Top Financial Advisors in Rhode Island

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WealthCare Investment Partners, a Portsmouth-based financial advisor firm, is next on our list of the top practices in Rhode Island. The firm heavily works with non-high-net-worth individuals, though its client base also consists of high-net-worth individuals, retirement plans, charitable organizations and businesses.

In order to work with an advisor here, you'll generally need $250,000 in investable assets, though this minimum is waivable. The firm's advisory staff includes some accredited investment fiduciaries (AIFs) and certified plan fiduciary advisors (CPFA). Wealth management services are the hallmark offering of WealthCare. This service encompasses both investment management and financial planning.

WealthCare Investment Partners invests client assets in a customized manner, meaning it uses your investor profile to dictate how your portfolio is managed. This involves doing a deep dive into what kind of investor you are, determining things like your risk tolerance, time horizon, income needs and financial goals. Once the firm feels comfortable that it knows you and your goals and needs, it will select a model portfolio that fits you.

In many cases, the firm's investments revolve around mutual funds, ETFs and individual stocks. Bonds may be used sparingly to provide long-term growth and income.

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Founded in 1975, Professional Planning Group (PPG) in Westerly is the oldest practice on this list. Unlike the firms above it, PPG operates on a fee-based compensation model that allows employees to earn commissions or additional compensation for selling securities and/or insurance. This constitutes a potential conflict of interest because advisors have a financial incentive to make certain recommendations. However, the firm has a fiduciary duty to disclose these conflicts and always work in your best interests. 

Certifications earned on the team include the Certified Financial Planner™ (CFP®), certified public accountant (CPA), chartered investment management analyst (CIMA) and Chartered Financial Analyst (CFA) designations.

The firm has far more non-high-net-worth clients than high-net-worth ones. PPG also serves trusts, estates and charitable organizations. The minimum required for investment advisory accounts is $500,000.

The firm offers discretionary and non-discretionary portfolio management, wrap-fee investment programs and financial planning services. Its planning process may address cash management, insurance, education funding, retirement planning, estate and charitable giving, tax considerations and other areas tied to clients’ financial goals. It also provides access to trust services through Raymond James Trust and conducts educational workshops and seminars. 

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Parsons Capital Management (PCM), a fee-only advisory practice in Providence, leads off our list of the top advisors in Rhode Island. With over $2 billion in assets under management (AUM), PCM manages more money than any other firm on this list. 

Members of the PCM team hold a variety of financial certifications, including the Chartered Financial Analyst (CFA), Certified Financial Planner™ (CFP®) and investment advisor certified compliance professional (IACCP) designations. 

Founded in 1993, the firm mostly serves individuals and high-net-worth individuals, though it doesn't have a minimum account size. PCM also works with retirement plans, charities and businesses. In addition to investment management, the firm offers financial planning, estate planning, help with tax issues and consulting services related to portfolio and security analysis.

PCM creates portfolios that allocate across asset classes, including equities, bonds, cash equivalents, and, when suitable, alternative investments. The firm then manages these allocations by keeping them within defined target ranges. When selecting stocks, the firm says it focuses “on the long term and blends earnings-driven growth forecasts with quantitative value screens from a broad universe of large-, mid- and small-capitalization stocks, both domestic and international.” All managers are involved in the investment process.

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Richard C. Young & Co. is a fee-only firm based in Newport. The firm has a $500,000 minimum investment requirement, though this is negotiable. The firm's advisor team works with individuals, more of whom are high-net-worth than not, plus institutional clients like retirement plans and corporations.

Services include ongoing investment supervisory through structured programs that balance income needs, capital preservation, and long-term growth, along with customized options. These programs vary in their allocations to fixed income and equity securities depending on client goals and risk tolerance. 

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Capital Wealth Management is a financial advisor firm based in West Warwick. Its team comprises advisors who hold the accredited investment fiduciary (AIF), chartered life underwriter (CLU), Certified Financial Planners™ (CFP®), chartered financial consultant (ChFCs), Chartered Financial Analyst (CFA), registered financial consultant (RFC) and licensed international financial analyst (LIFA). This is one of the largest sets of certifications on this list.

High-net-worth individuals make up the majority of the firm's client base, followed by individuals below the high-net-worth threshold and retirement plans. The minimum investment for new clients is $750,000, though that requirement is negotiable. The practice offers a range of financial services, including investment management, personal wealth management, financial planning, 401(k) planning and retirement planning.

Capital Wealth Management’s investment philosophy is grounded in fundamental analysis, which seeks to measure the intrinsic value of securities based on economic, industry and company-specific factors. The firm tailors strategies to each client’s objectives and risk tolerance, documented in an investment policy statement.

Portfolios may include equities, bonds, ETFs, mutual funds, private placements, REITs, and alternative investments. The firm's approach balances diversification with client-specific needs, using long-term and short-term holdings as well as trading when appropriate.

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StrategicPoint Investment Advisors, founded in 1992, is a fee-based advisor located in Providence. The firm works with individuals, high-net-worth individuals and retirement plan sponsors. Clients generally need a minimum of $250,000 in assets under management, though this requirement may be waived at the firm’s discretion.

