Business Details
35 Years
experience
Your Trusted Partner for Financial Advisory Services
Wellesley Asset Management is an independent, registered investment advisory firm founded in 1991. Specializing in convertible bonds, we provide institutional clients with a non-traditional approach to achieving returns while mitigating market volatility. Our disciplined strategy focuses on minimizing downside risk and maximizing capital appreciation over full market cycles. With over 25 years of experience managing convertible bonds, our team combines deep expertise in equity, fixed income, and structural analysis to deliver tailored solutions.We serve registered investment advisors, banks, family offices, and pensions, prioritizing principal protection and exceptional client service. Our leadership team, including founders Greg Miller and Michael Miller, brings decades of industry experience and a proven track record of innovation in convertible bond management. We maintain a stable infrastructure, managing approximately $2 billion in assets, and continuously refine our processes to adapt to evolving market conditions.
Services
Convertible Bond Management
Separately Managed Accounts
Private Partnership Strategies
Mutual Fund Offerings
Institutional Investment Advisory
Details
- Year established: 1991
Highlights and features
- We have over 25 years of specialized expertise in convertible bond management.
- Our disciplined strategy balances equity market exposure with principal protection.
- We serve institutional clients with personalized, research-driven investment solutions.
- Our leadership team has launched three proprietary mutual funds since 2008.
- We manage $2 billion in assets with a proven track record across market cycles.
Services
Convertible Bond Management
Our convertible bond management focuses on balanced, at-the-money securities to optimize risk/reward profiles. We combine equity, fixed income, and structural analysis to navigate market cycles. This approach seeks principal protection while capturing equity-like returns with reduced volatility for institutional investors.
Separately Managed Accounts
We offer customized separately managed accounts for institutional clients seeking absolute return strategies. These accounts provide direct ownership of convertible bond portfolios with tailored risk parameters. Our solutions integrate seamlessly with sponsored platforms and private placements for accredited investors.
Mutual Fund Offerings
Our three proprietary mutual funds cater to varying risk tolerances while maintaining a focus on convertible bond expertise. Each fund employs active management to outperform equities and fixed income over full market cycles. Strategies include leveraged approaches available through private placements for qualified clients.
Institutional Investment Advisory
We provide institutional clients with specialized advisory services focused on convertible bond market dynamics. Our team educates financial professionals on risk mitigation techniques and portfolio optimization. Services include portfolio construction guidance and market trend analysis based on decades of experience.
Private Partnership Strategies
Our leveraged convertible bond strategy targets accredited investors through private partnerships. This offering provides access to specialized strategies not available in traditional funds. The approach maintains our core principles of principal protection while pursuing enhanced returns through structured investments.
People
Greg Miller
Founder, Portfolio Manager
Greg founded Wellesley in 1991 after a successful accounting career. With over 35 years of financial experience, he developed the firm's convertible bond strategy. Recognized by Forbes/SHOOK and Barron's, he holds an MBA from Babson College and manages $2 billion in assets.
Michael Miller
Chief Executive Officer
Michael joined Wellesley in 2008, bringing experience from national financial firms. As CEO, he oversees operations and institutional client relationships. Recognized as a Top Next-Gen Wealth Advisor by Forbes/SHOOK, he directs the firm's strategic growth while maintaining its investment discipline.
James Buckham
Portfolio Manager and Co-CIO
Jim joined Wellesley in 2011 with 30+ years of fixed income experience. Formerly at Deutsche Bank and Fidelity Investments, he researches convertible bond opportunities. A CFA charterholder, he graduated from Boston University and earned his MBA from Bentley University.
David Clott
Portfolio Manager and Co-CIO
David joined Wellesley in 2023 with extensive convertible bond expertise. He founded Aviva Investors' global convertible strategies and holds a finance degree from Bryant University. A CFA charterholder, he earned his master's in energy and climate policy from Johns Hopkins University.
Jonathan Straub
Advisory Board Member
Jonathan is a founder of AdvicePeriod, a $5 billion RIA. With executive leadership experience in wealth advisory and FinTech, he advises on strategic growth. He serves on multiple advisory boards and contributes expertise in corporate strategy and technology integration.
Questions
What makes convertible bonds a unique investment option?
Convertible bonds combine equity growth potential with bond-like principal protection. They offer downside risk mitigation while participating in market upswings, historically outperforming equities during volatile cycles with less volatility.
How does Wellesley's approach differ from traditional investment strategies?
We focus exclusively on convertible bonds using active management. Our disciplined process evaluates equity, credit, and structural factors to optimize risk/reward profiles, avoiding highly speculative or distressed securities in favor of balanced positions.
What institutional services do you offer?
We provide separately managed accounts, private partnership strategies, and mutual funds tailored to institutional investors. Our solutions cater to RIAs, banks, family offices, and pensions seeking specialized convertible bond exposure.
How do you manage risk in volatile markets?
Our strategy emphasizes principal protection through balanced convertible bonds trading at par value. We actively monitor holdings and adjust portfolios to maintain downside protection while capturing growth opportunities across market cycles.
What experience does your team bring to clients?
Our leadership team has over 100 combined years of convertible bond experience. Founders Greg and Michael Miller have launched three proprietary mutual funds since 2008, with portfolio managers holding CFA designations and advanced financial degrees.
How can investors access your strategies?
Institutional investors access our strategies through separately managed accounts or private placements. Retail investors can invest via our mutual funds. Contact us at 781-416-4000 for accredited investor opportunities or institutional account setup.
