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Washington, DC Office

Team
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Marshfield Associates

Multi-team

Firm-wide stats for Marshfield Associates

Total advisors

10

Across 2 offices

Clients per advisor

395 Very High

Avg AUM per client

$1,189,546 High

HNW client ratio

22% Typical

About

Marshfield Associates is a registered investment adviser managing approximately $8.12 billion for a mix of institutional and individual clients. Its client base includes high‑net‑worth individuals and, unusually for firms of this size, state and municipal government entities, investment companies, and sovereign wealth funds; services are delivered through separately managed accounts, wrap‑fee and model portfolio programs, and a 1940 Act mutual fund.

Marshfield is a long‑only value investor running a concentrated Core Value Equity Strategy that typically holds about 16–20 stocks and an optional Balanced Strategy that adds fixed income; the firm emphasizes quality, conservative intrinsic value estimates, and a strict margin‑of‑safety buy discipline and is willing to hold substantial cash while waiting for target prices. Research is conducted in‑house by a seven‑member team (six analysts and one economist) with four principals as voting members, and trades for new positions may be executed over days, weeks, or months; the firm will, upon specific client request, enter performance‑based fee arrangements and manages accounts side‑by‑side with its registered fund.

Marshfield’s operational profile is distinctive for its high client count relative to advisory headcount — nearly 3,946 clients served by ten advisors — reflecting scale through wrap and model programs and a general practice of not tailoring advisory services to most clients. The firm also typically does not offer financial planning, a feature that is less common among peers, and combines concentrated, patient value investing with the capability to serve both large institutional investors and many retail accounts.

Based on Marshfield Associates

Expertise

Concentrated stock management Active portfolio management Wealth management

Based on Marshfield Associates

Location

1330 Connecticut Ave NW, Suite 400

Washington DC 20036

Advisors at this office

9

Advisors at this office

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Christopher N

Series 65

Washington, DC

Marshfield Associates

Christopher Niemczewski is a financial advisor at Marshfield Associates with 33 years of industry experience. He holds a Series 65 credential and has been with Marshfield Associates since 2009. Marshfield Associates is a registered investment adviser managing approximately $8.12 billion for a diverse client base that includes high-net-worth individuals, state and municipal government entities, investment companies, and sovereign wealth funds. The firm specializes in long-only value investing through a concentrated Core Value Equity Strategy and an optional Balanced Strategy, emphasizing quality and a strict margin-of-safety discipline.

Concentrated stock management Active portfolio management Wealth management
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Richard S

Series 65

Washington, DC

Marshfield Associates

Richard Seaton is a Series 65-licensed financial advisor at Marshfield Associates with eight years of industry experience. He has worked at Marshfield Associates since 2017 and previously spent six years at TTR Sotheby's Realty and 20 years at Impact Marketing + Communications. Marshfield Associates serves a diverse client base that includes high net worth individuals, institutional investors, and government entities. The firm employs a long-only, value-oriented investment approach focused on a concentrated Core Value Equity Strategy with an emphasis on quality and intrinsic value.

Concentrated stock management Active portfolio management Wealth management
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Melissa V

Series 63, Series 65

Washington, DC

Marshfield Associates

Melissa Vinick is a financial advisor at Marshfield Associates with 29 years of industry experience. She holds Series 63 and Series 65 licenses and has worked at firms including Bushido Capital Partners LLC, Yogi Advisors LLC, and Ferris, Baker Watts, LLC. Vinick has been with Marshfield Associates since 1999. Marshfield Associates manages approximately $8.12 billion for a diverse client base that includes high-net-worth individuals, state and municipal government entities, investment companies, and sovereign wealth funds. The firm employs a long-only value investment approach focused on a concentrated Core Value Equity Strategy and an optional Balanced Strategy that adds fixed income.

