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 AUM: $1 million to $20 million (ultra-HNW shops excluded — unlikely to accept a $2M account)
  • Minimum HNW assets: $500 million across all HNW clients
  • HNW focus: HNW assets at least 30% of total AUM
  • 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
RANKED LIST

Showing all 74 qualifying firms, ranked from lowest to highest fee on a $2 million portfolio.

#1 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$11,000
Annual Fee on $2M
0.55%
Fee Rate on $2M
$1.0M
Avg Client AUM
$4.2B
High Net Worth AUM
4,169
Number of High Net Worth Clients
$250,000
Min Client Size
#2 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$14,000
Annual Fee on $2M
0.70%
Fee Rate on $2M
$9.3M
Avg Client AUM
$1.1B
High Net Worth AUM
120
Number of High Net Worth Clients
Not Available
Min Client Size
#3 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$14,000
Annual Fee on $2M
0.70%
Fee Rate on $2M
$4.8M
Avg Client AUM
$1.4B
High Net Worth AUM
302
Number of High Net Worth Clients
Not Available
Min Client Size
#4 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$15,000
Annual Fee on $2M
0.75%
Fee Rate on $2M
$3.7M
Avg Client AUM
$823M
High Net Worth AUM
221
Number of High Net Worth Clients
$1M
Min Client Size
#5 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$15,000
Annual Fee on $2M
0.75%
Fee Rate on $2M
$3.9M
Avg Client AUM
$520M
High Net Worth AUM
133
Number of High Net Worth Clients
$25,000
Min Client Size
#6 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$15,000
Annual Fee on $2M
0.75%
Fee Rate on $2M
$5.7M
Avg Client AUM
$1.0B
High Net Worth AUM
177
Number of High Net Worth Clients
Not Available
Min Client Size
#7 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$16,000
Annual Fee on $2M
0.80%
Fee Rate on $2M
$4.7M
Avg Client AUM
$1.0B
High Net Worth AUM
221
Number of High Net Worth Clients
Not Available
Min Client Size
#8 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$16,375
Annual Fee on $2M
0.82%
Fee Rate on $2M
$1.9M
Avg Client AUM
$574M
High Net Worth AUM
298
Number of High Net Worth Clients
$500,000
Min Client Size
#9 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$17,250
Annual Fee on $2M
0.86%
Fee Rate on $2M
$4.6M
Avg Client AUM
$1.8B
High Net Worth AUM
400
Number of High Net Worth Clients
$1.5M
Min Client Size
#10 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$17,500
Annual Fee on $2M
0.88%
Fee Rate on $2M
$3.5M
Avg Client AUM
$979M
High Net Worth AUM
283
Number of High Net Worth Clients
$1M
Min Client Size
#11 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$18,000
Annual Fee on $2M
0.90%
Fee Rate on $2M
$3.1M
Avg Client AUM
$669M
High Net Worth AUM
217
Number of High Net Worth Clients
Not Available
Min Client Size
#12 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$18,000
Annual Fee on $2M
0.90%
Fee Rate on $2M
$13.2M
Avg Client AUM
$1.9B
High Net Worth AUM
145
Number of High Net Worth Clients
Not Available
Min Client Size
#14 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$18,000
Annual Fee on $2M
0.90%
Fee Rate on $2M
$4.3M
Avg Client AUM
$1.4B
High Net Worth AUM
317
Number of High Net Worth Clients
Not Available
Min Client Size
#15 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$18,000
Annual Fee on $2M
0.90%
Fee Rate on $2M
$1.8M
Avg Client AUM
$1.0B
High Net Worth AUM
570
Number of High Net Worth Clients
$50,000
Min Client Size
#16 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$18,250
Annual Fee on $2M
0.91%
Fee Rate on $2M
$3.1M
Avg Client AUM
$553M
High Net Worth AUM
177
Number of High Net Worth Clients
Not Available
Min Client Size
#17 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$19,000
Annual Fee on $2M
0.95%
Fee Rate on $2M
$7.6M
Avg Client AUM
