Investment adviser · CRD 115119

WELCH & FORBES LLC

Investment adviser filing (IA)

BOSTON, MA, United States · Form ADV filed May 19, 2026

Regulatory AUM: $9.9B
Client accounts: 3,734
Employees: 55
Advisory professionals: 12

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
High-net-worth individuals	478	$8,013,248,614	80.9%
Other investment advisers	2	$1,514,958,460	15.3%
Individuals	165	$164,517,733	1.7%
Charities	26	$157,250,462	1.6%
Corporations & businesses	22	$44,873,580	0.5%
Retirement plans	4	$8,609,023	0.1%
Pooled investment vehicles	2	$6,880	0.0%

Filing source

Form ADV 2103408 · May 19, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

14 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

WELCH & FORBES PRIVATE EQUITY III, LLC - SERIES CPrivate Equity Fund · Last reported May 19, 2026$4.42KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity III, LLC- Series C

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-6264086343
Reported beneficial owners: 10
Minimum commitment: $10K
Form D file number: 021-286350

Form ADV 2103408 · May 19, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY II, LLC - SERIES CPrivate Equity Fund · Last reported May 19, 2026$2.46KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity II, LLC- Series C

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-9355186597
Reported beneficial owners: 8
Minimum commitment: $10K
Form D file number: 021-286337

Form ADV 2103408 · May 19, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY II, LLC - SERIES GPrivate Equity Fund · Last reported Mar 22, 2019$168KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity II, LLC- Series G

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-7899558228
Reported beneficial owners: 3
Minimum commitment: $10K
Form D file number: 021-286347

Form ADV 1279358 · Mar 22, 2019 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY III, LLC - SERIES GPrivate Equity Fund · Last reported Mar 22, 2019$69KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity III, LLC- Series G

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-4376635970
Reported beneficial owners: 9
Minimum commitment: $10K
Form D file number: 021-286355

Form ADV 1279358 · Mar 22, 2019 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY III, LLC - SERIES EPrivate Equity Fund · Last reported Mar 15, 2018$29.2KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity III, LLC- Series E

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-5569100943
Reported beneficial owners: 15
Minimum commitment: $10K
Form D file number: 021-286353

Form ADV 1168860 · Mar 15, 2018 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY II, LLC - SERIES EPrivate Equity Fund · Last reported Mar 15, 2018$28.9KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity II, LLC- Series E

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-8890526903
Reported beneficial owners: 17
Minimum commitment: $10K
Form D file number: 021-286342

Form ADV 1168860 · Mar 15, 2018 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WELCH & FORBES PRIVATE EQUITY II, LLC - SERIES DOther Private Fund · Last reported Aug 15, 2017$27.7KGross asset value

Form D fundraising filings

Welch & Forbes Private Equity II, LLC- Series D

Custodian RELIANCE TRUST COMPANY ATLANTA, Georgia, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-2271471144
Reported beneficial owners: 4
Minimum commitment: $10K
Form D file number: 021-286340

Form ADV 1129549 · Aug 15, 2017 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: May 19, 2026. View historical filings

Reported services

Financial planning · Individual portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Fixed

Principal office

45 SCHOOL STREET
BOSTON, MA, 02108, United States

CRD 115119

Filing source

Form ADV 2103408 · May 19, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.