How Do the Top Massachusetts Wealth Managers Compare on Fees?
The wealth management firms headquartered in Massachusetts that publish their advisory fees are a mix of long-established Boston-area institutions and newer firms, all serving high-net-worth families. The list below ranks every Massachusetts-based firm meeting our quality bar — at least 100 high-net-worth clients, $500 million or more in high-net-worth assets, and a transparent fee schedule.
Fees come directly from each firm's most recent SEC Form ADV Part 2A regulatory filing. For each firm we apply their published tier schedule to a $2 million portfolio and compute both the annual dollar fee and the blended rate. Firms whose disclosed minimum account size exceeds $2 million, and ultra-high-net-worth shops whose average client AUM is above $20 million (and so are unlikely to accept a $2M account), are excluded.
Methodology
- Universe: RIAs headquartered in Massachusetts
- Portfolio size: $2 million
- Fee calculation: Blended rate across all disclosed fee tiers, applied to a $2 million portfolio
- Minimum clients: 100+ high-net-worth clients
- Avg client portfolio: $1 million to $20 million (ultra-high-net-worth shops excluded — unlikely to accept a $2M account)
- Minimum high-net-worth assets: $500 million across all high-net-worth clients
- High-net-worth focus: High-net-worth assets at least 30% of total firm assets
- Exclusions: Firms with negotiable-only fee rates, and firms with a disclosed minimum account size above $2 million
- Source: SEC Form ADV Part 2A regulatory filings, filed within the last 18 months. If a firm only discloses they charge clients a fee of 2.50% or they charge clients between 1.00% and 2.50%, then we state the fee on all clients as 2.50%
- Disclaimer: Advisor Facts pulls fee data from publicly available data. Firms do not elect to be included. Advisor Facts is not compensated by firms for inclusion in the list
Minot Deblois Advisors LLC
Minot DeBlois Advisors is a wholly-owned subsidiary of Rice, Heard & Bigelow, a Boston-based firm of private trustees. Minot DeBlois provides investment advisory services to trust and non-trust assets of Rice, Heard & Bigelow’s clients. Clients include high net worth individuals and charitable organizations. In addition to managing and administering funded trusts, the firm also prepares income tax returns and offers wealth, tax, estate and philanthropic planning.
S & Co., Inc.
S & Co is an affiliate of Salton & Co, a firm of private trustees and executors. S & Co provides investment advice to individuals, trusts, estates, and charitable organizations, with a focus on assisting in the management of trust assets. The firm can trace its history to 1922. Note that in addition to a 0.70% fee on principal, S & Co charges a 5.5% fee on any income generated by the assets they manage.
Pinney & Scofield, Inc.
The history of Pinney & Scofield goes back to 2003. The firm offers financial planning and investment management to individuals and families, trusts, charitable organizations. Client assets are primarily invested in passive investment funds. Fees on passive funds are generally lower than active money mangers and a typical Pinney & Scofield client pays about 0.36% in fund fees (in addition to fees Pinney & Scofield).
RPg Family Wealth Advisory
Risk Paradigm Group (RPg) offers ETF investment strategies for financial intermediaries (broker-dealers, registered investment advisors) as well as individual clients.
Wilkins Investment Counsel, Inc.
Wilkins Investment Counsel manages investment portfolios for high-net-worth individuals, families, foundations, endowments and other charitable institutions. They employ fundamental investment research to construct tailored portfolio of stocks and bonds for each client. Founded in 1989.
Stage Harbor Financial
Founded in 2018, Stage Harbor offers financial planning, consulting, and investment management services to high net worth individuals, trusts, estates, businesses, and retirement plans. Stage Harbor primarily invests client portfolios in external money managers (mutual funds, ETFs).
McNamara Financial Services, Inc.
Founded in 2005, McNamara Financial Services offers investment advisory services to high net worth individuals, trusts, endowments, businesses, and retirement plans. MFS constructs client investment portfolios consisting of low-cost, diversified mutual funds and/or ETFs.
Washington Trust Advisors
Washington Trust Advisors offers wealth management and holistic financial planning services and has been registered with the SEC since 1983. Washington Trust Advisors invests clients portfolios in a Focused Thematic Growth equity strategy managed directly by Washington Trust Advisors, as well fixed income and other investment products managed externally. Offices in Wellesley, MA, New Haven, CT and Westerly, RI. Prepares individual income tax returns at no charge for clients who meet established asset minimums.
O'Brien Wealth Partners LLC
Established in 1986, O'Brien Wealth Partners is a fee-only firm offering investment management and financial planning to individuals, families, businesses, and nonprofits. O'Brien builds portfolios primarily from mutual funds and ETFs and may allocate a portion to independent third-party managers for specialized strategies. In June 2025, O'Brien was acquired by Mercer Global Advisors, which now owns the firm; O'Brien has stated it intends to wind down its separate SEC registration as client accounts transition to Mercer.
