Loading
Tap on the profile icon to edit
your financial details.

Congress Asset Management Review

Your Details Done
by Updated
Congress Asset Management

Congress Asset Management Company is a fee-based financial advisor based in Boston. The firm works with both individuals and institutional investors. It has more than 20 advisors on staff and manages more than $7.1 billion.

Congress Asset Management Company, LLP Background

Congress Asset was founded in 1985. It is owned by Lagan Holding Company Trust and Lagan-Congress, Inc., both of whom are general partners. Lagan Holding Company Trust also owns 100% of Lagan-Congress, Inc.

What Types of Clients Does Congress Asset Management Company, LLP Accept?

The firm works mostly with individual investors, less than half of whom are considered high-net-worth. It also works with institutional clients including banking or thrift institutions, investment companies, pension and profit sharing plans, charitable organizations, state or municipal government entities, insurance companies and corporations. 

Congress Asset Management Company, LLP Minimum Account Sizes

The minimum account size at Congress Asset is generally $100,000.

Services Offered by Congress Asset Management Company, LLP 

Services offered by Congress Asset include:

  • Discretionary investment management services
  • Model portfolio investment management
  • A variety of investment strategies
  • Separately managed accounts
  • Mutual fund portfolio management
  • Subadvisory services
  • Private equity
  • Portfolio strategy
  • Asset allocation
  • Construction advice

Investment Philosophy

Advisors at Congress Asset Management use various analytical frameworks to put together portfolios for clients. Fundamental analysis is the main method used for equities, while both top down and bottom up analyses are used for fixed-income investments. Long-term investments are favored, and the firm’s documents make a point of identifying the advisors at the firm as investors rather than traders.

Fees Under Congress Asset Management Company, LLP 

Fees at the firm depend on the service used. Discretionary asset management is charged a fee based on a percentage of assets under management between 0.10% and 1.00%. For model portfolio management the fee ranges from 0.20% to 0.50% of assets under management. 

Mutual fund portfolio management fees are as follows:

  • Congress Large Cap Growth Fund: 0.50% per annum
  • Congress Mid Cap Growth Fund: 0.60% per annum
  • Congress Small Cap Growth Fund: 0.85%

Fees for subadvisory services are negotiable. Fees for private equity limited partnerships are up to 0.50% on client investment yearly. The firm may use performance-based fees, but it generally does not. 

Some advisors at the firm are also registered with a broker-dealer and may earn commissions for selling securities. This is a potential conflict of interest explained more fully below.

What to Watch Out For

As noted above, some advisors at the firm are also broker-dealers and may earn commissions for selling securities. This presents a possible conflict of interest, as there may be incentive for that advisor to sell securities with a higher commission, even if it is not the best choice for the investor. Still, when acting as an advisor all are required to act in the best interest of the client.

Disclosures

The firm has no disclosures on the record for the past 10 years.

Where Is Congress Asset Management Company, LLP  Located?

Congress Asset is headquartered at 2 Seaport Lane 5th Floor Boston, Massachusetts 02210.

Opening an Account With Congress Asset Management Company, LLP  

To open an account you can fill out this page or call (800) 234-4516

Tips for Investment

  • An advisor can clear up any investing questions you have. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • If your golden years are what you are planning for, you should make sure you use SmartAsset’s free retirement calculator to see how much you’ll need and if you are on pace.

All information was accurate as of the writing of this article. 

How Many Years $1 Million 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 To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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