$1.9B
High Net Worth AUM
245
Number of High Net Worth Clients
$1M
Min Client Size
#18 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$19,000
Annual Fee on $2M
0.95%
Fee Rate on $2M
$4.3M
Avg Client AUM
$1.0B
High Net Worth AUM
238
Number of High Net Worth Clients
$1M
Min Client Size
#19 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$1.7M
Avg Client AUM
$519M
High Net Worth AUM
302
Number of High Net Worth Clients
Not Available
Min Client Size
#20 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$4.3M
Avg Client AUM
$1.5B
High Net Worth AUM
345
Number of High Net Worth Clients
$250,000
Min Client Size
#21 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$15.8M
Avg Client AUM
$2.7B
High Net Worth AUM
169
Number of High Net Worth Clients
Not Available
Min Client Size
#22 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$2.7M
Avg Client AUM
$4.4B
High Net Worth AUM
1,611
Number of High Net Worth Clients
$100,000
Min Client Size
#23 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$8.8M
Avg Client AUM
$7.6B
High Net Worth AUM
870
Number of High Net Worth Clients
$1M
Min Client Size
Ranked #74 by Barron's 2025 Ranked #56 by Forbes 2025
#24 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$4.2M
Avg Client AUM
$553M
High Net Worth AUM
131
Number of High Net Worth Clients
$1M
Min Client Size
#25 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$12.1M
Avg Client AUM
$1.3B
High Net Worth AUM
109
Number of High Net Worth Clients
Not Available
Min Client Size
#26 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$3.4M
Avg Client AUM
$2.7B
High Net Worth AUM
813
Number of High Net Worth Clients
$1.5M
Min Client Size
Ranked #71 by Forbes 2025
#27 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$3.4M
Avg Client AUM
$2.5B
High Net Worth AUM
725
Number of High Net Worth Clients
$500,000
Min Client Size
#28 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$8.8M
Avg Client AUM
$1.3B
High Net Worth AUM
143
Number of High Net Worth Clients
Not Available
Min Client Size
#29 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$4.5M
Avg Client AUM
$668M
High Net Worth AUM
149
Number of High Net Worth Clients
$2M
Min Client Size
#30 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$9.0M
Avg Client AUM
$3.0B
High Net Worth AUM
338
Number of High Net Worth Clients
$2M
Min Client Size
Ranked #104 by Forbes 2025
#31 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$4.2M
Avg Client AUM
$548M
High Net Worth AUM
131
Number of High Net Worth Clients
$500,000
Min Client Size
#32 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$5.3M
Avg Client AUM
$2.9B
High Net Worth AUM
545
Number of High Net Worth Clients
$1M
Min Client Size
#33 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$4.5M
Avg Client AUM
$616M
High Net Worth AUM
136
Number of High Net Worth Clients
$1M
Min Client Size
#34 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$5.7M
Avg Client AUM
$1.7B
High Net Worth AUM
302
Number of High Net Worth Clients
Not Available
Min Client Size
Ranked #226 by Forbes 2025
#35 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$7.7M
Avg Client AUM
$1.1B
High Net Worth AUM
140
Number of High Net Worth Clients
Not Available
Min Client Size
#36 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,000
Annual Fee on $2M
1.00%
Fee Rate on $2M
$1.2M
Avg Client AUM
$562M
High Net Worth AUM
451
Number of High Net Worth Clients
$1.5M
Min Client Size
#37 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,420
Annual Fee on $2M
1.02%
Fee Rate on $2M
$2.9M
Avg Client AUM
$965M
High Net Worth AUM
335
Number of High Net Worth Clients
$250,000
Min Client Size
#38 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,500
Annual Fee on $2M
1.02%
Fee Rate on $2M
