Top Financial Advisors in Massachusetts

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GW&K Investment Management leads our list of registered investment advisors in Massachusetts. As a discretionary asset management firm it serves a broad array of clients: private or high-net-worth clients, estates, pension and profit-sharing plans, charitable foundations, endowments, corporations, private funds, mutual funds and trusts, among other entities.

The firm serves three distinct groups, the institutional, advisory and private client markets. Account minimums vary by asset class and GW&K strategy. Minimum account size is negotiable and may be waived or modified at GW&K’s discretion. In circumstances where GW&K serves as an adviser within a wrap fee program or where GW&K is an adviser or subadviser to other funds or accounts, the account minimums are generally determined by the relevant program sponsor, fund or account.

GW&K is fee-only, meaning its sole source of revenue is fees paid by clients. It does not receive commissions for the sale of insurance products, like annuities, from third parties. GW&K specializes in municipal bond, taxable bond, equity and balanced strategies. The firm is a research-oriented adviser using primarily fundamental analysis for the evaluation of investment opportunities and the construction of investment portfolios. 

Fundamental analysis involves researching the quantitative and qualitative characteristics of a security, taking into account applicable economic, industry, or other external considerations to try to determine its intrinsic value. In addition to fundamental security analysis, GW&K may also employ varying degrees of macroeconomic, sector, industry, interest rate or policy analysis in formulating investment decisions or constructing investment portfolios.

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Flagship Harbor Advisors is a fee-based advisory firm based in Boston. Founded in 2010, the firm serves individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. The firm does not impose a minimum portfolio size or minimum annual fee for its advisory program, though certain third-party managers used by the firm may have their own minimum requirements.

The firm’s financial planning services may cover business planning, investment planning, insurance planning, retirement planning, education planning, estate planning, tax planning and cash flow planning. When managing client assets, Flagship Harbor Advisors may use long-term and short-term purchases, mutual funds, exchange-traded funds, individual equities, separately managed accounts and independent investment managers.

Flagship Harbor Advisors may rely on fundamental, technical and cyclical research, as well as software-driven analysis, when evaluating investments. For certain clients, the firm may also use leveraged or inverse ETFs, options for hedging, margin borrowing if authorized and allocations to private investment funds on a non-discretionary basis. 

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Headquartered in Newton, Massachusetts, RWA Private Wealth is a division of RWA Wealth Partners, LLC. The firm works with individuals, families, trusts, charitable organizations, business entities, retirement and profit-sharing plans and certain institutional clients. RWA generally requires a minimum aggregate account value of $500,000, though accounts within one household may be combined to meet this minimum and the firm may waive the requirement at its discretion.

RWA Private Wealth is a fee-based firm. Clients are generally charged for advisory services based on a percentage of assets under management. The firm’s standard asset-based advisory fee schedule starts at 1.25% on assets up to $500,000 and declines at higher asset levels, with fees over $25 million listed as negotiable.

The firm offers discretionary and non-discretionary investment management, financial planning, custom fixed income and cash management, integrated tax planning, estate and legacy planning coordination, retirement plan advisory services and family office services.

RWA generally uses asset allocation-based long-term investment strategies, though it may make shorter-term tactical allocation adjustments. Client portfolios may include mutual funds, ETFs, third-party separate accounts, individual stocks, fixed income securities, private funds for qualified clients and ESG or impact investing strategies. 

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St. Germain Investment Management, Inc. is a Springfield, Massachusetts-based advisory firm that serves individuals, high-net-worth individuals, families, businesses, nonprofits and institutional clients. Its client base also includes pension and profit-sharing plans, plan participants, charitable organizations and corporations. St. Germain is a fee-based firm, meaning some advisory personnel are licensed insurance agents and affiliated entities may receive insurance-related compensation.

The firm generally opens accounts with more than $100,000, though this minimum may be negotiable. Mutual fund and ETF managed portfolios are typically reserved for accounts of at least $100,000, while separately managed accounts typically require at least $250,000. The firm offers services that include discretionary portfolio management, mutual fund and ETF managed portfolios, financial planning, business and securities consulting, and custody or servicing arrangements for accounts with little or no active trading.

When building client portfolios, St. Germain generally takes a long-term approach rather than attempting to manage short-term market fluctuations. Its process may include macroeconomic, sector and industry analysis, fundamental and technical analysis, asset allocation modeling and individual security selection within model portfolios. Portfolios may include stocks, bonds, cash alternatives, mutual funds and ETFs, and the firm may use ESG or socially responsible investment options through sector-specific funds.

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Loring, Wolcott & Coolidge Fiduciary Advisors has a large base of individual clients, all of whom have a high net worth. The firm has a $2 million relationship minimum, though it may waive this requirement. Aside from individuals, the firm also manages funds for retirement accounts, foundations, endowments and businesses.

Loring, Wolcott & Coolidge Fiduciary Advisors was established in 1994 and remains employee-owned by the firm’s trustees, two former trustees and one former senior manager. This firm has a family office to provide complete financial planning services across generations, as well as other offerings for individuals. These include charitable gift planning, tax planning, estate planning and financial planning.