Flagship Wealth Advisors, Llc.
Founded in 1998 and based in Wakefield, MA, Flagship Wealth Advisors is owned by Paul Ryan and provides investment management and financial planning to individuals, trusts, estates, businesses, and retirement accounts. Flagship favors a long-term, buy-and-hold approach built primarily on mutual funds and ETFs, and also offers model-portfolio and third-party manager programs. Flagship advisors are separately registered as representatives of broker-dealer Osaic Wealth and as licensed insurance agents, and may earn commissions on securities and insurance products sold in that capacity, in addition to advisory fees.
Howland Capital Management LLC
Howland Capital Management traces its roots to 1967, when it was founded as Blackstone Management Corporation; it took the Howland name in 1994 and is owned by its partners. The firm pairs investment management with financial and estate planning, private trustee services, and tax return preparation for individuals and families, trusts, estates, foundations, endowments, and retirement accounts. Howland directly manages separate accounts of publicly and privately traded securities through in-house research, supplemented by mutual funds, ETFs, and its own funds-of-funds. Client assets invested in the fund-of-funds are charged an additional advisory fee. Howland offers additional services for an extra charge, including tax preparation, foundation services, investment consulting, and estate and trust fees.
Loring, Wolcott & Coolidge Fiduciary Advisors was created in 1994 to allow the professional trustees of the Loring, Wolcott & Coolidge Office to provide investment management and advisory services to retirement accounts and other accounts for which they do not serve as trustees. Client portfolios have a strong bias toward publicly traded equities, though may also include bonds or mutual funds. Note that in addition to regular fees on principal, Loring, Wolcott & Coolidge Fiduciary Advisors charges an additional 5.0% on dividends and interest income.
Founded in 1988 by Eugene Clapp III and Douglas Hart, Penobscot Investment Management provides investment management to individuals, trusts, retirement plans, estates, charitable organizations, and corporations. Penobscot directly manages broadly diversified portfolios centered on financially strong, dividend-growing companies, shifting toward cash and fixed income when it considers equities overvalued. The firm imposes no account minimum. Penobscot also serves as trustee for some clients, charging 0.25% above its standard schedule across all tiers in those cases.
The Financial Advisors, LLC
Founded in 2008 and based in Andover, MA, with a second office in Newburyport, The Financial Advisors is a fee-only firm owned by Robert Miller and Michael Kumph. Its team includes a CPA, IRS enrolled agents, and certified financial planners, and the firm offers tax return preparation alongside investment management and financial planning for individuals, trusts, estates, businesses, charities, and retirement plans. The Financial Advisors builds globally diversified portfolios primarily from low-cost institutional mutual funds and ETFs rather than individual stocks. It sets a relatively low 0,000 account minimum.
Boston Standard Wealth Management, LLC
In business since 2011 and Boston Standard Wealth Management is owned by Robert Tafuri, Lee Eudy, and Zachary Bouchard. The firm pairs financial planning with discretionary portfolio management for individuals, trusts, estates, and retirement plans, building portfolios mainly from ETFs alongside some mutual funds and occasional individual stocks and bonds. It sets no account minimum. Clients pay a separate annual financial planning fee, which is waived once a portfolio exceeds .75 million; some principals are also licensed insurance agents who may earn commissions on insurance sold, though never on assets that also carry the advisory fee.
Boston Family Office LLC
Founded in 1996, Boston Family Office is a privately held, partner-owned firm serving individuals, family groups, trusts, and charitable organizations, most of them taxable, with tax consequences factored into investment decisions. The firm builds diversified, individually managed portfolios of stocks and government, corporate, and municipal bonds through fundamental, sector-based research, adding mutual funds, ETFs, or alternatives such as private equity and hedge funds where appropriate. Portfolios are managed directly by in-house portfolio managers rather than outside managers. Boston Family Office generally requires million to open an account.
Middleton & Company Inc.
Middleton & Company has advised clients since 1984 and is exclusively employee-owned through an employee stock ownership trust. The firm serves individuals, families, trusts, endowments, foundations, and retirement plans. Middleton directly selects US stocks and investment-grade bonds through fundamental research across a framework of five strategies, using ETFs for its asset-allocation mandates. As a matter of policy, the firm avoids alcohol, tobacco, and gaming stocks.
