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 Investment Management Background

The firm was founded in 1974 by Harold Kotler, a chartered financial analyst (CFA), when he was 29 years old. Kotler is the chairman, chief investment officer and CEO, while Tom F.X. Powers and T. William Roberts III are co-CEOs and firm partners.

The firm's institutional partner, Affiliated Managers Group, Inc., a publicly traded global asset management company, holds a majority equity interest in GW&K. GW&K operates independently and autonomously, and its partners hold the balance of the equity interest in the firm.

GW&K Investment Management Investment Philosophy

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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Integrated Wealth Concepts offers financial advisory services on a discretionary basis through a network of investment advisor representatives. As a fee-based firm, some advisors may receive revenue from third parties for the sale of insurance products, like annuities. 

Asset-based investment advisory fees are charged at an annual rate ranging from 0.50% to 2.25% depending on several factors, including the overall the size of the relationship, the inclusion/exclusion of transaction fees and the complexity of the services to be provided.

Integrated does business as Integrated Partners, Integrated Financial Partners and Integrated Family Office, among other d/b/a names. 

Integrated Wealth Concepts Background

The firm is owned and operated by Paul Saganey and John G. Cataldo, who is president and chief compliance officer. Professional designations represented on the staff include chartered financial analyst (CFA), certified public accountant (CPA), chartered retirement planning counselor (CRPC), certified investment management analyst (CIMA), certified fund specialist (CFS), certified exit planning advisor (CEPA) and certified financial planner (CFP).

For some clients Integrated recommends that all or a portion of a client’s portfolio be implemented by utilizing one or more unaffiliated money managers or investment platforms, also known as third-party asset managers.

Integrated Wealth Concepts Investment Strategy

The firm uses a range of analytical tools to find the most appropriate securities for its clients: charting, fundamental, tactical, cyclical, quantitative and qualitative.

Once Integrated has identified suitable opportunities for a client it utilizes various strategies for the client's portfolio, including long-term purchases, short-term purchases, trading, margin transactions, option writing (including covered options, uncovered options or spreading strategies) and tax abatement initiatives.

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The No. 1 firm on this list is SCS Capital Management, an extremely large advisory practice based in Boston. SCS also holds the No. 1 spot on SmartAsset's list of the top financial advisors 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.

The team at SCS includes at least three chartered financial analysts (CFAs).

SCS Capital Management Background

SCS Capital Management was founded in 2002. It is owned by Focus Operating, LLC, which is owned by Focus Financial Partners, LLC.  The parent company is a publicly traded company. SCS is managed by Partners Perpetual Trust, LLC via an agreement between the firms.

The firm’s services include:

• Strategic financial planning
• Asset allocation
• Public equity and bond manager selection
• Alternative manager selection (private equity and debt, venture capital, real estate, hedge funds)
• Portfolio construction
• Risk management
• Asset protection and insurance
• Family office and wealth/investment education
• Strategic trust and estate planning
• Strategic income tax planning
• Philanthropic strategies

SCS Capital Management Investment Strategy

At SCS, investment strategies are made for each client in a way that makes sense for their situation, taking into considering 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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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.

The advisory team at this fee-only firm features nine advisors with the chartered financial analyst (CFA) certification. Loring, Wolcott & Coolidge was also holds a spot on SmartAsset’s list of the top financial advisor firms in Boston.

Loring, Wolcott & Coolidge Fiduciary Advisors Background

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.

Loring, Wolcott & Coolidge Fiduciary Advisors Investment Strategy

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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Fee-only Ballentine Partners is the top-ranked financial advisor in Waltham, Massachusetts, and one of the highest-rated practices in the state. 

What will likely immediately jump out to you about this firm 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 firm's entire client base is comprises high-net-worth individuals with billions of dollars under management.

The sizable group of advisors at this firm combines for a large number of certifications: 32 certified financial planners (CFPs), 16 chartered financial analysts (CFAs), five chartered alternative investment analysts (CAIAs), one certified private wealth advisor (CPWA), three certified public accountants (CPAs), four chartered advisors in philanthropy (CAPs), one chartered financial counselor (ChFC) and one chartered retirement planning counselor (CRPC).