$3.5M
Avg Client AUM
$594M
High Net Worth AUM
171
Number of High Net Worth Clients
$1M
Min Client Size
#39 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$20,625
Annual Fee on $2M
1.03%
Fee Rate on $2M
$1.2M
Avg Client AUM
$2.3B
High Net Worth AUM
1,909
Number of High Net Worth Clients
Not Available
Min Client Size
#40 Lowest-Fee RIA in Massachusetts for $2M Portfolios

Grimes & Company

Westborough, MA
View Profile
$21,250
Annual Fee on $2M
1.06%
Fee Rate on $2M
$2.8M
Avg Client AUM
$4.9B
High Net Worth AUM
1,783
Number of High Net Worth Clients
$500,000
Min Client Size
#41 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$21,250
Annual Fee on $2M
1.06%
Fee Rate on $2M
$4.9M
Avg Client AUM
$17.3B
High Net Worth AUM
3,545
Number of High Net Worth Clients
$500,000
Min Client Size
Ranked #29 by Barron's 2025 Ranked #20 by Forbes 2025
#42 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$21,250
Annual Fee on $2M
1.06%
Fee Rate on $2M
$2.4M
Avg Client AUM
$1.1B
High Net Worth AUM
483
Number of High Net Worth Clients
$1M
Min Client Size
#43 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$22,000
Annual Fee on $2M
1.10%
Fee Rate on $2M
$4.7M
Avg Client AUM
$7.0B
High Net Worth AUM
1,488
Number of High Net Worth Clients
$750,000
Min Client Size
Ranked #94 by Barron's 2025 Ranked #88 by Forbes 2025
#44 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$22,000
Annual Fee on $2M
1.10%
Fee Rate on $2M
$3.6M
Avg Client AUM
$518M
High Net Worth AUM
144
Number of High Net Worth Clients
Not Available
Min Client Size
#45 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$22,500
Annual Fee on $2M
1.12%
Fee Rate on $2M
$1.9M
Avg Client AUM
$1.4B
High Net Worth AUM
741
Number of High Net Worth Clients
$400,000
Min Client Size
#46 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$22,500
Annual Fee on $2M
1.12%
Fee Rate on $2M
$1.9M
Avg Client AUM
$1.2B
High Net Worth AUM
636
Number of High Net Worth Clients
$500,000
Min Client Size
#47 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$22,500
Annual Fee on $2M
1.12%
Fee Rate on $2M
$1.3M
Avg Client AUM
$72.6B
High Net Worth AUM
54,818
Number of High Net Worth Clients
$250,000
Min Client Size
#48 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$24,000
Annual Fee on $2M
1.20%
Fee Rate on $2M
$4.2M
Avg Client AUM
$2.2B
High Net Worth AUM
530
Number of High Net Worth Clients
Not Available
Min Client Size
#49 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$5.4M
Avg Client AUM
$2.0B
High Net Worth AUM
366
Number of High Net Worth Clients
$1M
Min Client Size
#50 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$5.7M
Avg Client AUM
$4.4B
High Net Worth AUM
779
Number of High Net Worth Clients
$2M
Min Client Size
#51 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$18.1M
Avg Client AUM
$9.4B
High Net Worth AUM
519
Number of High Net Worth Clients
Not Available
Min Client Size
#52 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$2.8M
Avg Client AUM
$724M
High Net Worth AUM
263
Number of High Net Worth Clients
$350,000
Min Client Size
#53 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$2.4M
Avg Client AUM
$580M
High Net Worth AUM
245
Number of High Net Worth Clients
$1M
Min Client Size
#54 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$25,000
Annual Fee on $2M
1.25%
Fee Rate on $2M
$3.5M
Avg Client AUM
$1.3B
High Net Worth AUM
355
Number of High Net Worth Clients
$2M
Min Client Size
#55 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$27,500
Annual Fee on $2M
1.38%
Fee Rate on $2M
$3.0M
Avg Client AUM
$798M
High Net Worth AUM
263
Number of High Net Worth Clients
Not Available
Min Client Size
#56 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$28,000
Annual Fee on $2M
1.40%
Fee Rate on $2M
$4.2M
