John Mannix, formerly CEO of $2.3 billion advisory Baldwin Brothers in Marion, Mass., has launched a new registered investment advisor, Harmony Wealth Partners, in Boston.
The firm is targeting clients with more than $25 million and will have additional offices in New York, Miami and possibly South America, according to sources familiar with Harmony,
Harmony Wealth received approval June 6 under an SEC rule that allows new RIAs to launch operations if they expect to meet the requirements for registration, including having $100 million in assets under management, within four months, according to the agency.
Mannix was listed on the firm’s initial Form ADV as CEO, chief compliance officer and managing partner with more than 75% ownership. He worked at Baldwin Brothers, an ESG-oriented firm, from 2015 to March 14 of this year and, according to that firm’s latest Form ADV filed June 4, he retains somewhere between 10% and 25% ownership of that firm.
Sources also said that Mannix had sold the majority of his interest in Baldwin Brothers to Merchant Investment Management and that Merchant was a likely investor in Harmony.
Harmony Wealth stated in SEC filings that it will offer customized investment advisory solutions to its clients, which will include individuals, high-net-worth individuals, families, trusts, estates, businesses, family offices and other institutional clients. Investments will be made in low-cost mutual funds or ETFs, and will include stocks, bonds, or options contracts, the filings said.
Although the firm stated in SEC filings that there is no minimum to become a client, the firm’s landing-page website says otherwise. The Harmony Wealth website’s tagline is “sophisticated wealth stewardship for modern families.” The site goes on to describe its client offerings as “the richest, deepest, and fullest range of family office solutions imaginable.” In addition to investment and wealth management, the firm provides family governance, legacy planning and “unique lifestyle services and experiences,” the site says.
The firm also will work with other advisors, according to the site, “helping advisors soar by elevating their offering for sophisticated clients,” as well as assist with growth, transition and business continuity.And finally, Harmony Wealth welcomes partners, associates and communities to explore new ways “to grow, to learn, and to achieve” with the firm, promising access to “unique experiences including wellness retreats” and exclusive events, the site said.
According to the firm’s website, the firm was founded by “an ensemble of senior professionals of highly acclaimed experience.” The Form ADV stated there are three professionals at the firm, two of whom perform investment advisory functions.
One is Matthew S. Morse, who has joined Harmony Wealth as chief investment officer, according to the SEC filing. Morse hails most recently from Clarendon Private LLC, where he was chief equity strategist and portfolio manager from October 2021 to April. He was chief investment officer at Baldwin Brothers for two months in 2016 before going to Eaton Vance Investment Council, according to AdvisorInfo at the SEC.