Top Financial Advisors in Westborough, MA

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Grimes & Company, the No. 1 firm in Westborough, Massachusetts, is by far the largest firm on our list in terms of assets under management and advisor count. The firm’s advisory team includes certified financial planners (CFPs), chartered financial analysts (CFAs), accredited investment fiduciaries (AIFs) and more.

Most of the firm's clients are individuals without a high net worth. The firm also works with high-net-worth individuals, pensions and profit sharing plans, charitable organizations, government entities, other investment advisors and corporations. The firm typically calls for at least $500,000 in investable assets in order to become a client, though it may choose to waive this requirement.

Grimes & Company is a fee-based firm, which means that some of its advisors may earn commissions through the sale of certain insurance products or securities. This presents a potential conflict of interest, as these advisors have an incentive to recommend these insurance products. However, the firm still has a fiduciary duty to always act in clients' best interests.

The firm charges asset-based fees for investment management. These fees, which are charged quarterly in arrears, are based on a percentage of the client's assets under management. 

Grimes & Company Background

Grimes & Company first opened for business in 1999 and registered as an investment advisor with the SEC the following year. The firm is a family business, and is under the principal ownership of president and chief investment officer (CIO) Kevin T. Grimes, founder and chairman Timothy J. Grimes and the Timothy J. Grimes Dynasty Trust.

Investment management is the flagship offering at Grimes & Company. The firm’s advisors work with each client individually to develop a tailored investment strategy, and thus a custom portfolio. Additionally, the firm may provide its investment management clients with financial planning and general consulting upon request. This can touch on matters like tax planning, estate planning and retirement planning, among others.

Grimes & Company Investment Philosophy

When formulating its investment recommendations, Grimes & Company employs two primary methods of analysis: fundamental and technical. Fundamental analysis is the practice of examining a company or fund’s key financial documents alongside the broader economy as a means of determining the company or fund’s intrinsic value. From there, the firm can attempt to gauge if the company or fund is currently being undervalued by the market. Technical analysis involves analyzing historical price and volume data in order to illuminate any trends that might help forecast future price movement. 

Next on the list is AAF Wealth Management. The firm’s clients include individuals both with and without a high net worth, pension plans, charitable organizations and businesses.

Some of the firm's advisors are certified financial planners (CFPs). Other certifications include accredited investment fiduciary (AIF) and chartered life underwriter (CLU). Generally speaking, there is $100,000 minimum investment needed to become a client at AAF. However, the firm may be willing to waive this requirement.

AAF Wealth Management is a fee-based firm, as certain advisors can earn commissions for selling insurance products. This is in contrast to a fee-only firm, in which all revenue comes from the advisory fees that clients pay. While this fee-based structure leads to a potential conflict of interest, the firm has a fiduciary duty to act in its clients’ best interests.

AAF Wealth Management Background

AAF Wealth Management was established in 2001 and became a registered investment advisor (RIA) in 2012. The firm, which was previously known as AAFCPAs Wealth Management, is owned by a related corporate entity called AAFCPAs, Inc.

Asset management, financial planning and consulting are the primary service offerings at the firm. The firm also provides consulting services to pensions and other retirement plans.

AAF Wealth Management Investment Strategy

AAF Wealth Management prioritizes asset allocation over individual security selection when it comes to constructing investment portfolios for clients. The firm believes that striking the right balance between asset classes like equities, fixed-income and cash has a more significant impact on long-term growth potential than which specific securities are included.

The firm also subscribes to modern portfolio theory (MPT), which starts with the assumption that, among portfolios with the same expected return, reasonable investors will choose the one with the lowest risk. The firm puts this practice into effect by constructing a portfolio with the highest potential return for a client’s given level of risk tolerance.

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The vast majority of Cadence Wealth Management clients are non-high-net-worth individuals. However, the firm also works with a smaller number of individuals above the high-net-worth threshold. The firm generally requires new clients to have at least $250,000 in investable assets.

The firm employs a handful of certified financial planners (CFPs), chartered retirement planning counselors (CRPCs) and chartered financial consultants (ChFCs). In addition, it also has one certified fund specialist (CFS) and one accredited wealth management advisor (AWMA).

Cadence is a fee-based firm, which means that some of its advisors may earn income from sources other than the fees you pay, including insurance and securities commissions. While this represents a potential conflict of interest, it doesn’t change the firm’s fiduciary duty to always act in their clients' best interests.

Cadence Wealth Management Background

Cadence Wealth Management opened up shop in 2010. Today, it is owned by Casey D. Clarke and Thomas G. Shiffer.

