Wealth Management Guide  ·  New England Edition  ·  2026

Who Are the Top 15 Wealth Management Firms in New England?
Best Independent RIAs for High Net Worth Investors, 2026

6,700+RIAs tracked by Advisor Facts
$58T+Assets under management
15Firms independently reviewed
SECADV filings - primary data source
14 min read Updated April 2026 Fee data from SEC ADV regulatory filings
Does one of these sound like your situation?
Business Sale
"I just sold my company for $8 million. I've never had this much liquidity before and I don't know where to start."
Personal CFO
"I want a financial advisor who acts as my personal CFO - coordinating my investments, taxes, and estate in one place."
Fee Frustration
"I'm paying 1.2% annually and I'm not sure I'm getting the value. What are other private wealth firms actually charging?"
Advisor Transition
"My financial advisor of 20 years is retiring. I need to find someone I can trust with the same level of care."
Business Owner
"I own a business worth several million dollars. I need someone who understands business-owner wealth management - not just market returns."
Second Opinion
"I haven't benchmarked my wealth management relationship in years. I want to know if my fees are competitive against other firms."

If any of those feel familiar, this guide is for you. Most wealth management and private wealth firm websites tell you essentially nothing useful: no fee rates, no minimums, no way to compare one firm against another. The 15 independent firms listed here serve high net worth clients across Massachusetts, Connecticut, Maine, and the broader New England area. We ranked them using a transparent, data-driven framework built entirely from SEC ADV regulatory filings and verified third-party recognition.

01

How Do the Top New England Wealth Managers Compare?

The top wealth management firms in New England for high net worth investors include Welch and Forbes, Bradley, Foster & Sargent, Florek Financial, and Portland Global Advisors. All independent RIAs here operate under fiduciary duty under the Investment Advisers Act of 1940. Annual fees at fee-only firms in this region typically range from 0.50% to 1.00% for accounts between $2M and $10M.
#FirmHeadquartersEst.AUMFee Type
1 Welch and Forbes MA 1838~$9.2B Fee-Only
2 Bradley, Foster & Sargent CT 1994$9.1B Fee-Only
3 Florek Financial MA 2009~$432M Fee-Only
4 Portland Global Advisors ME 1997~$794M Fee-Only
5 Flagship Harbor Advisors MA 2010~$3.0B Fee-Based
6 TQM Wealth Partners MA 2016~$124M Fee-Only
7 Radius Wealth Management MA 2014~$171M Fee-Only
8 Arlington Investment Advisors MA 2018Contact firm Fee-Only
9 Birch Financial Partners MA 2021Contact firm Fee-Based
10 Unison Advisors RI 2005~$1.81B Fee-Only
11 US Advisory Group MA 1996~$61M Fee-Based
12 Northwestern Mutual: H. Walsh MA 1857 (NWM)Contact firm Fee-Based
13 Crescent Bay Wealth MA Contact firmContact firm Fee-Based
14 Ledgewood Financial MA 1998Contact firm Fee-Based
15 Northeast Financial Group MA Contact firmContact firm Fee-Based

Fee structure, AUM, and location sourced from SEC Form ADV filings via Advisor Facts and SEC EDGAR, firm websites, and FINRA BrokerCheck. "Contact firm" indicates data not publicly confirmed. All fee data subject to change; contact firms directly for current schedules.


01b

What's the Difference Between Fee-Only and Fee-Based?

A fee-only advisor is paid exclusively by you - nothing else. A fee-based advisor is paid by you and can also receive commissions or payments from outside sources. It's a subtle difference in wording but a meaningful one when you're deciding who to trust with your money. Read our full guide to fee structures.


02

Full Firm Profiles

The profiles below cover all 15 firms with data sourced from SEC ADV filings, firm websites, and verified third-party recognition. Rankings reflect the Advisor Facts methodology described in Section 04.
Welch and Forbes website screenshot
1

Welch and Forbes LLC

Welch and Forbes is the oldest private wealth management firm on this list. Founded in 1838 in Boston, it has navigated markets through the Civil War, two World Wars, the Great Depression, and a dozen recessions. For high net worth families and institutions in New England, that longevity isn't a party trick. It signals the kind of multi-generational continuity that matters when you're planning not just for yourself, but for your children and grandchildren.

In 2025, Barron's ranked Welch & Forbes #68 on its Top 100 RIA Firms list, an independent recognition covering assets managed, growth, succession planning, and quality of practice. The firm offers a comprehensive suite of investment management, trust, tax, and estate services under one roof, which is meaningful when your wealth situation requires coordinated multi-discipline planning.

