A. Minot DeBlois Advisors (MDA) became a registered investment adviser with the SEC
in March 2009. MDA is a wholly owned subsidiary of Rice, Heard & Bigelow, Inc., a
firm of private trustees and executors which can trace its history to 1782. Rice, Heard
& Bigelow offers fiduciary and tax services to trusts, estates, foundations and
individuals, and maintains its offices at 50 Congress Street, Suite 900, Boston, MA.
Robert G. Bannish, Zachary Bourque, Kevin T. McQuaid, Gregory Gullickson, Sarah
M. Allen and Adam C. Rutledge are the managers of Minot DeBlois Advisors LLC.
The six individuals above are also the only shareholders, and comprise a majority of
the directors of Rice, Heard & Bigelow. The majority of MDA’s clients are trustees
who are also shareholders of Rice, Heard & Bigelow.
B. MDA provides general investment management and advice under either discretionary
or non-discretionary contracts to the trustees of trusts, and to endowments, charities,
individuals and other entities.
Under non-discretionary agreements, MDA provides advice and makes
recommendations to the client with respect to the investment of an account's assets.
The client makes the final decision to approve such recommendations.
Under discretionary
agreements, MDA is granted full power by the client to supervise
and direct the investment of assets in the client's account. In these relationships, MDA
has authority to execute trades without prior consultation with the client.
Please see Item 8 below for a full description of MDA’s investment philosophy and
practice.
C. MDA individually advises each account, whether under a discretionary or non-
discretionary contract. Within the context of its investment philosophy (described in
detail in Item 8), MDA attempts to tailor the management of each account to an
individual client’s circumstances. Factors which MDA considers in developing
individual investment strategies include a client’s risk tolerance, cash needs, tax status,
investment time horizon and other characteristics. As discussed more fully in Item 16,
below, clients may, with MDA’s agreement, impose specific criteria on an advised
account.
D. MDA does not participate in wrap fee programs.
E. As of December 31, 2023, MDA had a total of approximately $1,706,000,000 in assets
under management, of which approximately $146,000,000 was managed on a
discretionary basis and approximately $1,560,000,000 was on a non-discretionary
basis.
Page 4 March 27, 2024