According to its Form ADV, Loring, Wolcott & Coolidge invests client assets mostly in what it deems “high-quality growth stocks.” It does this as a way to combine the benefits of long- and short-term investing, as it will hold onto your securities for long periods of time to reduce taxes, trading fees and other extraneous costs.

Although the firm has its own set of investment ideologies and is confident in them, it does allow you, the client, some level of control over your account. In other words, if you disagree with a decision from the firm, or you have some of your own ideas, tell your advisor and he or she will like make the change.

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The next firm on this list is SCS Capital Management, an extremely large advisory practice based in Boston. When it comes to individuals, the firm only serves those with a high net worth. This is likely due to the firm's requirement that clients have at least $25 million in investable assets. SCS also has an institutional business, advising pooled investment vehicles, charitable organizations and sovereign wealth funds/foreign official institutions.

Clients are charged for wealth management based on a percentage of assets under management (AUM) and some funds charge a performance fee. Though the firm’s parent company does own broker-dealers, advisors at SCS do not earn commissions.

At SCS, investment strategies are made for each client in a way that makes sense for their situation, taking into consideration asset allocation and portfolio design. Both risk tolerance and return objective are part of that calculation.

SCS relies on low-cost, liquid and passave strategies "in areas of the capital markets where active management has shown difficulties in producing excess returns," the firm states on its website. The firm also looks to partner with highly skilled active managers to exploit market inefficiencies. To that end, the firm uses both commercially available and proprietary databases to track the universe of investment managers in traditional and alternative investments.  

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Winthrop Wealth is a fee-based advisory firm based in Boston. The firm serves individuals and families, high-net-worth individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, endowments, nonprofits, corporations, business entities, entrepreneurs, business owners and donor-advised fund account holders, among other clients. The firm does not currently require a minimum account size, though custodian or platform minimums may apply.

The firm provides comprehensive wealth management planning, financial and retirement planning, discretionary and non-discretionary investment management and wrap fee program management. It also offers donor-advised fund account management through LPL’s platform, collateralized lending support and investment program development. 

Winthrop Wealth uses several methods of analysis, including fundamental, technical, charting, cyclical and quantitative analysis. The firm also incorporates Modern Portfolio Theory, long-term asset allocation and active and passive management. Depending on the client’s objectives and qualifications, the firm may use alternative investments, options, margin, short sales, leverage or derivatives.

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What will likely immediately jump out to you about Ballentine Partners is its $3.5 million minimum account size. This automatically places it as a high-net-worth firm. This is backed up by the fact that the firm's entire client base is comprises high-net-worth individuals with billions of dollars under management.

The firm offers services that include investmetn management, financial planning, estate planning, retiremetn planning, tax planning, business planning and risk management. 

Rather than unilaterally build your portfolio for you, Ballentine will act as your “CIO” and offer recommendations about asset allocations, diversification and risk management for any investment style you want to apply. The final decisions associated with this will be based on your stated risk tolerance, time horizon and financial goals, though the firm does have its own investment strategies if you’re interested. The firm may invest your assets in a mix of cash, bonds, stocks, real estate funds, hedge funds, private equity funds, timber funds, energy funds and commodity funds.

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Grimes & Company is a fee-based firm that provides financial advisory services on a fee-based structure. Their clientele includes individuals, business entities, trusts, estates, and charitable organizations. The firm offers a range of services tailored to the unique financial needs of each client. The firm also provides non-investment related advice, focusing on issue spotting and referrals to unaffiliated professionals such as attorneys, CPAs, and insurance agents. Investment advisory services are customized for each client, including the development of a personalized investment strategy. 

The firm employs a diverse range of investment strategies tailored to meet various client needs and market conditions. These strategies include long-term purchases, where securities are held for over a year, and short-term purchases for assets sold within a year. Additionally, the firm engages in options trading, allowing for the buying or selling of securities at a set price within a designated timeframe. 

When crafting investment portfolios, the firm considers several key client characteristics such as investment objectives, individual circumstances, suitability, risk tolerance, liquidity needs, overall financial situation, and the preference for short-term investments. These factors help in aligning the investment strategies with the client's specific financial goals and risk profile.

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F.L. Putnam Investment Management Company is a fee-only advisory firm based in Lynnfield, Massachusetts. The firm serves individuals, families, institutions and other advisory firms. It generally requires a $750,000 minimum relationship size for discretionary investment advisory accounts combined with financial planning. The firm’s adviosrs hold professional certifications that include the CFP® and CPWA® designations.

Minimums vary for separately managed account strategies. These range from $250,000 for equity SMAs to $1 million for short-duration fixed income SMAs. The firm’s Family Office Solutions service is typically available to families with more than $25 million in investable assets. F.L. Putnam works with individuals and families, including professionals, business owners, ultra-high-net-worth families and family offices.

The firm uses a range of equity, fixed income, alternative investment and asset allocation strategies. Its equity strategies include core equity, sustainable and socially responsible equity, equity income, focused growth and artificial intelligence-focused strategies. Fixed income offerings include taxable fixed income, municipal income and short-duration bond strategies. The firm may also use mutual funds, ETFs, alternative investment funds and optimized indexing strategies.