On the Financial Times "300 List" for the top financial advisors in 2018, 2019 and 2020, Beaumont Financial Partners oversees billions in client assets. Offering wealth management, family office and tax preparation services, the Needham, Massachusetts firm primarily serves affluent individuals and families, small businesses and select institutions. Its team of financial advisors features certified financial planners (CFPs), certified public accountants (CPAs), certified divorce financial analysts (CDFAs) and more qualified professionals.
Beaumont Financial Partners also holds a spot on SmartAsset's list of the top financial advisors in Needham.
Beaumont Financial Partners Background
Beaumont Financial Partners has been providing financial services since 1999. Managing owners of the firm include Thomas J. Cahill, Lawrence A. Fiore, Philip Dubuque, James Oates and Richard Burnes, Jr. All of these men still work at Beaumont.
In 2009, the firm established a separate division called Beaumont Capital Management to deliver investment advisory services through a series of rules-based strategies utilizing long-only exchange-traded funds (ETFs).
Beaumont Financial Partners Client Types and Minimum Account Sizes
Beaumont Financial Partners works with numerous types of clients including:
- Individuals and families
- Trusts and estates
- Pension, profit-sharing and retirement plans
- Corporations, nonprofits and college endowments
- Unaffiliated RIAs and broker-dealers
The firm doesn't publish its minimum asset requirements, but does note that accounts may be combined for families to help them meet any account size requirements.
Services Offered by Beaumont Financial Partners
Beaumont Financial Partners specializes in providing investment advisory services. The firm's advisors meet with clients to gather information about their financial goals and risk tolerance to design asset allocations or choose from its suite of six portfolios that each have varying levels of risk tolerance. The firm continuously monitors client accounts and makes adjustments as needed.
Advisors also offer financial planning, tax preparation, accounting and alternative investment research services. Additionally, they may work with other investment advisors to manage their wrap fee programs, act as sub-advisor and more.
Beaumont Financial Partners Investment Philosophy
Beaumont Financial Partners invests client assets in individual stocks and bonds, mutual funds, exchange-traded funds (ETFs), and other types of securities in accordance with the client’s risk tolerance and other factors. When designing portfolios, the firm categorizes securities using The Dominant Benefit Theory of Investing. These categories, listed below, take more factors into account than the commonly used stock-bond-cash breakdown:
- Safety
- Income
- Equity income
- Growth
- Aggressive growth
As noted earlier, Beaumont Financial Partners also offers model portfolios that can each be calibrated for different risk levels. Generally, they are all meant for long-term strategic investing, though the firm may shift to an even more conservative approach under certain market conditions. For accounts smaller than $150,000, advisors may recommend models that use mutual funds and/or ETFs only.
Fees Under Beaumont Financial Partners
Beaumont Financial Partners generally charges annual investment management fees as a percentage of assets under management. These fees typically range from 0.50% to 1.00% depending on the asset classes you’re invested in, the size of your account and other factors.
The firm charges additional fees for tax preparation and accounting services. The extent of these fees varies based on the complexity of your situation.
What to Watch Out For
According to its Form ADV, Beaumont Financial Partners has not been the subject of any legal or disciplinary matters deemed material to a potential client’s evaluation of the firm’s integrity as a business.
Opening an Account With Beaumont Financial Partners
To contact Beaumont Financial Partners about opening an account, call (781) 400-2800 or email info@bfpartners.com.
All information was accurate as of the writing of this article.
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