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RIA / WealthRegistered adviserindependent wealth managerSEC registeredRAUM 1b 10b

BALDWIN INVESTMENT MANAGEMENT, LLC

CRD 108922

WEST CONSHOHOCKEN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:448c4f02-9bd9-56bd-4caf-ee911b12b35c

Data as of Mar 16, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 5:32 PM UTC and rebuilt at most every 15 minutes.

Relationships: 8
Dated events: 4
On other graphs: 0
Observed: Mar 14, 2012 to Mar 16, 2026
28 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: independent wealth managerderivedprivate_client_share=0.91 fund_share=0.0 institutional_share=0.08 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $1.3BItem 5.F on the latest filing (2026-03-16); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $1.0B
Private client RAUM: $1.2BderivedItem 5.D individuals plus high net worth individuals
Private client share: 91%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 3
RAUM per advisor: $432Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 14
Advisory employees: 11
Offices: 1Schedule D 1.F, beyond the principal office
Accounts: 707
Individual clients: 111
High net worth clients: 157
Custody, client assets: $1.2B
SEC number: 801-56558
CIK: 1346378
CRD: 108922
Filings on the tape: 28
First filed: Mar 14, 2012
Latest filed: Mar 16, 2026
Organised: Limited Liability Company, PA
Website: baldwinmgt.com

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
GARY STUART HESS	Chartered Financial Analyst	WEST CONSHOHOCKEN, PA	8	31	3	no
JARED VAN DYKE QUEREAU	n/a	WEST CONSHOHOCKEN, PA	5	26	2	no
DAVID CHRISTOPHER PEPPARD	n/a	WEST CONSHOHOCKEN, PA	0	17	1	no

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
BALDWIN MANAGEMENT, LLC	SOLE MEMBER	E	yes	07/1999	Mar 16, 2026	Mar 16, 2026
GORELLI, SUSAN, BERRY	CHIEF EXECUTIVE OFFICER	B	yes	01/2023	Mar 16, 2026	Mar 16, 2026
HAVENS, PETER, HESSENBRUCH	CHAIRMAN OF BOARD OF MANAGERS	B	yes	05/1999	Mar 16, 2026	Mar 16, 2026
MCCLOY, CHRISTINA, MICHELLE	CHIEF COMPLIANCE OFFICER	Na	yes	01/2024	Mar 16, 2026	Mar 16, 2026
W. PAUL HAVENS, JR. AND IDA H. HAVENS TRUST F/B/O PETER H. HAVENS	MAJORITY INTEREST HOLDER	C	no	07/1999	Mar 14, 2012	Mar 14, 2024

Offices

Schedule D 1.F offices beyond the principal office; street addresses are not published

City	State	Country	Employees	Also broker-dealer
WEST CHESTER	Pa	United States	2	no
WEST CHESTER	Pa	United States	1	no

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 16, 2026	$1.3B	$1.0B	14	11	1	n/a	n/a
2024	Apr 10, 2025	$1.2B	$937M	12	8	1	n/a	n/a
2023	Mar 14, 2024	$1.1B	$833M	16	9	2	n/a	n/a
2022	Mar 17, 2023	$1.0B	$686M	12	8	2	n/a	n/a
2021	Mar 2, 2022	$1.1B	$758M	12	8	2	n/a	n/a
2020	Mar 5, 2021	$1.0B	$628M	11	8	2	n/a	n/a
2019	Feb 21, 2020	$801M	$465M	8	8	2	n/a	n/a
2018	Mar 14, 2019	$703M	$394M	8	8	2	n/a	n/a
2017	Mar 27, 2018	$675M	$353M	8	8	1	n/a	n/a
2016	Mar 9, 2017	$325M	$308M	8	6	n/a	n/a	n/a
2015	Mar 24, 2016	$307M	$293M	8	6	n/a	n/a	n/a
2014	Mar 19, 2015	$348M	$329M	8	6	n/a	n/a	n/a
2013	Mar 21, 2014	$307M	$288M	8	6	n/a	n/a	n/a
2012	Mar 15, 2013	$257M	$240M	6	6	n/a	n/a	n/a
2011	Mar 14, 2012	$246M	$221M	n/a	n/a	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
1	0	1	0.0%	0	0	0	1	0

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$1.3B	$1.2B	4.9%	$1.0B	8.0%	14	12	1	1

Relationships

Registered with (3)

← DAVID CHRISTOPHER PEPPARDAdvisorregistration: current employment
Mar 20, 2026 to presentfactForm ADV
← JARED VAN DYKE QUEREAUAdvisorregistration: current employment
Jan 20, 2021 to presentfactForm ADV
← GARY STUART HESSAdvisorregistration: current employment
Apr 17, 2018 to presentfactForm ADV