Ballentine Partners Background

While it was founded in 2010, Ballentine Partners can trace its roots back to 1984 when Roy Ballentine founded Ballentine & Company, Inc. Ballentine Partners became 100% owned and controlled by its senior employees or trusts created by those employees, either through direct ownership or indirect ownership through Ballentine & Company, LLC. In 2022, the firm intends privately sell about 30% of equity to clients. 

Ballentine’s services include:

• Investment management
• Financial planning
• Estate planning
• Retirement planning
• Tax planning
• Business planning
• Risk planning/management

Ballentine Partners Investment Strategy

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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Fiduciary Trust International (FTI), which was previously known as Athena Capital Advisors, has only a few dozen individual clients, all of whom unsurprisingly have a high net worth. While it technically doesn’t have a set account minimum, the firm is extremely exclusive and charges a minimum annual fee of $150,000 for discretionary portfolio management services. Charitable organizations, estates, trusts, families and corporations will also find services at this Lincoln-based, fee-only firm.

FTI is part of Franklin Templeton, which is one of the largest investment companies in the world. In addition to his headquarters in Lincoln, FTI operates secondary offices throughout the U.S., as well as Grand Cayman. 

Fiduciary Trust International Background

Lisette Cooper formed Athena Capital Advisors in 1993. However, in June of 2020, the firm was acquired by Fiduciary Trust Company International, which is a wholly owned subsidiary of Franklin Templeton. Cooper still works at FTI, serving as vice chair.

Being that this firm deals almost exclusively with ultra-high-net-worth individuals and their families, its services are extremely customizable. However, the firm still does feature some anchors like estate planning, charitable giving planning, distribution planning and other financial management services.

Fiduciary Trust International Investment Strategy

FTI structures all of its portfolios on the endowment model, which incorporates diversification to attempt to choose a wide range of unrelated investments. In the end, the goal is to achieve “strong and sustainable risk-adjusted returns” over the course of the long-term.

While this might come off as easier said than done, the firm uses a few strategies to try and ensure that the above ideology is realized. These include diversifying not only across markets, but also managers, using both future and historical investment reports and minimizing trading and tax costs.

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Headquartered in Boston, The Bollard Group is an extremely exclusive financial advisory firm that bases its entire business around high-net-worth individual clients. In fact, despite having billions of dollars in assets under management, the firm only works with about a dozen high-net-worth clients. Other than these accounts, the firm also manages a collection of pooled investment vehicles.

As fee-only firm, all of The Bollard Group's compensation comes from client-paid fees. 

While the firm may make exceptions to this rule, new clients of The Bollard Group are generally required to have at least $25 million in investable assets. Under certain circumstances, though, the firm may waive this requirement.

The Bollard Group Background

The Bollard Group was established in 1995. Today, the firm is owned by members of its senior management team, with principal Anastasios Parafestas owning the largest share.

In addition to its family office, The Bollard Group owns Spinnaker Capital, LLC. Spinnaker Capital is a set of funds that The Bollard Group manages.

The firm provides both discretionary and non-discretionary investment management, as well as multiple types of financial planning. These can include estate planning, income tax advising, tax return preparation, bookkeeping, wealth management, accounting and more.

The Bollard Group Investment Philosophy

Prior to making any investment decisions, The Bollard Group will take into account each client's risk tolerance, time horizon, investment goals, income needs and more. This is done to ensure that their portfolio's composition falls in line with their personal needs.

The firm will then recommend a specific investment strategy, including active management of U.S. and global equity and fixed income securities, options and futures, ETFs, concentrated holdings and hedging as well as management of liquid cash balances. The Bollard Group may use leverage, short sales, margin and other trading strategies based on the client’s financial condition and tolerance for risk. 

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Adviser Investments in Newton, Massachusetts, is a large, fee-only firm that works primarily with individual clients, both above and below the high-net-worth threshold. The firm also serves pension and profit-sharing plans, charitable organizations, government entities and corporations. 

Advisor Investments, which is also the top-rated firm in Newton, requires a minimum relationship size of $350,000, although certain strategies have their own minimum initial account requirements. For example, only $100,000 is required for accounts that use mutual funds, exchange-traded funds and individual equities. For accounts that invest in individual bonds, you'll need at least $500,000.

As a fee-only firm, Adviser Investments' revenue comes solely from the fees that advisory clients pay. The firm's advisors do not collect commissions from third-parties for selling securities or insurance products. The firm charges an asset-based fee ranging from 0.40% to 1.50% of assets under management for investment management. Fees for other services may be determined on a case by case basis. 

