategies. Because these types of investments involve certain
additional degrees of risk, less liquidity, and higher fees, they will only be recommended when consistent with
the client's investment objectives, risk tolerances, time horizons, liquidity needs, investor eligibility, as well as
other factors. Additional information about the fees related to alternative investments is included in the offering
documents provided to prospective investors. Clients need to be aware that these types of investments do not
provide the same level of liquidity as traditional investments and may be subject to lock-ups and other liquidity
restrictions. Managers of alternative investments may not disclose details related to their trading and
investment methodologies as it may be considered proprietary. This can lead to a lack of transparency for
investors. NEPWA may also recommend investments in private companies in which a client of NEPWA has a
vested interest. This presents a conflict of interest which will be disclosed to the client. The client must approve
in advance and consent to the purchase and sale of these investments and will be required to complete the
necessary paperwork to facilitate the purchase and/or sale of these alternative investments.
NEPWA will monitor the performance of the selected alternative investment(s). If NEPWA determines that a
particular selected alternative investment(s) is no longer consistent with the client's personal investment
objectives or asset allocation, and/or for another reason (for example: a manager change, underperformance),
NEPWA will suggest removing the client's assets from that selected investment(s). In these cases, the client
will be subject to the liquidity provisions associated with that selected investment(s) and must complete
paperwork to directly terminate the manager.
NEPWA does not participate in any wrap fee programs.