Controls (4)

← HAVENS, PETER, HESSENBRUCHOwnerCHAIRMAN OF BOARD OF MANAGERS, ownership code B, individual
Mar 14, 2012 to Mar 14, 2024factForm ADV
← GORELLI, SUSAN, BERRYOwnerCHIEF EXECUTIVE OFFICER, ownership code B, individual
Mar 17, 2023 to Mar 14, 2024factForm ADV
← MCCLOY, CHRISTINA, MICHELLEOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Mar 14, 2024 to Mar 14, 2024factForm ADV
← BALDWIN MANAGEMENT, LLCOwnerSOLE MEMBER, ownership code E, domestic entity
Mar 14, 2012 to Mar 14, 2024factForm ADV

Owns (1)

← W. PAUL HAVENS, JR. AND IDA H. HAVENS TRUST F/B/O PETER H. HAVENSOwnerMAJORITY INTEREST HOLDER, ownership code C, domestic entity
Mar 14, 2012 to Mar 14, 2024factForm ADV

Dated events

Occurred
Mar 14, 2024
Control person joined
Michelle Christina Mccloy (Chief Compliance Officer) appeared on Schedule A of Baldwin Investment Management, Llc
Form ADVobserved 6 days ago
Occurred
Mar 17, 2023
Control person joined
Berry Susan Gorelli (Chief Executive Officer) appeared on Schedule A of Baldwin Investment Management, Llc
Form ADVobserved 6 days ago
Occurred
Mar 5, 2021
Regulatory AUM changed
Baldwin Investment Management, Llc reported RAUM $1.0B, up 26% from $801.3M (2021-01-20 to 2021-03-05)
Form ADVobserved 6 days ago
$205M
Occurred
Mar 27, 2018
Regulatory AUM changed
Baldwin Investment Management, Llc reported RAUM $674.8M, up 107% from $325.3M (2017-03-16 to 2018-03-27)
Form ADVobserved 6 days ago
$349M

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:448c4f02-9bd9-56bd-4caf-ee911b12b35c
First observed: Mar 14, 2012
Last observed: Mar 16, 2026 6 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

BALDWIN INVESTMENT MANAGEMENT, LLC

CRD 108922

WEST CONSHOHOCKEN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:448c4f02-9bd9-56bd-4caf-ee911b12b35c

Data as of Mar 16, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 5:32 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

GARY STUART HESS

Chartered Financial Analyst

WEST CONSHOHOCKEN, PA

JARED VAN DYKE QUEREAU

n/a

WEST CONSHOHOCKEN, PA

DAVID CHRISTOPHER PEPPARD

n/a

WEST CONSHOHOCKEN, PA

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

BALDWIN MANAGEMENT, LLC

SOLE MEMBER

yes

07/1999

Mar 16, 2026

GORELLI, SUSAN, BERRY

CHIEF EXECUTIVE OFFICER

yes

01/2023

Mar 16, 2026

HAVENS, PETER, HESSENBRUCH

CHAIRMAN OF BOARD OF MANAGERS

yes

05/1999

Mar 16, 2026

MCCLOY, CHRISTINA, MICHELLE

CHIEF COMPLIANCE OFFICER

yes

01/2024

Mar 16, 2026

W. PAUL HAVENS, JR. AND IDA H. HAVENS TRUST F/B/O PETER H. HAVENS

MAJORITY INTEREST HOLDER

07/1999

Mar 14, 2012

Mar 14, 2024

City

State

Country

Employees

Also broker-dealer

WEST CHESTER

United States

WEST CHESTER

United States

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 16, 2026

$1.3B

$1.0B

n/a

2024

Apr 10, 2025

$1.2B

$937M

n/a

2023

Mar 14, 2024

$1.1B

$833M

n/a

2022

Mar 17, 2023

$1.0B

$686M

n/a

2021

Mar 2, 2022

$1.1B

$758M

n/a

2020

Mar 5, 2021

$1.0B

$628M

n/a

2019

Feb 21, 2020

$801M

$465M

n/a

2018

Mar 14, 2019

$703M

$394M

n/a

2017

Mar 27, 2018

$675M

$353M

n/a

2016

Mar 9, 2017

$325M

$308M

n/a

2015

Mar 24, 2016

$307M

$293M

n/a

2014

Mar 19, 2015

$348M

$329M

n/a

2013

Mar 21, 2014

$307M

$288M

n/a

2012

Mar 15, 2013

$257M

$240M

n/a

2011

Mar 14, 2012

$246M

$221M

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$1.3B

$1.2B

4.9%

$1.0B

8.0%