93 Financial Group, LLC
93 Financial Group began as an insurance agency in 2004 and registered as an investment adviser in 2008. Based in Woburn, MA, it is a family firm led by brothers Lawrence, Paul, James, and John Welch, and operates as both a registered investment adviser and a licensed insurance agency, with its advisors also earning commissions on insurance products they sell. The firm builds long-term portfolios primarily from mutual funds and ETFs for individuals, families, business owners, trusts, and estates, and includes financial planning at no separate charge. 93 Financial charges a flat 1.00% annual fee on all assets rather than a tiered schedule.
Beaumont Financial Partners
Beaumont Financial Partners traces its history to 1999 and is a wholly owned subsidiary of Focus Financial Partners, which is majority-owned by investment vehicles affiliated with Clayton, Dubilier & Rice, with Stone Point Capital also an indirect owner. Based in Needham, MA, Beaumont offers wealth management and family-office services, including in-house tax preparation and financial planning, and its advisors sometimes serve as trustee for client trusts. Beaumont builds portfolios from individual stocks and bonds together with low-cost index mutual funds and ETFs, and may add outside managers or alternative investments for certain allocations. Its standard fee is 1% on diversified accounts, with bond-ladder and other non-diversified accounts generally charged about 0.50%.
Birch Hill Investment Advisors LLC
Founded in 2007, Birch Hill Investment Advisors is owned by its principals and based in Boston. The firm provides portfolio management, financial planning, and wealth management to individuals, trusts, retirement accounts, endowments, and foundations, building portfolios primarily from individual stocks and bonds with a long-term, tax-sensitive focus on high-quality growth companies, and using mutual funds and ETFs for certain asset classes. Birch Hill integrates ESG considerations into both its security selection and proxy voting, and its principals occasionally serve as trustee for client trusts, for which the firm may charge an additional 0.25% of account value. A 0,000 minimum annual fee applies, which makes the firm most economical for larger portfolios (roughly million and up).
Founded in 1985 and majority-owned by the Lagan Holding Company Trust, Congress Asset Management is a Boston boutique specializing in high-quality growth equities alongside investment-grade fixed income. The firm selects securities directly through bottom-up research organized around investment policy committees, and serves a broad client base spanning individuals and high-net-worth investors, pension plans (including Taft-Hartley and ERISA plans), endowments, corporations, and other institutions, as well as model-portfolio and sub-advisory programs. Congress also runs its own family of mutual funds and ETFs (the Congress Funds) and waives its advisory fee on client assets invested in them. Standard separately managed account fees run up to 1.00%, and the firm sets a relatively low 00,000 minimum.
Crestwood Advisors
Crestwood Advisors Group is part of Focus Financial Partners and through Focus have investment partnerships with SCS, CD&R, and Stone Point. Crestwood is headquartered in Boston, MA and has additional location in Connecticut, Rhode Island, and Colorado. The history of Crestwood goes back to 2003. Crestwood allocates client investments among stocks, bonds, ETFs, ETNS, mutual funds, options, and private investment funds.
Excalibur Management Corp.
Fiduciary Wealth Partners, LLC
Heritage Financial Services
Heritage Financial Services was acquired by Savant Wealth Management in March 2026. Heritage was founded by Charles S. Bean III in 1996. The firm builds portfolios primarily from mutual funds, ETFs, closed-end interval funds, separately managed accounts, and limited partnerships rather than directly picking individual securities, and may also place client assets with independent money managers. For younger family members of clients, Heritage offers the Heritage Generations Group, delivered through the Betterment platform at a 0.75% fee. Heritage pays referral fees to promoters, including SmartAsset, though these do not increase client costs.
LMCG Investments
Monument Group Wealth Advisors, LLC
New England Private Wealth Advisors, LLC
Schwerin Boyle Capital Management, Inc.
TFC Financial Management Inc.
Woodstock Corporation
Zevin Asset Management, LLC
Berkshire Money Management, Inc.
West Branch Capital LLC
St. Germain Investment Management
Grimes & Company
RWA Wealth Partners
RWA Wealth Partners was formed in 2023 through the merger of Adviser Investments, Polaris Wealth Advisory Group, and Ropes Wealth Advisors, and is principally owned by investment vehicles advised by private equity firm Summit Partners. The firm operates through its RWA Family Office and RWA Private Wealth divisions and emphasizes asset allocation, using an open-architecture mix of mutual funds, ETFs, third-party separate-account managers, and private funds, alongside internally managed strategies (branded RWA Capital) and in-house customized fixed income. RWA advisors frequently serve as professional trustees and executors for client families, offering an alternative to corporate trustees, and the firm coordinates integrated estate, tax, and legal planning. Third-party manager fees, estate settlement, and tax preparation through subsidiary RWA Tax Solutions are charged in addition to RWA’s investment management fee; RWA charges no performance fees.