StrategicPoint provides discretionary investment management, financial planning and consulting. Its planning services address retirement projections, insurance reviews, college funding, and risk assessments. It also serves employer-sponsored retirement plans, offering both fiduciary and non-fiduciary support. Advisors may also recommend third-party managers or cash management services through unaffiliated providers.

However, as a fee-based firm, certain advisors at StrategicPoint may receive commissions for insurance sales. Despite the potential conflict of interest this creates, the firm abides by fiduciary duty, legally binding it to act in clients' best interests at all times.

StrategicPoint employs a tactical asset allocation approach, using macroeconomic analysis and sector trends to adjust portfolios. Its portfolios are designed around strategies ranging from capital preservation to aggressive growth, including sustainable investing options that incorporate ESG factors.

Portfolios may include mutual funds, ETFs, individual securities, fixed income, commodities, alternatives and cash. The firm emphasizes diversification and ongoing monitoring, rebalancing as needed to align with clients’ stated goals.

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Forbes Financial Planning is a fee-based financial advisor firm based in East Greenwich. The firm works with individuals, high-net-worth individuals, trusts, estates and qualified retirement plan sponsors. It manages $240.5 million in discretionary client assets and has one advisor on staff.

The firm does not impose a set account minimum for its financial planning or investment management services. Specific professional certifications for the firm’s advisor are not listed in the available firm data. Certain advisors at Forbes Financial Planning may earn commissions from the sale of insurance products or other financial products to clients through an affiliated insurance agency. This represents a potential conflict of interest, though the firm's fiduciary duty means it legally must act in clients' best interests no matter what.

Forbes Financial Planning offers comprehensive financial planning, discretionary investment management, held-away account management and pension consulting for qualified retirement plans. Its planning services may address budgeting, retirement and education savings, tax liability considerations and family protection planning.

The firm generally builds portfolios based on each client’s goals, risk tolerance and financial circumstances. Portfolios typically use no-load mutual funds and ETFs, though they may also include equity securities, fixed income securities, CDs and managed variable annuities.

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Axis Wealth Partners is a fee-based financial advisor firm based in East Providence. Founded in 2013, the firm is independently owned and operated. The firm primarily serves individuals and high-net-worth individuals, though it also works with families, small business owners, pension and profit-sharing plans, corporations and other businesses. 

The firm offers investment management, financial planning, pension consulting, business consulting and individual plan participant consulting. Its financial planning services may address cash flow and debt management, college savings, estate planning, insurance review, investment analysis, retirement planning and tax planning strategies.

Axis primarily uses passive investment management, building portfolios from distinct asset classes that are weighted for desired risk, return and correlation characteristics. The firm typically uses index mutual funds and ETFs, while portfolios may also include equities, bonds, fixed income, REITs, government securities, municipal bonds, corporate bonds, CDs, insurance products and options when suitable.

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Newman Dignan & Sheerar, Inc. is a fee-only firm that caters to a diverse range of clients including individuals, high-net-worth individuals, pension and profit-sharing plans, business entities, trusts, estates and charitable organizations. While the firm generally prefers clients with at least $500,000 in assets designated for management, they may consider clients with lower assets at their discretion.

This Providence-based firm offers a range of services, including investment advice, financial planning and consulting services, retirement plan consulting services, participant education for retirement plan accounts, recommendation of other professionals for non-investment implementation purposes and allocation and recommendation of investment assets.

Established in 1992, Newman Dignan & Sheerar customizes investment portfolios based on client objectives. Portfolios typically include individual equities, fixed income securities, mutual funds and ETFs. The firm also uses Dimensional Fund Advisors (DFA) funds, private investment funds, structured notes, interval funds and exchange-traded notes when suitable.

Its investment approach employs fundamental, technical and cyclical analysis, with strategies ranging from long-term purchases to short-term trading, as well as the selective use of options and margin strategies at a client’s request. Portfolios may also be allocated according to predefined asset allocation models that range from conservative to aggressive growth.

Sowa Financial Group is a fee-based financial advisor firm based in Lincoln, Rhode Island. Founded in 2000, the firm provides investment advisory and financial planning services to individuals, high-net-worth individuals, trusts, estates, charitable organizations, businesses and retirement plan clients.

Clients generally need a minimum initial portfolio value of $250,000 for investment advisory services. Household accounts may be combined to meet this minimum, and the firm may waive the requirement at its discretion. Financial planning services do not have a stated asset minimum.

The firm offers discretionary investment advisory services, financial planning, financial plan reviews, retirement plan consulting, plan participant consulting and IRA rollover consulting. Clients may also have access to the Commonwealth PPS Select Account Program.

Sowa Financial Group uses both long-term and short-term purchases of securities. Its investment process may include fundamental and technical analysis, review of economic and market conditions, portfolio performance evaluation and adjustments based on a client’s objectives, risk tolerance and changing financial circumstances.