Wellspring Financial, LLC

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Client assets under management

$69,351,082

Clients

112

20% high-net worth

Advisors

of 3 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

Low

Average account size

$619,206

About

Wellspring Financial serves individual clients, including high-net-worth households, by providing discretionary and non-discretionary portfolio management alongside financial planning services. The firm advises on mutual funds, exchange-traded funds, and variable annuities and implements model portfolios as the basis for client allocations.

The firm’s investment work is model-driven and grounded in modern portfolio theory, emphasizing long-term purchases, diversification, and periodic rebalancing; clients invested in model portfolios generally may not restrict specific holdings within those models. Wellspring recommends and routinely directs custody and trade execution to a single custodian through a custodial program and charges asset-based advisory fees billed on a regular basis.

A notable distinction is that the firm’s principals are licensed insurance agents who may sell insurance products and variable annuities for commission in addition to charging asset-based advisory fees, a practice the brochure identifies as a potential conflict of interest and which is uncommon among peers. The brochure also discloses a past compliance lapse involving late registration in one state and notes the firm’s participation in a custodial program that provides benefits to the adviser, which may indirectly influence custody recommendations.

Client services

Financial planning Portfolio management

Insurance products offered as independent agents include life, long term care, long term disability, and annuities

Expertise

Annuities

Fee options

Fixed

Financial planning services fixed fees ranging from $1,000 to $5,000, negotiable based on complexity and scope.

Percentage

0.75% - 1.20% annually, varying based on assets under management and complexity of services

Commissions

Licensed insurance agents affiliated with the firm earn commissions on insurance products sold, which is separate from advisory fees.

Other

Account minimum: No minimum stated; however, the firm may terminate accounts they determine are too small to manage effectively or not in the client's best interest. Fee-only: Portfolio management fees are annual fees between 0.75% and 1.20% of assets under management, billed quarterly in arrears.

Main office location

Wellspring Financial, LLC

South Windsor CT, United States

Number of offices

Most active in

Connecticut · Massachusetts · New York

Disclosures

Business activities & affiliations

Is not active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure

Quick links

LinkedIn Facebook Website 860-305-2515

Advisors at this firm

Brian A

CFP®, Series 65

Guilford, CT

Wellspring Financial, LLC

Brian Andrus is a CFP® with 39 years of industry experience. He has been with Wellspring Financial, LLC since 2017 and previously operated the Andrus Agency since 1995. Wellspring Financial serves individual clients, including high-net-worth households, offering discretionary and non-discretionary portfolio management alongside financial planning. The firm employs a model-driven investment approach based on modern portfolio theory, emphasizing diversification and long-term holdings.

Annuities

Matthew D

ChFC®, Series 65

Simsbury, CT

Wellspring Financial, LLC

Matthew Dreier Jr. is a financial advisor at Wellspring Financial, LLC with seven years of industry experience. He holds the ChFC® designation and Series 65 license. Prior to joining Wellspring Financial in 2018, he worked at Aetna from 2012 to 2018. Wellspring Financial serves individual clients, including high-net-worth households, offering discretionary and non-discretionary portfolio management alongside financial planning. The firm uses a model-driven investment approach based on modern portfolio theory, emphasizing diversification, long-term holdings, and periodic rebalancing.

Annuities

Michael P

ChFC®

South Windsor, CT

Wellspring Financial, LLC

Michael Puckly is a ChFC® with 34 years of industry experience. He has been with Wellspring Financial, LLC since 2017 and previously worked at Lifeline Financial, LLC from 2008 to 2017. Outside of his advisory role, he serves on the Executive Committee of Riverfront Recapture. Wellspring Financial serves individual clients, including high-net-worth households, offering discretionary and non-discretionary portfolio management alongside financial planning. The firm uses a model-driven investment approach grounded in modern portfolio theory, focusing on long-term purchases, diversification, and periodic rebalancing.

Annuities

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