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Beaumont Financial Partners Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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
  • Individual retirement accounts (IRAs)
  • Pension, profit-sharing and retirement plans
  • Corporations, nonprofits and college endowments
  • Unaffiliated RIAs and broker-dealers
  • Trust companies
  • Wrap programs and platforms
  • Collective investment funds (CIFs)

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 0.5% to 1% 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.

While Beaumont Financial Partners doesn’t publish its account minimum, it states that it works primarily with affluent individuals and families. So depending on your asset level, this firm may not be the right fit for you.

How to Open 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.

Tips for Finding the Right Financial Advisor

  • Wouldn't quite describe yourself as affluent? There are plently of financial advisors who would be happy to work with you. To find one near you, use our free advisor matching tool. Based on your answers to a handful of questions, we'll connect you with up to three local advisors. Get started now.
  • Know the difference between fee-only and fee-based advisors. The latter may earn commissions from third-party vendors for selling their products. This may present a potential conflict of interest. On the other hand, fee-only advisors receive clients' fees as their only form of compensation.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research