Finding the Top Financial Advisor Firms in Concord, MA
It may be challenging to find a financial advisor in Concord, Massachusetts. The search can involve a lot of phone calls and research into complex documents filled with financial jargon. But don’t worry. We did the hard work for you. We conducted in-depth research on such key factors as account minimums, services offered and the qualifications of the advisors they employ. Read on for the top six financial advisor firms in the area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Twelve Points Wealth Management Find an Advisor||$352,040,659||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Monument Group Wealth Advisors Find an Advisor||$276,909,117||$1 million|| || |
Minimum Assets$1 million
|3||Thompson Wealth Management Find an Advisor||$266,586,966||$750,000|| || |
|4||Darrow Wealth Management Find an Advisor||$165,778,471||$500,000|| || |
|5||Concordia Wealth Management Find an Advisor||$144,180,766||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Craig Duvarney, CFP Find an Advisor||$134,761,367||$750,000|| || |
How We Found the Top Financial Advisor Firms in Concord, MA
We began by compiling data on all financial advisor firms based in Concord, Massachusetts and registered with the Securities and Exchange Commission (SEC). We then removed firms that have faced disciplinary action within the past 10 years. We also eliminated advisory groups that did not provide financial planning or whose client base was less than 50% individual accounts. Finally, we ranked what was left on the list, from largest to smallest, based on assets under management.
Twelve Points Wealth Management
Twelve Points Wealth Management is a fee-based financial advisor managing more than $352 million in assets. Clients of the firm are mostly non-high-net-worth individuals, with around a dozen high-net-worth clients as well. Institutional clients include pooled investment vehicles, pension and profit sharing plans and charitable organizations.
There are five advisors on staff. That includes four accredited financial planners (AIFs), two certified financial planners (CFPs), one chartered advisor in philanthropy (CAP), one certified divorce financial analyst (CDFA), one certified plan fiduciary advisor (CPFA) and one certified private wealth advisor (CPWA). The firm does not provide a minimum account size.
Fees for investment management are based on a percentage of assets under management and are generally bundled with broker-dealer, custodial and clearing expenses through a wrap fee. Financial planning services are either billed at a flat rate, generally $2,500, or billed hourly for between $400 and $1,000. Some advisors may earn commissions for selling insurance or securities. This is a conflict of interest, but advisors must act in your best interest when serving in an advisory capacity.
Twelve Points Wealth Management Background
The firm was founded in 2014. The principals are Francesca Federico and Manny Frangiadakis, while the third co-founder Dave Clayman serves as CEO.
The firm’s services include investment management, financial planning, portfolio management and retirement plan advising.
Twelve Points Wealth Management Investment Strategy
Advisors at Twelve Points use charting, fundamental and technical analysis to build client portfolios. They tend to use a tactical asset-allocation strategy, which generally means investing in a mix of stocks, bonds, life insurance, annuities and options-securities.
Monument Group Wealth Advisors
Monument Group Wealth Advisors has two advisors on staff, a small team that includes one chartered financial advisor (CFA) and one certified financial planner (CFP), plus a tax expert who is an enrolled agent (EA).
The firm manages more than $276 million. Clients are mostly high-net-worth individuals, with just around 20% of individual clients not clearing the high-net-worth hurdle. There are no institutional clients at the firm.
Monument Group is a fee-only firm, so you won’t pay any commissions to the advisors. Fees for wealth management and investment management are generally based on a percentage of assets under management while fees for financial planning are fixed. The minimum account size is $1 million.
Monument Group Wealth Advisors Background
The firm was founded in 2001. It is owned by Byron E. Woodman, Jr., who serves as president, and Lee C. McGowan, who serves as managing director and chief compliance officer.
The firm’s services include wealth management, financial planning, document management, family office services, investment management, investment planning, retirement planning, personal savings and education savings.
Monument Group Wealth Advisors Investment Strategy
Long-term investment is the preferred strategy for Monument Group’s advisors. A number of sources of information help them make decisions, including third-party research, internet sources and reviews of company materials. No-load mutual funds and ETFs are the primary securities in which advisors invest.
