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, consider SmartAsset's free financial advisor matching tool to connect with up to three advisors who serve your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 |
The Financial Advisors, LLC
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$974,763,481 | $50,000 |
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Minimum Assets$50,000Financial Services
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| 2 |
Cox Capital Management, LLC
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$286,036,701 | No set account minimum |
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Minimum AssetsNo set account minimumFinancial Services
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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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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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Age of FirmFirms that have been in business longer 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-based firm 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 team holds multiple financial certifications, including the the certified financial planner (CFP), certified public accountant (CPA), personal financial specialist (PFS), chartered retirement planning counselor (CRPC) and enrolled 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 funds and 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.
CCM doesn’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 strategies are generally long-term focused, but the firm may also use alternative investments like hedge funds, private equity and venture capital.
