# Hemenway & Barnes Hemenway & Barnes is a Bank / Wealth / Trust based in Boston, United States. ## Overview - **Organization type:** Bank / Wealth / Trust - **Headquarters:** Boston, United States - **Region:** North America - **Address:** Boston, MA, United States - **Founded:** 1863 - **Assets under management:** Undisclosed - **Website:** hembar.com - **LinkedIn:** https://www.linkedin.com/company/hemenway-barnes ## Regulatory record - **Reports private funds:** No ## About Founded in 1863, Hemenway & Barnes emerged during the industrial expansion that created many of New England's great fortunes, positioning itself as trusted legal counsel to families navigating newly accumulated wealth. The firm's founding partners built a practice around the idea that legal advice and fiduciary administration belong under one roof, a structure that still defines the firm today. It has advised generations of the same families through wars, depressions, and successive tax regimes. The firm's strategy centers on trustee-directed portfolio management, where investment decisions flow from a fiduciary duty that is legally enforceable and reviewed by courts. Asset-class exposure typically spans public equities, fixed income, commercial real estate, and private investment funds, though allocations are tailored to each trust's governing instrument and beneficiary needs. Unlike advisors chasing AUM growth, Hemenway & Barnes has historically grown by court appointment and professional referral, managing assets as a directed trustee for irrevocable trusts, charitable remainder trusts, and private foundations. Team scale remains deliberately modest. The firm operates from a single office at 75 State Street in Boston, with no branch network, reinforcing its identity as a concentrated, relationship-driven practice rather than a distribution platform. Its professionals include trust officers, tax specialists, and portfolio managers who work alongside the firm's legal staff. In recent years, the firm has deepened its capabilities as a professional trustee for private foundations, handling grant administration and compliance as an integrated service. What distinguishes Hemenway & Barnes is its unusual hybrid structure: a law firm that also functions as a regulated trust company and investment manager. This architecture means families interact with a single institution for estate planning, trust administration, investment management, and philanthropic governance — without the coordination gaps common when these functions sit across separate law firms, banks, and advisory shops. The model has proven durable enough to survive more than 160 years of industry consolidation. ## People - Brad Bedingfield — Partner - Teresa A. Belmonte — Partner - Joseph L. Bierwirth, Jr. — Partner - Brian C. Broderick — Partner - Dennis R. Delaney — Partner - Nancy E. Dempze — Partner - Mark B. Elefante — Partner - Kevin M. Ellis — Partner - Eleanor A. Evans — Partner - Stephen W. Kidder — Partner - Steven L. Mangold — Partner - Ryan P. McManus — Partner - Charles R. Platt — Partner - Michael J. Puzo — Partner - Johanna W. Schneider — Partner - John J. Siciliano — Partner - Sarah M. Waelchli — Partner ## Questions ### Is Hemenway & Barnes a law firm or a wealth manager? It is both. The firm operates as a law practice and a Massachusetts-chartered trust company, allowing its attorneys to serve as professional trustees while also directing investment portfolios. This integrated model is rare — most law firms refer trust administration and asset management to outside banks or trust companies. ### Does Hemenway & Barnes take discretionary investment authority? Yes, when acting as trustee. The firm manages portfolios on a fully discretionary basis subject to the terms of each trust instrument and the Massachusetts prudent investor rule. Its investment committee makes allocation decisions across public and private markets, with a long-standing focus on capital preservation and intergenerational purchasing power. ### What types of clients does Hemenway & Barnes typically serve? The firm serves high-net-worth families, private foundations, and nonprofit endowments. Many relationships span multiple generations and center on irrevocable trusts where the firm serves as corporate trustee. It also provides outside general counsel to closely held businesses and family offices. ### Does Hemenway & Barnes accept outside capital or manage commingled funds? It does not operate public mutual funds, ETFs, or retail pooled vehicles. The firm manages separate accounts for individual trusts, estates, and foundations. This keeps each family's assets legally segregated and allows portfolio customization aligned with trust distribution requirements and tax circumstances. ### How is Hemenway & Barnes governed, and who runs investment decisions? The firm is owned by its equity partners. An investment committee drawn from senior attorneys and trust officers oversees asset allocation and manager selection. Because the firm's trustee authority carries a legal fiduciary standard, all investment decisions are documented to that standard and are subject to probate court review when trusts are supervised. ## Related profiles - [Helvetia Pension Fund](https://altss.com/profile/helvetia-pension-fund) - [Hemista](https://altss.com/profile/hemista) --- Last updated: 2026-07-06T00:34:21.727Z Canonical page: https://altss.com/profile/hemenway-barnes Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology