Cambridge, MD Office

Folger Nolan Fleming Douglas Incorporated operates a limited private wealth management business that provides non-discretionary, fee-based investment advisory services to a single ultra-high-net-worth family client across three accounts. The PWM Business is currently available only to that client and is not offered to other clients.

FNFD’s Account Executives meet with the client to assess investment objectives, financial circumstances and risk tolerance and to customize a management strategy that may include equities, fixed income, mutual funds and ETFs while coordinating with the client’s other advisors on estate and cash-flow matters. The client directs brokerage to FNFD with execution and clearing performed by Pershing, and FNFD may receive both advisory fees and brokerage commissions on transactions.

Distinctive features include FNFD’s dual registration as a broker-dealer and SEC-registered investment adviser (with NYSE and FINRA membership) and the brochure’s emphasis that the PWM assets are managed on a non-discretionary basis (approximately $637.7 million for the PWM client as of December 31, 2025). The firm also discloses a separate wholly owned discretionary advisory subsidiary (CMI), the exclusion of certain legacy low-cost-basis equity positions from fee calculations, and that FNFD does not vote proxies for the PWM client.