WELCH & FORBES LLC

CRD 115119File 801-60532

APPROVED

Retail clients

Custody

Filing as of May 19, 2026

Feed vintage Aug 17, 2026

Regulatory AUM

$9.90B

Top 10% of cohort (national)

Discretionary AUM

$9.66B

Non-discretionary $242.9M

Clients

699

3,734 accounts

Employees

Top 25% of cohort in MA

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: BRO
Registration date: Aug 31, 2001
Principal office: 45 SCHOOL STREET, BOSTON, MA, 02108
Phone: 617-523-1635
Website: HTTP://WWW.WELCHFORBES.COM

Assets & accounts

ADV Item 5F

Total regulatory AUM: $9.90B
Discretionary AUM: $9.66B
Non-discretionary AUM: $242.9M
Discretionary accounts: 3,690
Non-discretionary accounts: 44
Total accounts: 3,734
AUM per client: $14.2M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Other	22	$44.9M
Charitable organizations	26	$157.3M
Other investment advisers	2	$1.51B
High net worth individuals	478	$8.01B
Pooled investment vehicles	2	$7K
Pension and profit sharing plans	4	$8.6M
Individuals (other than high net worth individuals)	165	$164.5M

Compensation & activities

ADV Items 5E, 5G

Compensation

Fixed fees
A percentage of assets under your management

Advisory activities

Financial planning services
Portfolio management for businesses
Portfolio management for pooled investment vehicles
Portfolio management for individuals and/or small businesses

Custody

ADV Item 9

Firm Custody Cash: Yes
Firm Custody Assets: No
Firm Custody Clients: No
Firm Custody Securities: Yes
Related Person Custody Cash: Yes
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: No

Disclosure events

ADV Item 11

This firm answered no to every Item 11 disclosure question in this filing.

Filed changes

Date	Field	From	To
Aug 12, 2026	Registration	—	APPROVED

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.