Headquarters
Boston, MA
Founded
1838
Website
welchforbes.com
Fee Type
Fee-only
Strengths
  • Barron's Top 100 RIA nationally; $9.2B AUM with 463 clients averaging $16.2M per relationship
  • 187-year operating history with multi-generational client relationships and institutional scale
  • Fully integrated family office: investment, trust, tax, and estate planning under one roof
Limitations
  • Minimum account size of approximately $3M; not suited for investors below that threshold
  • Boston, MA office only; clients based in Connecticut, Maine, or Rhode Island may prefer a firm with closer regional offices
Why #1 on This List

Welch and Forbes ranks first on the strength of 187 years of continuous operation, a current Barron's Top 100 national ranking, and the deepest integrated private wealth offering on this list - investment management, trust administration, tax planning, and estate work coordinated under one roof. No other firm here combines that longevity with active national recognition and full-service private wealth depth.

Bradley Foster and Sargent website screenshot
2

Bradley, Foster & Sargent, Inc.

Bradley, Foster & Sargent (BFS) is one of the largest independent private wealth management firms between New York and Boston, managing $9.1 billion in client assets. The Hartford-headquartered firm has offices across Connecticut, Massachusetts, Maine, Florida, and Chicago, and has appeared on Barron's Top 100 RIA Firms list for three consecutive years, the only Connecticut firm to achieve this. Founded in 1994, BFS gives clients direct access to the portfolio manager responsible for their account, not a relationship manager who then delegates to a team you never meet.

Headquarters
Hartford, CT
Founded
1994
Website
bfsinvest.com
Fee Type
Fee-only
Strengths
  • Barron's Top 100 and Forbes Top RIA for three consecutive years; only CT firm on either national list
  • Clients work directly with their portfolio manager - no delegation to junior staff
  • Multi-state footprint (CT, MA, ME, FL, Chicago) suits clients with complex geographic needs
Limitations
  • Implied minimum account of ~$500K based on the firm's disclosed annual minimum fee
  • Hartford HQ is less convenient for clients based in Greater Boston or northern New England
Why #2 on This List

BFS earns #2 on the strength of the highest AUM on this list ($9.1B) and sustained Barron's Top 100 recognition over three consecutive years. Its multi-state New England presence and direct portfolio manager model are structural differentiators for clients managing significant inherited or business-exit wealth.

Florek Financial website screenshot
3

Florek Financial LLC

Florek Financial is a private wealth management firm located in Duxbury, Massachusetts, serving a select roster of approximately 96 clients with average assets of $5.3 million per relationship. That ratio is notable: it signals a deeply boutique, high-attention practice designed for multi-generational families with significant wealth and complexity, not a growth-at-all-costs asset gatherer.

Founded in December 2009 by Robert Florek, CPA and CFP®, the firm manages approximately $432 million in client assets as of its most recent SEC filing. Florek's background includes time at RINET Company (now CAPTRUST) in Boston, where he served as Director and Senior Relationship Manager advising ultra-high-net-worth families. Partner Paul Florek brings 20+ years of institutional equity experience (Deutsche Bank / Alex Brown, Columbia MBA). The firm's compensation model is fee-only, with no product commissions. The minimum annual fee is of $12,000 ($3,000/quarter), putting the effective client minimum at approximately $1.5–2M.

Headquarters
Duxbury, MA
Founded
2009
Website
florekfinancial.com
Fee Type
Fee-only
Strengths
  • ~$432M AUM across 96 clients averages $5.3M per relationship - among the highest concentrations on this list
  • Founder holds CPA and CFP® designations; integrated tax and investment strategy in-house
  • $12,000 annual minimum signals a practice built exclusively around serious wealth management engagements
Limitations
  • Two-principal team means capacity for new clients is limited; timing of availability varies
  • Minimum annual fee of $12,000 implies an effective account minimum of $1.5-2M
Why #3 on This List

Florek Financial earns #3 on the strength of the highest HNW client concentration on this list: ~$432M AUM with only 96 clients, averaging $4.5M per relationship. The founder's dual CPA + CFP® credentials and fee-only structure represent the top of the range on both fee transparency and HNW client focus. The absence of confirmed national rankings (Barron's, Forbes) prevents a higher placement.

Portland Global Advisors website screenshot
4

Portland Global Advisors LLC

Portland Global Advisors is a tightly held wealth management firm in Portland, Maine, focused exclusively on global investment portfolios for a select number of high net worth families. Founded in 1997, the firm manages approximately $794 million to $1 billion across roughly 291 clients, with average client assets of around $3.4 million. That selective client roster signals intentional practice management: depth over volume. If you're a New England family with international asset exposure or philanthropic complexity, Portland Global's global portfolio mandate and lifestyle/estate coordination services make it a distinctive choice.

Headquarters
Portland, ME
Founded
1997
Website
portlandglobal.com
Fee Type
Fee-only
Strengths
  • 29 years of continuous operation; ~$794M AUM with 291 clients averaging $3.4M each
  • Genuine global portfolio orientation; rare among regional RIAs and valuable for clients with international holdings
  • Clean regulatory history across nearly 30 years of SEC ADV filings
Limitations
  • Portland, ME headquarters is a long drive from Greater Boston and southern New England
  • Fee schedule not published on firm website; request ADV Part 2 for current details
Why #4 on This List

Portland Global earns #4 on the strength of nearly 30 years of continuous operation, a selective client roster averaging $3.4M per relationship, and a genuine global portfolio mandate that distinguishes it from the typical New England RIA. It ranks below the top three primarily because no national recognition (Barron's, Forbes) is confirmed, and its fee schedule is not publicly posted on the firm website.

Flagship Harbor Advisors website screenshot
5

Flagship Harbor Advisors

Flagship Harbor Advisors is an independent hybrid RIA headquartered in Boston, founded in 2010, with locations across Massachusetts including Plymouth, Hyannis, and Marshfield. The firm operates under an LPL Financial custodian relationship, making it fee-based rather than fee-only. It serves high net worth individuals, families, and professionals seeking comprehensive retirement, estate, tax, and portfolio planning. Their multi-family office capability is notable for clients with cross-generational or complex trust structures.

Headquarters
Boston, MA
Founded
2010
Website
flagshipharbor.com
Fee Type
Fee-based
Strengths
  • $3.0B AUM with offices in Boston, Plymouth, Hyannis, and Marshfield
  • Over 2,400 clients demonstrates meaningful HNW experience at scale
  • Full-service planning: retirement, tax, estate, risk management, and philanthropy
Limitations
  • Fee-based through LPL Financial; compensation may include product-related revenue alongside advisory fees
  • Average client balance of ~$391K; HNW clients should confirm the dedicated service level available to them
Why #5 on This List

Flagship Harbor earns #5 on the strength of $3.0B AUM and a broad Massachusetts footprint serving HNW clients across Boston, Plymouth, Hyannis, and Marshfield. It ranks below the top four because its fee-based structure through LPL introduces third-party compensation considerations, and its average client balance of ~$391K indicates the practice serves a wide asset range rather than exclusively HNW clients.

TQM Wealth Partners website screenshot
6

TQM Wealth Partners LLC

TQM Wealth Partners is a Marblehead, Massachusetts-based RIA that positions itself as a personal CFO for high net worth clients: business owners, executives, and families navigating complex wealth transitions. The firm's name comes from Total Quality Management, translated into financial planning: comprehensive, disciplined, continuously refined. Advisors hold CFP® (Certified Financial Planner) and RMA® (Retirement Management Advisor) credentials. Founder and CEO Marcel Quiroga brings 25+ years of HNW advisory experience.

For clients asking "I want a financial advisor who acts as my personal CFO," TQM is one of the few New England RIAs explicitly built around this model, coordinating attorneys, CPAs, and investment accounts in a single engagement. This approach is particularly suited to business owners and executives with concentrated stock, equity compensation, or pre-liquidity event complexity.

Headquarters
Marblehead, MA
Founded
2016
Website
tqmwealthpartners.com
Fee Type
Fee-only
Strengths
  • Personal CFO model coordinates investment management, tax planning, and estate strategy under one point of accountability
  • Dual CFP® and RMA® credentials reflect above-average depth in financial planning and retirement income
  • Family-operated with founder continuity; Marcel Quiroga and son Jordi Bakovic provide stable, long-term relationships
Limitations
  • ~$124M AUM reflects an early-growth practice; limited institutional scale relative to larger peers
  • Contact firm to confirm current minimums and fee tiers
Why #6 on This List

TQM earns its place on the strength of a purpose-built personal CFO model and CFP® and RMA® credentials that are well-matched to the business owner and executive segment. It ranks here rather than higher because AUM of ~$124M reflects an earlier-stage practice, and no national recognition (Barron's, Forbes) has been confirmed. For clients who want a coordinator rather than just a portfolio manager, TQM is a strong candidate.

Radius Wealth Management website screenshot
7

Radius Wealth Management

Radius Wealth Management is a fee-only RIA in Quincy, Massachusetts with a Boston Seaport office, founded in 2014. The firm manages approximately $171 million for a select number of high net worth individuals and families, offering asset allocation, financial planning, and family office services. Radius employs a proprietary, evidence-based investment process combining fundamental, quantitative, and technical analysis. Their Seaport District conference spaces are designed specifically for high-touch client planning conversations.

Headquarters
Quincy, MA
Founded
2014
Website
radiuswealth.com
Fee Type
Fee-only
Strengths
  • ~$171M AUM with selective HNW client focus; boutique scale enables high-touch service
  • Fee-only fiduciary with a proprietary, technology-enabled investment process
  • Boston Seaport office designed for high-touch client planning conversations
Limitations
  • Founded 2014. The firm has a shorter operating history than most on this list
  • Contact firm to confirm current minimums and fee tiers
Why #7 on This List

Radius earns its place on the strength of a fee-only structure, a selective HNW client focus, and a technology-driven investment process that sets it apart from generalist regional RIAs. Its Boston Seaport office is a practical differentiator for Greater Boston clients who want an in-person planning experience. It ranks here rather than higher because ~$171M AUM reflects a boutique practice with limited national profile, and its 2014 founding is a shorter track record than the top-tier firms.

Arlington Investment Advisors website screenshot
8

Arlington Investment Advisors

Arlington Investment Advisors is a fee-only RIA in Arlington, Massachusetts, founded in 2018 by Michael Stern, a former Merrill Lynch advisor and 20-year Arlington resident. The firm builds customized plans using low-cost index ETFs and offers ESG-focused portfolios for socially responsible investors. Custody through Charles Schwab. Stern also teaches investing through Boston Finance Academy and authored The Shark Investor. The firm serves individuals, families, and small business owners across retirement, education, and wealth planning.

Headquarters
Arlington, MA
Founded
2018
Website
arlingtoninvest.com
Fee Type
Fee-only
Strengths
  • Fee-only fiduciary with ESG and socially responsible investing capability
  • Low-cost index ETF approach keeps fund expenses minimal and preserves more client returns
  • Schwab custody provides independent account visibility and strong SIPC protections
Limitations
  • Single-advisor structure raises questions about continuity and succession planning
  • Contact firm to confirm current fee structure and account minimums
Why #8 on This List

Arlington Investment Advisors earns its place on the strength of a fee-only fiduciary structure, low-cost index ETF construction, and an unusually accessible founding advisor with a public education track record. It ranks here rather than higher because AUM is not publicly disclosed, the practice is single-advisor, and national recognition has not been confirmed. Suited for fee-conscious HNW clients who want direct access to a credentialed, locally rooted advisor.

Birch Financial Partners website screenshot
9

Birch Financial Partners

Birch Financial Partners operates as a DBA of McAdam LLC, a larger independent financial advisory network with offices in Philadelphia, Chicago, Boston, and Tysons Corner. The practice offers full-service financial planning across retirement, education, tax, estate, and investment management, with a focus on healthcare, pharmaceutical, and IT professionals. Investment advisory services are registered under McAdam LLC with the SEC; securities through Madison Avenue Securities, LLC (FINRA/SIPC). Fee-based: some services may involve commissions. Verify the individual ADV before engaging.

Headquarters
MA / NJ / CT
Founded
2021
Website
birchfp.com
Fee Type
Fee-based
Strengths
  • Backed by McAdam LLC's national infrastructure and institutional compliance support
  • Specialized in healthcare, pharma, and IT professionals with sector-specific planning expertise
  • Multi-state registered (NJ, CT, MA); well-suited for professionals across the New England corridor
Limitations
  • Registered as a DBA under McAdam LLC; Birch-specific AUM is not separately disclosed in public SEC filings
  • Fee-based; compensation may include commissions alongside advisory fees. Request the full fee schedule before engaging.
Why #9 on This List

Birch Financial earns its place on the strength of sector-specific planning expertise for healthcare, pharmaceutical, and IT professionals, and McAdam LLC's national compliance infrastructure behind the practice. It ranks here rather than higher because practice-level AUM is not separately disclosed and fee-based compensation requires upfront review to understand fully.

Unison Advisors website screenshot
10

Unison Advisors LLC

Unison Advisors offers three evidence-based, multi-asset portfolio strategies for institutions and individuals: Conservative, Moderate, and Growth. Founded by Nir Kaissar, formerly of Sullivan & Cromwell LLP, the firm emphasizes low-cost, low-turnover, valuation-driven portfolio construction. Unlike traditional wealth managers, Unison focuses on investment management and does not position itself as a full-service financial planning practice. Fee schedule and AUM details are available on Advisor Facts or in the firm's Form CRS at unisonadvisors.com.

Headquarters
Providence, RI
Founded
2005
Website
unisonadvisors.com
Fee Type
Fee-only
Strengths
  • ~$1.81B AUM with only 98 clients, one of the highest per-client asset averages on this list
  • Evidence-based, low-turnover philosophy; clients hold separately managed accounts, not pooled vehicles
  • Founded by former Sullivan & Cromwell attorney; analytical rigor distinguishes it from traditional wealth managers
Limitations
  • Investment management focus only. Unison does not position itself as a full-service financial planning or tax advisory practice
  • Confirm current minimums and fee tiers directly with the firm
Why #10 on This List

Unison earns its place on the strength of one of the highest per-client asset averages on this list - ~$1.81B AUM across only 98 clients. Its evidence-based, low-turnover investment philosophy and the founder's legal and analytical background distinguish it from traditional wealth managers. It ranks here rather than higher primarily because its scope is investment management only, with no integrated tax, estate, or planning services.

US Advisory Group website screenshot
11

US Advisory Group LLC

US Advisory Group is a state of Massachusetts-registered investment advisor located in Beverly, MA, serving clients across the Greater Boston area. The firm specializes in wealth management, investment counseling, and advanced planning for business owners and families, with a focus on values-based goal alignment and retirement planning. Investment advice is offered through USAG; securities through LPL Financial, Member FINRA/SIPC. As a state-registered RIA, USAG operates under Massachusetts securities regulation.

Headquarters
Beverly, MA
Founded
1996
Website
usadvisory.com
Fee Type
Fee-based
Strengths
  • Nearly 30 years serving North Shore Massachusetts families with deep local roots
  • LPL platform provides broad product access and institutional-grade account infrastructure
  • Comprehensive planning covering retirement, tax, estate, and risk management in one relationship
Limitations
  • ~$61M AUM reflects limited institutional scale relative to larger peers on this list
  • Fee-based via LPL; compensation may include platform or product-related revenue
Why #11 on This List

US Advisory Group brings nearly 30 years of continuous North Shore Massachusetts service and a comprehensive planning approach covering retirement, tax, estate, and investment management. It ranks in the lower tier due to smaller AUM (~$61M) relative to peers and a fee-based structure through LPL Financial that introduces third-party compensation considerations.

Northwestern Mutual Heidi Walsh website screenshot
12

Northwestern Mutual: Heidi Walsh

Heidi Walsh is a financial representative affiliated with Northwestern Mutual, one of the nation's largest financial services companies (founded 1857). Northwestern Mutual integrates life insurance, disability insurance, and investment management. As a captive advisor model, advisors primarily offer Northwestern Mutual products, which distinguishes this practice from the fully independent RIAs ranked above it. Review the individual ADV and Form CRS disclosure documents to understand the full compensation structure before engaging.

Headquarters
Massachusetts
Founded
Contact firm
Website
northwesternmutual.com
Fee Type
Fee-based
Strengths
  • Backed by Northwestern Mutual's 167-year history and top financial strength ratings
  • Integrated insurance and investment planning under one advisor relationship
  • National compliance infrastructure and practice support from NWM behind the advisor
Limitations
  • Captive model limits product selection to Northwestern Mutual's own platform
  • Fee-based compensation includes insurance commissions; review disclosures for potential conflicts
Why #12 on This List

Heidi Walsh's strength is the integration of insurance and investment planning in one advisory relationship - a setup that suits clients with significant protection needs alongside their wealth management goals. Her practice ranks here because the Northwestern Mutual captive model limits product selection to NWM's own platform, and fee-based compensation includes insurance commissions worth reviewing carefully before engaging.

Crescent Bay Wealth website screenshot
13

Crescent Bay Wealth

Crescent Bay Wealth is an Ameriprise Financial private wealth advisory practice based in Norwell, Massachusetts, led by advisor Jeffrey W. Wheeler (AAMS® certified). The practice specializes in personalized financial planning for retirement, asset allocation, and estate planning goals. As an Ameriprise-affiliated practice, advisors work within Ameriprise Financial Services, LLC's product platform. Individual fee structures and AUM are not publicly disclosed; request the advisor's Form CRS and ADV disclosure directly for current rates.

Headquarters
Norwell, MA
Founded
Contact firm
Website
ameripriseadvisors.com
Fee Type
Fee-based
Strengths
  • Ameriprise affiliation provides access to institutional planning tools and a broad investment platform
  • Norwell, MA location offers personalized, locally rooted service for South Shore families and professionals
  • Full-service planning: retirement, estate, tax, and investment management under one relationship
Limitations
  • Practice-specific AUM and founding year not separately disclosed under Ameriprise registration
  • Fee-based; full fee transparency requires a direct conversation with the advisor
Why #13 on This List

Crescent Bay offers locally rooted South Shore Massachusetts planning through Ameriprise's institutional platform. It ranks here due to limited public data - AUM and fees are registered under Ameriprise and not separately disclosed - and a fee-based structure that includes product-related compensation. A direct conversation with the advisor is needed to get full fee transparency.

Ledgewood Financial website screenshot
14

Ledgewood Financial Inc.

Ledgewood Financial has been serving clients in the Greater Boston area since 1998, helping individuals and families prepare for retirement through fully integrated, comprehensive financial planning. The firm covers accumulation, retirement planning, estate planning, risk management, business planning, and taxation. Services are provided through Ameriprise Financial Services, LLC. For current fees, AUM, and account minimums, request the ADV Part 2 and Form CRS from the advisor directly or view via FINRA BrokerCheck.

Headquarters
Danvers, MA
Founded
1998
Website
ledgewoodfinancial.com
Fee Type
Fee-based
Strengths
  • Nearly 30 years serving Greater Boston and the Danvers corridor
  • Ameriprise platform provides access to a broad suite of investment, insurance, and financial planning tools
  • Full-service planning covering retirement, estate, risk management, and investment management
Limitations
  • Registered under Ameriprise Financial; practice-specific AUM not separately disclosed in public SEC filings
  • Fee-based; request full fee disclosure from the advisor before engaging
Why #14 on This List

Ledgewood's nearly 30-year presence in the Greater Boston corridor and comprehensive planning capability are solid credentials for local families. Like Crescent Bay, it ranks in the lower tier because practice-level AUM is not separately disclosed under Ameriprise registration, and full fee transparency requires a direct conversation with the advisor.

Northeast Financial Group website screenshot
15

Northeast Financial Group

Northeast Financial Group is a Massachusetts-based financial planning practice offering wealth management, retirement planning, and investment advisory services to individuals and families in New England. For current fee schedules, AUM, and account minimums, request the firm's Form ADV Part 2 and Form CRS directly, or verify credentials via FINRA BrokerCheck and SEC EDGAR.

Headquarters
Massachusetts
Founded
Contact firm
Website
northeastfn.com
Fee Type
Fee-based
Strengths
  • New England-based practice with a focus on personalized financial planning for local families and professionals
  • Full-spectrum planning capability spanning retirement income, investment management, and estate strategy
  • Regional focus brings familiarity with New England's tax and estate planning landscape
Limitations
  • AUM and founding year not independently confirmed from public filings; contact the firm directly for current capacity and service details
  • Fee schedule not publicly posted; clients should request ADV Part 2A disclosure before engagement
Why #15 on This List

Northeast Financial Group rounds out the list as a Massachusetts-based practice with full-spectrum planning capability. It ranks last primarily because AUM, founding year, and fee schedule are not independently confirmed from public filings. Contact the firm directly or search on Advisor Facts for current details before engaging.


03

How Much Do New England Wealth Managers Actually Charge?

Wealth management fees at independent RIAs in New England typically run 0.50%–1.00% annually for accounts between $2 million and $10 million, based on SEC ADV filings tracked by Advisor Facts. The old "1% rule" is increasingly outdated for substantial accounts. Fees at independent private wealth management firms are almost always negotiable for the right client.

At fee-only New England RIAs, expect 0.50%–1.00% annually for accounts between $2M and $10M. The difference between 0.75% and 1.00% on a $5M portfolio compounds to over $300,000 across a 20-year horizon at 7% returns. Fees are almost always negotiable. See our full fee analysis.