Thompson Wealth Management
Thomson Wealth Management is a fee-only firm managing more than $266 million for its clients. That client list includes mostly high-net-worth clients, plus some other individual clients. Institutional clients include pension and profit sharing plans and corporations.
There are two advisors on the team, neither of which lists any major certifications. There is a minimum account size of $750,000 for clients at the firm.
Fees at TWM are based on a percentage of assets under management for personal financial management, which combines investment management and financial planning. You can also pay an asset based fee for investment management alone or an hourly rate for just financial planning.
Thomson Wealth Management, Ltd. Background
Bruce Thomson founded the firm in 1991.
The services clients are offered include investment management and financial planning, either separately or integrated.
Thomson Wealth Management, Ltd. Investment Strategy
TWM believes in creating and managing a portfolio for each client based on their planning objectives, values and risk tolerance. This includes creating a margin of safety for each client, helping protect against unexpected downturns and investment issues. Asset allocation and diversification are key. Most clients have index funds as their core investments.
Darrow Wealth Management
Darrow Wealth Management is a fee-only firm with more than $165 million in assets under management. The firm has a healthy business with both high-net-worth and other individuals, though more clients are not high-net-worth. The only institutional client on the rolls is a pooled investment vehicle.
The firm has four advisors on staff. The team includes three certified financial planners (CFPs) and one chartered financial advisor (CFA). There is a minimum account size of $500,000.
Financial planning and consulting fees are charged on a fixed or hourly rate. Investment management fees are based on a percentage of assets under management.
Darrow Wealth Management Background
DWM was founded in 1991. The principal owner is Thomas McFarland.
The firm’s services include financial modeling, consulting, investment management, retirement plan consulting, financial planning, tax planning, estate planning and trust management.
Darrow Wealth Management Investment Strategy
Advisors at DWM use an asset-allocation model that separates equities into asset classes, market sectors, market caps and styles. Each of them is given an asset allocation percentage based on the firm’s global macroeconomic analysis. Passive mutual funds and low-cost exchange traded funds (ETFs) are the most popular investments for clients at the firm.
Concordia Wealth Management
Concordia Wealth Management is a fee-only firm with two advisors on staff. The firm does not provide a list of advisors with their certifications -- in fact, it doesn’t even have a web site.
The firm has more than $144 million in assets under management. Around 75% of the individual clients Concordia serves are high-net-worth. The only institutional clients it has are corporations.
The firm is fee-only, meaning advisors do not earn commissions. Financial planning services are paid with a flat fee, while investment advisor fees are based on a percentage of assets under management.
Concordia Wealth Management, LLC Background
Concordia was founded in 2012. The sole owner is Robert Rodriguez.
The firm’s services include financial planning, retirement review, insurance review, education planning, investment advisory and family office services.
Concordia Wealth Management, LLC Investment Strategy
Advisors at Concordia base their decisions around fundamental analysis, which measures the intrinsic value of a security through analyzing economic and financial factors. Assets and investments are chosen based on return, risk and the time horizon each client favors. Investments include mutual funds, separately managed accounts and exchange-traded funds (ETFs).
Craig Duvarney, CFP
The final firm on this list is Craig Duvarney, CFP. As you might expect, this firm has just one advisor, Craig Duvarney, who is a certified financial planner (CFP).
Duvarney manages more than $134 million. His clients include a fairly even mix of high-net-worth and other individual clients. There are no institutional clients.
Fees for asset management are based on a percentage of assets under management. Financial planning fees are fixed. Duvarney is also an insurance agent and may earn commissions. This is a conflict of interest, but he must act in your best interest when serving as an advisor.
Craig Duvarney, CFP Background
Craig Duvarney’s sole proprietorship has been in business since 2003. It switched its registration from the state of Massachusetts to the SEC in 2017.
Services include asset management, retirement plan consulting, financial planning services, tax planning analysis, estate planning analysis, business planning, retirement planning, education planning, budgeting and investment analysis.
Craig Duvarney, CFP Investment Strategy
Duvarney uses economic analysis to determine economic trends and makes investment choices based on that analysis. Mutual funds and exchange-traded funds are the principal investments the firm makes with client money. A small amount of money, around 1%, is invested in stocks, and 3% is held as cash or cash equivalents.