Avg Client AUM
$813M
High Net Worth AUM
194
Number of High Net Worth Clients
$400,000
Min Client Size
#57 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$3.3M
Avg Client AUM
$663M
High Net Worth AUM
201
Number of High Net Worth Clients
Not Available
Min Client Size
#58 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$2.6M
Avg Client AUM
$941M
High Net Worth AUM
362
Number of High Net Worth Clients
Not Available
Min Client Size
#59 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$4.0M
Avg Client AUM
$13.0B
High Net Worth AUM
3,257
Number of High Net Worth Clients
$1M
Min Client Size
Ranked #67 by Barron's 2025
#60 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$2.3M
Avg Client AUM
$531M
High Net Worth AUM
236
Number of High Net Worth Clients
Not Available
Min Client Size
#61 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$3.8M
Avg Client AUM
$1.1B
High Net Worth AUM
303
Number of High Net Worth Clients
Not Available
Min Client Size
#62 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$1.2M
Avg Client AUM
$2.2B
High Net Worth AUM
1,889
Number of High Net Worth Clients
$50,000
Min Client Size
#63 Lowest-Fee RIA in Massachusetts for $2M Portfolios

Msa Financial

Braintree, MA
View Profile
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$2.3M
Avg Client AUM
$1.1B
High Net Worth AUM
474
Number of High Net Worth Clients
Not Available
Min Client Size
#64 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$3.3M
Avg Client AUM
$1.1B
High Net Worth AUM
344
Number of High Net Worth Clients
Not Available
Min Client Size
#65 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$30,000
Annual Fee on $2M
1.50%
Fee Rate on $2M
$15.7M
Avg Client AUM
$1.7B
High Net Worth AUM
108
Number of High Net Worth Clients
Not Available
Min Client Size
#66 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$38,000
Annual Fee on $2M
1.90%
Fee Rate on $2M
$4.6M
Avg Client AUM
$1.6B
High Net Worth AUM
347
Number of High Net Worth Clients
$1M
Min Client Size
#67 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$39,375
Annual Fee on $2M
1.97%
Fee Rate on $2M
$2.6M
Avg Client AUM
$108.7B
High Net Worth AUM
41,874
Number of High Net Worth Clients
$25,000
Min Client Size
#68 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$3.3M
Avg Client AUM
$606M
High Net Worth AUM
183
Number of High Net Worth Clients
Not Available
Min Client Size
#69 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$2.0M
Avg Client AUM
$563M
High Net Worth AUM
282
Number of High Net Worth Clients
$500,000
Min Client Size
#70 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$8.4M
Avg Client AUM
$877M
High Net Worth AUM
105
Number of High Net Worth Clients
Not Available
Min Client Size
#71 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$7.7M
Avg Client AUM
$3.6B
High Net Worth AUM
474
Number of High Net Worth Clients
Not Available
Min Client Size
Ranked #44 by Forbes 2025
#72 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$2.4M
Avg Client AUM
$886M
High Net Worth AUM
371
Number of High Net Worth Clients
Not Available
Min Client Size
#73 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$40,000
Annual Fee on $2M
2.00%
Fee Rate on $2M
$3.4M
Avg Client AUM
$2.5B
High Net Worth AUM
743
Number of High Net Worth Clients
Not Available
Min Client Size
Ranked #86 by Forbes 2025
#74 Lowest-Fee RIA in Massachusetts for $2M Portfolios
$45,000
Annual Fee on $2M
2.25%
Fee Rate on $2M
$1.4M
Avg Client AUM
$13.1B
High Net Worth AUM
9,250
Number of High Net Worth Clients
Not Available
Min Client Size
Disclaimer: Fee calculations are based on the most recently published SEC Form ADV Part 2A filings. Actual fees may vary based on account size, relationship, and negotiation. This is not investment advice.