Account Size Typical Annual Rate Annual Dollar Cost Fee Type
$1M – $2M 0.85% – 1.00% $8,500 – $20,000 Fee-Only
$2M – $5M 0.75% – 1.00% $15,000 – $50,000 Fee-Only
$5M – $10M 0.50% – 0.75% $25,000 – $75,000 Fee-Only
$10M+ 0.35% – 0.50% $35,000+ Fee-Only

Rates are representative ranges for fee-only independent RIAs in New England, based on SEC ADV filings tracked by Advisor Facts. Actual rates vary by firm and are negotiable. Fee-based firms may charge differently depending on product and platform arrangements.

One thing worth knowing: the rate you see in an ADV filing is almost never the rate you have to pay. Most independent RIAs will negotiate, especially for accounts above $3M or for clients consolidating assets from multiple custodians. The firms ranked #1 and #2 on this list, Welch and Forbes and Bradley, Foster & Sargent, both have confirmed public fee schedules. View them directly on Advisor Facts before any introductory conversation.


04

How Did Advisor Facts Rank These Firms?

Every firm on this list was evaluated across five areas using data drawn directly from SEC Form ADV regulatory filings, verified third-party rankings, and firm websites. No firm paid to be included. Rankings reflect independent editorial judgment based on the criteria below.
Evaluation Area What We Looked At Why It Matters
AUM and Scale Total assets under management and average account size per client A larger AUM with a selective client count signals demonstrated trust at scale. A high average account size signals the firm genuinely operates in the HNW segment rather than serving a broad range of asset levels.
Fee Structure and Transparency Fee-only vs. fee-based compensation; public disclosure of fee schedules in SEC ADV filings Fee-only firms eliminate third-party compensation entirely, which removes the most common source of conflicts of interest in wealth management. Publicly disclosed fee schedules, verifiable in SEC ADV filings, allow investors to compare what they'll actually pay before signing anything.
National Recognition Current appearances on Barron's Top 100 RIA Firms and Forbes America's Top RIA Firms These are the two most credible third-party rankings for independent RIAs. Both assess AUM growth, succession planning, compliance record, and quality of practice. Only verified, current recognitions with working source links are counted. No award is included unless it can be confirmed directly.
High Net Worth Client Focus Account minimums, average client assets, and the proportion of HNW clients in the firm's reported client base A firm that manages $500M across 50 clients serves very different needs than one managing $500M across 5,000 clients. Minimum account size and average relationship size reveal how deeply a practice is actually oriented toward complex, high-asset planning.
Service Breadth Whether the firm integrates investment management, tax planning, estate planning, and trust administration under one roof For investors with $2M or more, coordinated multi-discipline service matters. A firm that can manage your portfolio, plan your estate, and work directly with your CPA and attorney in a single engagement reduces the complexity you have to manage personally and tends to produce better outcomes than siloed point solutions.

All data in this article is sourced from SEC Form ADV regulatory filings, FINRA BrokerCheck, firm websites, and verified third-party rankings. Fee data is self-reported by RIAs in their regulatory filings and subject to change; contact firms directly for current schedules. Advisor Facts maintains an independent, uncompensated research process. No firm on this list paid to be included or ranked.