Cadence provides a number of services to its clients, such as investment management, financial planning and consulting. The firm may decide to allocate a portion of your assets to an independent money manager as well. Cadence’s financial planning services touch on subjects like investment planning, retirement planning, tax planning, insurance planning, estate planning and business planning.

Cadence Wealth Management Investment Philosophy

Cadence Wealth Management structures its investment strategy around the idea that markets are efficient over the long term. With this idea at its foundation, the firm seeks to come up with an asset allocation that maximizes the potential for long-term growth, while still adhering to the client’s given risk tolerance. Other factors that are included in this process are your time horizon and liquidity needs.

The firm typically constructs each portfolio with a combination of equities, fixed-income securities and cash investments. The firm does this indirectly - through a mix of mutual funds and exchange-traded funds (ETFs) - and directly, via individual securities and bonds.

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The fourth firm in our roundup is Finivi, a fee-based practice that serves both high-net-worth and non-high-net-worth individuals. Across its staff of advisors, there are several chartered financial consultants (ChFCs), in addition to one chartered advisor for senior living (CASL) and one certified divorce financial analyst (CDFA). There’s no minimum account size needed to open an account with the firm, though it typically works with people who have at least $50,000 in investable assets.

As fee-based firm, which means some advisors may earn commissions from selling insurance products. This differentiates it from a fee-only firm, which earns revenue purely from advisory fees. While this may represent a potential conflict of interest, keep in mind that Finivi is a fiduciary and must always act in the best interest of its clients.

Finivi Background

Finivi is one of the youngest firms on this list, having first opened its doors in 2018. It’s principally owned by two individuals: founder, president and chief investment officer (CIO) Eric C. Jansen and lead financial advisor Steven C. Johnson.

Service offerings at Finivi include financial planning, wealth management and consulting for retirement plans. Financial planning at the firm can encompass a wide variety of topics, including business planning, cash flow forecasting, trust and estate planning, college savings, employee benefits optimization, financial goal setting, insurance planning, retirement planning, risk management, distribution planning, tax planning and bitcoin and digital currency consulting. As part of its wealth management services, Finivi may decide to allocate a portion of a client’s assets to the management of an independent money manager.

Finivi Investment Strategy

In general, Finivi acts as an active money manager. This means that it doesn't necessarily rely on the principle of efficient markets, but instead employs research and analysis to identify securities that aren't properly valued. Additionally, the firm may use strategic or tactical asset allocation in its management of client portfolios. Strategic asset allocation is the practice of using a client’s investment goals and risk tolerance to inform the combination of asset classes that make up the client’s portfolio.

When building portfolios, the firm primarily invests in a mix of common stocks, fixed-income securities and - if it needs to gain broader sector exposure - mutual funds, exchange-traded funds (ETFs) and real-estate investment trusts (REITs).

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Factor Investing Group, the fifth and final firm on our list, is a fee-based practice that primarily works with individuals and high-net-worth individuals. The firm also serves retirement plans, charitable organizations and corporations. There is no minimum account size requirement for clients. 

Factor Investing Group charges asset-based fees for wealth management services. However, the firm's advisors are also licensed to sell insurance on a commission basis. This creates a conflict of interest, as advisors have a financial incentive to recommend certain products over others. However, the firm is a fiduciary and must always act in its advisory clients' best interests. 

There are no financial certifications like certified financial advisor (CFP) listed on Factor Investing Group's website. 

Factor Investing Group Background

Founded in 2009, Factor Investing Group became a registered investment advisor in July 2021. The firm, whose full legal name is Melfa Wealth Management, Inc., is owned by president and chief compliance officer Victor J. Melfa Jr.

Factor Investing Group specializes in wealth management, which combines investment management with financial planning. The firm may also provide investment advice to clients regarding their retirement accounts. 

Factor Investing Group Investment Strategy

Like most firms, Factor Investing Group works closely with its clients to identify their investment goals, objectives, risk tolerance and financial situation in order to design a portfolio strategy. The firm then builds portfolios using ETFs and/or mutual funds, as well as individual stocks, bonds, other types of investments. 

Factor Investing Group typically employs long-term investment strategies but may buy, sell or reallocate positions that have been held for under a year to meet a client's objectives or respond to market conditions. When selecting investments, the firm uses both fundamental and technical methods of analysis. While the former uses economic and business indicators to assess the value of a company, the latter relies on past market data and patterns to inform investment advice.