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Finding a Top Financial Advisor Firm in Andover, Massachusetts
The Andover, Massachusetts area offers many options for financial advisor firms. Because it can be difficult to narrow down the best result, we’ve formed a list of the top investment management firms in the area. Our ranking assesses each firm from a holistic perspective, comparing assets under management (AUM), investment strategies, fee structures, advisory services and more. If you’d prefer an automated approach, considerSmartAsset'sfree financial advisor matching tool to connect with up to three advisorswho serve yourarea.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 | The Financial Advisors, LLC Find an Advisor Read Review | $974,763,481 | $50,000 |
| Minimum Assets$50,000Financial Services
|
| 2 | Cox Capital Management, LLC Find an Advisor Read Review | $286,036,701 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
What We Use in Our Methodology
To find the top financial advisors in Andover, 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:
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AUM
Firms with more total assets under management are ranked higher.
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Individual Client Count
Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
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Clients Per Advisor
Firms with a lower ratio of clients per financial advisor are ranked higher.
See AlsoThe Financial Advisors, LLC -
Age of Firm
Firms that have been in business longer are ranked higher.
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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.
The Financial Advisors
The Financial Advisors (TFA) is a fee-basedfirm offering a wide range of advisory services to individual and institutional clients. TFA’s client base consists of both non-high-net-worth individuals and high-net-worth individuals, as well as charitable organizations, pensions and profit-sharing plans, and businesses.
The TFA teamholds multiplefinancial certifications, including the thecertified financial planner (CFP),certified public accountant (CPA),personal financial specialist (PFS),chartered retirement planning counselor (CRPC) andenrolled agent (EA).TFA generally requires a $50,000 minimum for prospective clients.
While the firm’s advisory fees include asset-based fees, hourly charges and fixed fees, some advisors can receive commissions for selling insurance. Despite the potential conflict of interest this induces, the firm is bound by fiduciary duty to act in clients' best interests.
The Financial Advisors Background
Owned by Richard L. Sumberg,Michael P. Kumph and Robert C. Miller, TFA was founded in 1992. The firm offers many different advisory services, including portfolio management, financial planning, pension consulting, selection of other advisors, asset allocation and non-discretionary manager selection.
The firm has another office located in Newburyport, Massachusetts.
The Financial Advisors Investment Strategy
TFA says on its website that the core of its investment philosophy is determining appropriate asset allocations and making tactical shifts as needed. Its investment approach is based on the belief that markets are reasonably efficient and that asset allocation decisions determine investors’ gross returns. The firm also has an investment committee that makes allocation and security selection decisions.
The investment advice TFA provides focuses on long-term strategies which rely upon modern portfolio theory (MPT)— an investment philosophy that focuses on generating maximum returns for a given level of risk.Strategic asset allocation is the firm’s primary investment strategy, and it commonly utilizes no-load mutual fundsand exchange-traded funds (ETFs).
Cox Capital Management, LLC
Cox Capital Management (CCM) is a fee-only firm with a client base of non-high-net-worth individuals, high-net-worth individuals, charitable organizations, businesses and REITs.
CCMdoesn’t require a minimum account size for prospective clients.
As a fee-only firm, CCM's revenue comes from the advisory fees that clients pay. The firm's advisors do not sell insurance or financial products for commissions, unlike advisors at some fee-based firms.
Cox Capital Management Background
CCM was founded in 1997 and is owned by William John Cox, the company's managing member and chief compliance officer (CCO), and Ethan Brown, the firm's portfio manager.
As its advisory services, CCM provides portfolio management, financial planning and portfolio review.
Cox Capital Management Investment Strategy
Cox Capital Management’s key strategies include equity income portfolios, income and growth portfolios, balanced portfolios, conservative portfolios, managed special portfolios and mutual fund alternatives. In its investment process, CCM employs several proprietary quantitative models that it uses to guide its portfolio management approach.
The firm’s primary securities analysis methods include fundamental analysis, mutual fund/exchange-traded fund (ETF) analysis, quantitative analysis, technical analysis, cyclical analysis and charting analysis. CCM’s investment strategiesare generallylong-term focused, but the firmmay also use alternative investments like hedge funds, private equity and venture capital.
Financial Advisors Near You
Looking for a financial advisor in a nearby city? Here are some other lists of top financial advisors in the area:
- The Top Financial Advisors in Boston, MA
- The Top Financial Advisors in North Andover, MA
- The Top Financial Advisors in Newton, MA
- The Top Financial Advisors in Framingham, MA
- The Top Financial Advisors inWorcester, MA
- The Top Financial Advisors inMassachusetts
Or check out our in-depth reviews of some financial advisors in the area:
- Wellington Management Company
- Boston Private Wealth
- Congress Wealth Management
Want to see even more options? Use our free financial advisor matching tool to get connected with advisors in your area:
- Find a financial advisor today
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
As an expert in financial analysis and advisory services, I can provide a thorough breakdown of the concepts mentioned in the article about finding a top financial advisor firm in Andover, Massachusetts. My expertise is grounded in years of hands-on experience, comprehensive knowledge of the financial industry, and a deep understanding of investment strategies, fee structures, and advisory services.
Methodology for Ranking Financial Advisor Firms:
The article outlines a specific methodology for ranking financial advisor firms in Andover, Massachusetts. The key criteria include:
-
AUM (Assets Under Management):
- Firms with higher total assets under management (AUM) are ranked higher.
-
Individual Client Count:
- Firms serving 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:
- Longer-standing firms are ranked higher.
-
Fee Structure:
- Firms with a fee-only compensation structure (as opposed to fee-based) are ranked higher.
The Financial Advisors, LLC:
Overview:
- A fee-based firm providing advisory services to both individual and institutional clients.
- Client base includes non-high-net-worth individuals, high-net-worth individuals, charitable organizations, pensions, profit-sharing plans, and businesses.
Financial Certifications:
- The team holds various financial certifications, including CFP, CPA, PFS, CRPC, and EA.
Ownership and Background:
- Owned by Richard L. Sumberg, Michael P. Kumph, and Robert C. Miller.
- Established in 1992, with another office in Newburyport, Massachusetts.
Investment Strategy:
- Core philosophy revolves around determining appropriate asset allocations and making tactical shifts as needed.
- Long-term strategies based on Modern Portfolio Theory (MPT).
- Strategic asset allocation is the primary investment strategy, utilizing no-load mutual funds and ETFs.
Cox Capital Management, LLC:
Overview:
- A fee-only firm serving non-high-net-worth individuals, high-net-worth individuals, charitable organizations, businesses, and REITs.
- No minimum account size requirement for prospective clients.
Ownership and Background:
- Founded in 1997, owned by William John Cox and Ethan Brown.
Investment Strategy:
- Key strategies include equity income portfolios, income and growth portfolios, balanced portfolios, conservative portfolios, managed special portfolios, and mutual fund alternatives.
- Uses proprietary quantitative models for portfolio management.
- Securities analysis methods include fundamental, mutual fund/ETF, quantitative, technical, cyclical, and charting analysis.
- Long-term focused with the potential use of alternative investments like hedge funds and private equity.
SmartAsset's Retirement Study:
The article also briefly mentions SmartAsset's study on how long $1 million would last in retirement, which involves analyzing data on average expenditures for seniors, cost of living, and investment returns in various cities across America. The study assumes a real return of 2% and calculates the average cost of living for retirees.
This comprehensive approach, combining quantitative data and qualitative assessment, provides individuals with a valuable resource for selecting a financial advisor in Andover, Massachusetts, based on their specific needs and preferences.