05

Frequently Asked Questions

Who are the best financial advisors in Boston for someone with significant assets? +
Top-ranked Boston-area wealth management firms for high net worth investors on this list include Welch and Forbes, Flagship Harbor Advisors, Radius Wealth Management (fee-only, Boston Seaport), and TQM Wealth Partners. For investors with $2 million or more, Welch and Forbes stands out for its 187-year history, Barron's recognition, and depth of integrated private wealth services. View full profiles and fee data at Advisor Facts.
I live in Boston and have $3 million to invest - which firms should I consider? +
For a $3 million account in Boston, strong options on this list include Welch and Forbes, Radius Wealth Management, and TQM Wealth Partners. At $3M, you'll generally qualify for the most favorable fee tiers at these firms. Expect blended rates around 0.75%–0.90% annually, or roughly $22,500–$27,000 per year. See our full fee analysis here.
I want a financial advisor who acts as my personal CFO. Who should I talk to in New England? +
TQM Wealth Partners explicitly positions itself as a personal CFO for high net worth clients, coordinating investments, tax, estate, and legal relationships in a single integrated engagement. Florek Financial takes a similar approach, with a founder who is both a CPA and a CFP® managing only 96 relationships. Both are fee-only. The personal CFO model is particularly valuable for business owners, executives with complex compensation, and families navigating major liquidity events. Contact TQM at tqmwealthpartners.com or reach the Advisor Facts team at info@advisorfacts.com.
I own a business worth several million dollars. What kind of wealth manager do I need? +
Business owners need a private wealth management advisor who understands concentrated business equity, liquidity event timing, complex tax structures, and succession planning, not just portfolio returns. Among the firms on this list, TQM Wealth Partners, Florek Financial, and Bradley, Foster & Sargent are best positioned for business-owner complexity. Ask any candidate whether they've advised clients through a business sale in your size range ($5M–$50M), and whether they can coordinate directly with your CPA and attorney. If the answer is uncertain, keep interviewing.
I recently sold my business and have significant proceeds to invest. What should I do first? +
After a business sale, the first 90 days are largely about tax management, not investment returns. Work with a fee-only RIA who can model your after-tax proceeds, evaluate installment sale structures, and coordinate with your tax advisor before deploying capital. Florek Financial (Duxbury, CPA + CFP® founder), TQM Wealth Partners (personal CFO model), and Welch and Forbes (full-service: investment + tax + trust + estate) are well-suited to this situation. Don't let anyone rush you into equity markets before the tax picture is clear. Read about fee benchmarking at Advisor Facts before signing any agreement.
What financial advisors in Massachusetts work with clients who have $1 million or more? +
Massachusetts firms on this list serving investors with $1M+ include Welch and Forbes, Florek Financial, Portland Global Advisors, Radius Wealth Management, TQM Wealth Partners, Flagship Harbor Advisors, and Arlington Investment Advisors. Most fee-only RIAs have implicit minimums driven by their minimum annual fee. Confirm both the stated account minimum and minimum annual fee. Both are in SEC ADV filings and visible on Advisor Facts.
What are the most competitive fee rates charged by independent RIAs in New England? +
Based on SEC ADV filings tracked by Advisor Facts, competitive New England private wealth management rates run 0.50%–0.75% annually for accounts above $5 million, and 0.75%–1.00% for $2M–$5M accounts. Fee-only firms publish tiered fee schedules in their ADV filings that are verifiable and legally required. Florek Financial discloses a minimum annual fee of $12,000, which is a useful benchmark. See our full fee analysis here.
Should I use an independent RIA or a firm like Merrill Lynch or Morgan Stanley? +
For most high net worth investors seeking personalized private wealth management, an independent RIA offers better fee transparency, a cleaner fiduciary standard, and more direct advisor access. Large firms like Merrill Lynch and Morgan Stanley provide strong infrastructure and integrated banking for clients who need global credit facilities or complex custody. Many investors with $5M+ use both: an independent RIA for investment management and planning, and a major private bank for credit and banking needs.
How do I know if my financial advisor is charging me too much? +
Pull your advisor's Form ADV from SEC EDGAR or view it on Advisor Facts, then compare their fee schedule to comparable firms. Paying 1.00% on a $5 million account with no integrated tax or estate services is above market for New England. A 10–20% reduction is often achievable by simply asking. Read our fee negotiation guide here.
Is there a website where I can see what different RIAs actually charge? +
Advisor Facts publishes fee rates, minimums, AUM, and service details soyou can compare fee rates, minimums, and AUM across independent RIAs before your first conversation with any of them. Every data point traces back to a named SEC ADV filing. Search by location, fee type, or account minimum at Advisor Facts.

06

Finding the Right New England Wealth Manager

The right wealth management firm depends on your asset level, the complexity of your financial picture, and how much you value having coordinated tax, estate, and investment work handled in one place. For investors with $3M or more, fee-only firms like Welch and Forbes and Bradley, Foster & Sargent offer the deepest integrated services. For investors who want a boutique experience with a founder-level relationship, Florek Financial and TQM Wealth Partners are strong options.

The firms on this list were selected and ranked using publicly available data from SEC ADV filings, FINRA BrokerCheck, and verified third-party recognition. No firm paid to appear. Rankings reflect independent editorial judgment using the Advisor Facts methodology described in Section 04.

If you have questions about a specific firm, a fee rate you've been quoted, or how to compare two firms on this list, reach out to the team at Advisor Facts. The conversation is free and there's no obligation.

Still comparing your options?

Have questions about a specific firm or fee rate? The Advisor Facts team reviews SEC ADV filings so you don't have to.