Hermitage Advisors, Ltd.

Hermitage Advisors, Ltd. provides investment advisory services to high‑net‑worth individuals, offering customized portfolio management and manager‑selection services for a small client roster (12 clients) and reporting $18.3 million in assets under management as of December 31, 2025. The firm constructs discrete, manager‑based portfolios, communicates ongoing information to clients, and does not participate in wrap fee programs.

Investment decisions are informed by an overall thesis developed from an extensive, multi‑decade network of research and information sources, after which the firm allocates across asset classes and unaffiliated managers to implement that thesis. The firm favors conservative, long‑term investments and rarely trades individual securities; managers and strategies are vetted and monitored on an ongoing basis, and account activity is handled primarily on a non‑discretionary basis with client approval for transactions.

Distinctive features include the firm’s predominately non‑discretionary asset base—its reported AUM is managed without discretionary authority—which is uncommon among peers in this category, and its exclusive focus on high‑net‑worth clients rather than lower‑net‑worth individuals. The brochure also notes a broad menu of recommended vehicles (mutual funds, limited partnerships, direct investments, and LLCs) and reliance on custodial and support services from Charles Schwab, a relationship the firm discloses as creating potential conflicts of interest.