Kelly & Associates, LLC

Kelly & Associates provides investment supervisory and individual portfolio management to a small client base that includes both individual and high-net-worth clients, as well as pension plans, charitable organizations and businesses. The firm manages roughly $9.4 million across 26 client relationships and delivers continuous, personalized advice to establish investment policies and transition existing portfolios.

The firm operates almost entirely on a non‑discretionary basis, implementing recommendations only with client approval and allowing clients to direct broker selection; portfolios are typically built with no-load mutual funds and the firm commonly recommends Dimensional Fund Advisors funds as core holdings, while also using ETFs, individual securities and options hedging when appropriate. Kelly & Associates emphasizes asset allocation and fundamental analysis, conducts monthly account reviews, and permits clients to impose reasonable investment restrictions.

What is notable about the firm compared with many peers is that a substantial portion of its business is securities litigation and consulting (about 65% of revenues), and senior management devotes significant time to those consulting services (approximately half of their time), while advisory activities remain largely non‑discretionary; the firm also does not vote client proxies and requires clients to retain custody and direction over brokerage.