Members of the Adviser Investments team have a number of financial certifications, including the certified financial planner (CFP), chartered financial analyst (CFA), certified divorce financial analyst (CDFA) and chartered financial consultant (ChFC) designations.

Adviser Investments Background

Adviser Investments was founded in 1994 by former investigative reporter Dan Wiener, David Thorne and Dan Silver. Wiener, who remains the firm's chairman, previously published an independent newsletter on Vanguard funds but sold the venture to start Adviser Investments with Thorne and Silver. 

Today, the firm offers the following services:

• Portfolio management
• Financial planning
• Tax planning
• 401(k) advisory services
• Managed bond program. 

Adviser Investments Investment Strategy

Adviser Investments has a range of investment strategies available for client. Advisors utilize both fundamental and technical analysis when selecting securities, depending on the strategy being implemented. The firm cam invest client assets in exchange-traded funds, mutual funds, dividend income assets and managed bonds.

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Welch & Forbes is a Boston-based, fee-only financial advisor firm with billions of dollars in assets under management. The firm's team of advisors includes seven chartered financial analysts (CFAs), two certified financial planners (CFPs) and two certified public accountants (CPAs). A minimum account size of $2 million is required of clients, although the firm reserves the right to waive that minimum.

Welch and Forbes advises both non-high-net-worth and high-net-worth individuals. It also boasts a sizeable institutional business, advising pension and profit-sharing plans, charitable organizations, other investment advisers and corporations.

Investment advisory fees paid to Welch & Forbes are based on a percentage of assets under management. Advisors are not registered with a broker-dealer and do not make commissions for selling clients securities or insurance products.

Welch & Forbes Background

Welch & Forbes has deep roots, as the company was founded before the American Civil War, in 1838. The majority of the firm is owned by Affiliated Managers Group, Inc. Employees of the firm own the rest of the equity. 

Services offered by the firm include:

• Investment advisory
• Trust services
• Fiduciary services
• Philanthropic services
• Estate administration
• Tax services
• Cash flow analysis

Welch & Forbes Investment Strategy

Portfolio managers at Welch & Forbes determine a unique client asset allocations based on the client’s long-term investment objectives. A number of portfolio styles are available to clients at Welch & Forbes. They include:

• Multi-cap core equity, with both domestic and international stocks
• Specialty, with a sector or style chosen by the client
• Open architecture, focused on mutual funds and exchange-traded funds (ETFs)
• Income, with fixed-income securities focusing on either income or total return
• Alternative investments, focusing on things like venture capital, private equity, hedge funds or real estate

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Ropes Wealth Advisors, LLC serves both high-net-worth individuals and non-high-net-worth clients, as well as pension and profit sharing plans, charitable organizations and businesses.

The fee-only firm does not have a set account minimum. 

Ropes Wealth Advisors, LLC Background

Ropes Wealth Advisors was formed in 2013. The firm is a wholly owned subsidiary of the global law firm Ropes & Gray LLP.

Ropes Wealth Advisors takes an integrated approach to wealth management, as the firm says it believes that "each area of your financial life is part of a larger whole." The firm's financial planning services encompass cash flow and budgeting analysis; retirement planning; advice on corporate benefits programs; insurance analysis and advice; education planning and funding and family and charitable gift planning. The firm will also assist with things like mortgage refinancing and long-term care planning. Ropes will also work in coordination with clients' legal and tax advisors.

Ropes Wealth Advisors, LLC Investing Strategy

Ropes Wealth Advisors’ takes a three-step approach to investing. First, the firm talks to clients understand their objectives, values and preferences. This information allows the firm to help clients select a long-term strategy and asset allocation, and to develop a customized investment plan.

Ropes Wealth Advisors believes that balance and diversification are key to consist returns. Once the building phase is complete, the firm helps its clients select fixed income, equity and alternative investments. The firm picks investments based on fundamental analysis and uses both active and index investing styles.

The final phase of the three-part process is to preserve. Ropes' investing philosophy rests on risk management and disciplined long-term investing and aims to minimize taxes and keep investment plans on track no matter the market conditions. Ropes routinely reviews and rebalances client portfolios to ensure they stay aligned with the agreed-upon objectives.