Adage Investment Advisors, L.L.C.

Adage Investment Advisors, L.L.C. is a very small, independent advisory firm that serves a limited number of individual clients—many of whom are high‑net‑worth—and, to a lesser extent, small businesses and trusts. The firm provides discretionary portfolio management across equities, fixed income, mutual funds and ETFs and requires client custodial accounts on the Charles Schwab institutional platform.

The firm’s investment process centers on an asset‑allocation decision tied to clients’ income needs and loss tolerance, with fundamental security selection and a value-oriented, Benjamin Graham–influenced stance; it may use inverse ETFs tactically and intentionally holds elevated cash positions for extended periods to time purchases. All accounts are managed on a discretionary basis, and the firm does not accept client-imposed trading restrictions or take proxy voting authority.

Adage is a solo-practitioner practice with a very small client roster and a concentrated level of assets under management per client, which creates a hands-on advisor relationship uncommon among peers of similar registration. The brochure also discloses several notable practices and potential conflicts that differ from many peers: the principal operates a separate tax-preparation business that serves some advisory clients, the firm receives institutional “soft-dollar” benefits through its Schwab relationship, and it routinely charges advisory fees on sizable idle cash balances.