Concentrated stock management Active portfolio management Wealth management
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Amie P

Series 65

Washington, DC

Marshfield Associates

Amie Perl is a Series 65-licensed financial advisor at Marshfield Associates with three years of industry experience. Prior to joining Marshfield Associates, she worked for twelve years at Little Leaves Behavioral Services. Marshfield Associates is a registered investment adviser serving a diverse client base that includes high net worth individuals, pension plans, foundations, and government entities. The firm employs a long-only, value-oriented investment approach focused on a concentrated Core Value Equity Strategy and offers discretionary separately managed accounts, model portfolios, and the Marshfield Concentrated Opportunity Fund.

Concentrated stock management Active portfolio management Wealth management
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Chad G

Series 65

Washington, DC

Marshfield Associates

Chad Goldberg is a financial advisor at Marshfield Associates in Washington, DC, holding a Series 65 credential with 16 years of industry experience. He has been with Marshfield Associates since 2009. Marshfield Associates is a registered investment adviser managing approximately $8.12 billion for a mix of institutional and individual clients, including high-net-worth individuals, state and municipal government entities, investment companies, and sovereign wealth funds. The firm employs a long-only value investing approach with a concentrated Core Value Equity Strategy and an optional Balanced Strategy, emphasizing quality and a strict margin-of-safety buy discipline.

Concentrated stock management Active portfolio management Wealth management
user avatar

Andrew C

Series 65, Series 66

Washington, DC

Marshfield Associates

Andrew Clark Jr. is a financial advisor at Marshfield Associates with seven years at the firm and a total of ten years in the industry. He holds Series 65 and Series 66 licenses and previously worked at Arthur Gallagher & Co for three years. Marshfield Associates manages approximately $8.12 billion for a diverse client base that includes high-net-worth individuals, institutional investors, and government entities. The firm employs a long-only value investing approach focused on a concentrated portfolio and a disciplined margin-of-safety strategy.

Concentrated stock management Active portfolio management Wealth management
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Judith B

Series 65

Washington, DC

Marshfield Associates

Judith Becker is a financial advisor at Marshfield Associates with six years of industry experience. She holds a Series 65 designation and has been with Marshfield Associates since 2018. Prior to joining the firm, she worked at the US Department of Education for 11 years. Marshfield Associates is a registered investment adviser serving a diverse client base, including high net worth individuals, pension plans, foundations, and government entities. The firm employs a long-only, value-oriented investment approach focused on a concentrated Core Value Equity Strategy and offers discretionary and non-discretionary portfolio management services.

Concentrated stock management Active portfolio management Wealth management
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Kathryn C

Series 65

Washington, DC

Marshfield Associates

Kathryn Cotter is a Series 65-licensed financial advisor with Marshfield Associates in Washington, DC, where she has worked since 2024. She has six years of prior experience at Nexercise, Inc. and five years at BET Networks. Marshfield Associates is a registered investment adviser serving a diverse client base that includes high net worth individuals, pension plans, foundations, government entities, sovereign wealth funds, and investment companies. The firm employs a long-only, value-oriented investment approach focused on a concentrated Core Value Equity Strategy, supported by in-house research and a willingness to hold substantial cash positions.

Concentrated stock management Active portfolio management Wealth management
user avatar

Elise H

Series 65

Washington, DC

Marshfield Associates

Elise Hoffmann is a Series 65-licensed financial advisor with 29 years of industry experience, currently at Marshfield Associates. She has worked at Marshfield Associates since 1997 and previously at Bushido Capital Partners LLC and Yogi Advisors, LLC. Marshfield Associates is a registered investment adviser managing approximately $8.12 billion for a diverse client base including high-net-worth individuals, state and municipal government entities, investment companies, and sovereign wealth funds. The firm employs a long-only value investing approach with a concentrated Core Value Equity Strategy and an optional Balanced Strategy, emphasizing quality and a strict margin-of-safety buy discipline.

Concentrated stock management Active portfolio management Wealth management
View complete list of advisors at this office
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