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Top Financial Advisors in Worcester, MA

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SmartAsset.com maintains strict editorial integrity. This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, in which SmartAsset is compensated for lead referrals, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding a Top Financial Advisor Firm in Worcester, Massachusetts

Finding a financial advisor who is well-suited to your specific needs can be a challenge. SmartAsset’s research-backed assessment of the top firm in Worcester, Massachusetts can make your search easier. We took a deep dive into the investment strategy, account minimum and fee structure of each firm. Additionally, SmartAsset offers a free financial advisor matching tool that will pair you with advisors who serve your area.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Carr Financial Group Carr Financial Group logo Find an Advisor

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$648,435,946 None
  • Financial Planning
  • Wealth Management
  • Retirement Plan Services
  • Family Office Services

Minimum Assets

None

Financial Services

  • Financial Planning
  • Wealth Management
  • Retirement Plan Services
  • Family Office Services
2 Carl P. Sherr & Co., LLC Carl P. Sherr & Co., LLC logo Find an Advisor

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$339,913,005 $500,000
  • Financial planning
  • Portfolio management

Minimum Assets

$500,000

Financial Services

  • Financial planning
  • Portfolio management
3 Cutler Capital Management, LLC Cutler Capital Management, LLC logo Find an Advisor

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$315,574,322 $1,000,000
  • Financial planning
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning
  • Portfolio management

What We Use in Our Methodology

To find the top financial advisors in Worcester, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.

Carr Financial Group

Carr Financial Group Corporation is a registered investment advisor headquartered in Worcester, Massachusetts. The firm serves a wide range of clients, including individuals, high-net-worth individuals, families, trusts, estates, charitable organizations, corporations and pension or profit-sharing plans. Its services extend beyond investment management to include financial planning, retirement plan consulting and family office services.

There is no minimum account size required to become a client of Carr Financial Group, making its services accessible to investors at varying stages of wealth. The firm manages both discretionary and non-discretionary accounts and provides advice tailored to each client’s goals, time horizon, risk tolerance and financial circumstances.

The Carr Financial Group team holds professional credentials such as Certified Financial Planner™ (CFP®), chartered financial consultant® (ChFC®) and chartered retirement planning counselor (CRPC), among others. Several advisors are also licensed insurance agents and may earn commissions on insurance products, such as annuities or life insurance, in addition to charging asset-based advisory fees. While this could create a conflict of interest, as a fiduciary, Carr Financial Group is obligated to put clients’ best interests first. 

The firm employs multiple methods of analysis including fundamental, technical, cyclical and behavioral finance, and relies on modern portfolio theory in constructing portfolios. Client accounts are typically diversified through mutual funds, exchange-traded funds (ETFs), equities, bonds and alternative investments, with allocations tailored to individual needs.

Carl P. Sherr & Co.

Carl P. Sherr & Co. serves a wide range of clients, including individuals, businesses and charitable organizations. As far as individual accounts, the firm serves both non-high-net-worth individuals and high-net-worth individuals. 

To open an account with this firm for investment supervisory services, you must have a minimum of $500,000. This is a fee-only firm, as none of its advisors earn commissions for selling third-party products. 

The team includes those with the Certified Financial Planner™ (CFP®) designation.  

Understanding your individual needs is the first step that Carl P. Sherr & Co. takes toward building your wealth management plan. This is done in two phases: an exploration meeting and a questionnaire. Your initial meeting with an advisor, which is free, is meant to give the firm a broad overview of what you want your investment account to eventually accomplish for you. Meanwhile, the questionnaire is much more detailed and it gives the firm a chance to understand your specific time horizon and risk tolerance.

As soon as this information is gathered, the firm will build a diversified portfolio for you and your family based on various securities, annuities and mutual funds. Then the plan is officially put into action with the possible help of any relevant professionals, like your accountant or lawyer.

But even with your plan in place, the process isn’t over. In fact, the firm recommends that you schedule reviews and check-in meetings as often as you’d like to make sure your portfolio is still where you want it to be. If it isn’t, your account will be rebalanced or changes can be made on a larger scale to better accommodate your new financial desires.

Cutler Capital Management

Cutler Capital Management primarily works with high-net-worth individuals, which isn't surprising given that the firm has a $1 million minimum account size requirement. Other clients include non-high-net-worth individuals, pooled investment vehicles, pensions, profit sharing plans, charities and businesses.

Cutler is a fee-only firm, as it does not earn commissions from any third parties. Instead, it receives advisory fees directly from clients as its form of compensation.

The team includes a chartered financial analyst (CFA). 

This firm provides investment management services on a discretionary basis to separately managed accounts (SMAs) and private investment funds. It also offers financial planning services.

Like other firms, Cutler Capital Management tailors its investment strategies to the individual needs of its clients. Advisors take note of each client's risk tolerance, investing timeline and overall financial goals.

When it comes to specific investments, Cutler specializes in convertible securities, community banks and real estate investment trusts (REITs). Advisors look to diversify portfolios and buy investments with the potential for long-term growth and current income. The firm employs both fundamental and technical analysis

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research