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Connecticut Wealth Management 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.

Connecticut Wealth Management is an SEC-registered financial advisor firm headquartered in Farmington, Connecticut. It generally provides holistic financial planning and investment guidance to individuals, businesses, non-profit organizations, trusts and estates. It also offers tax advice.

As a fee-based firm, certain advisors at Connecticut Wealth can receive commissions from the sale of third-party financial products. On the other hand, a fee-only firm avoids these commissions, only receiving client-paid fees as compensation.

Connecticut Wealth Management Background 

Connecticut Wealth Management emerged in 2010 under the guidance of CEO Kevin C. Leahy. The team of financial advisors at the firm includes certified financial planners (CFPs) and certified public accountants (CPAs).

As a fiduciary registered investment advisor (RIA), Connecticut Wealth Management is obligated by law to work in the client’s best interest. It runs one office headquartered in Farmington, Connecticut. 

Connecticut Wealth Management Client Types and Minimum Account Sizes

Connecticut Wealth Management mostly works with individuals, including high-net-worth ones. It also provides services to some pension and profit-sharing plans, as well as businesses of all sizes and some charitable organizations. 

To open an account through Connecticut Wealth Management, you'll typically need a minimum investment of $1 million. This requirement can be waived depending on the scope of the engagement. 

Services Offered by Connecticut Wealth Management

Connecticut Wealth Management offers comprehensive financial planning for individuals. The firm can assist clients in several aspects of their financial life, including the following: 

In addition, the firm provides customized investment management services. Connecticut Wealth Management advisors review each client’s financial situation and risk tolerance to determine recommendations on how to invest their assets. Connecticut Wealth Management typically builds portfolios utilizing no-load mutual funds, exchange-traded funds (ETFs), stocks, bonds, alternative investments and certificates of deposits.

From there, advisors may rebalance asset allocations and take other actions based on factors like market conditions. Connecticut Wealth Management may also recommend selling positions based on several factors including capital gains harvesting or risk to a particular asset class.

Connecticut Wealth Management Investment Philosophy

Connecticut Wealth Management aims to develop an investment strategy that caters to each client’s risk tolerance and financial goals. It devises asset allocations based on these factors and more. Research strategies may be influenced by various sources including but not limited to the following:

  • Third-party research material
  • Financial media findings
  • Annual reports
  • Prospectuses
  • Internet sources

Fees Under Connecticut Wealth Management

Connecticut Wealth Management works as a fee-based firm. Depending on what kind of services you receive, you may encounter fees based on a percentage of your assets under management (AUM) or on a fixed basis. Any client receiving investment advice will sign an Investment Advisory Agreement that explains these fees in detail. 

When you’re receiving investment advice from Connecticut Wealth Management, you will incur an Investment Advisory Fee based on a percentage of your AUM. This percentage gradually reduces as your assets climb past certain thresholds. The maximum account fee is 1.25%. This fee may be negotiable at the discretion of the Advisor. 

What to Watch Out For

There are no disclosures present on Connecticut Wealth Management's SEC-filed Form ADV.

Certain advisors at Connecticut Wealth Management may be able to earn commissions from the sale of securities, insurance or other financial products to clients. As a result, the firm is considered fee-based. These types of arrangements are also a potential conflict of interest. However, the firm is a fiduciary and is legally obligated to act in the best interests of clients at all times.

Opening an Account With Connecticut Wealth Management

You can open an account Connecticut Wealth Management by walking into the firm's office located in Farmington, Connecticut. You can also reach the firm over the phone at (860) 470-0290.

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

Tips on Working With a Financial Advisor

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Seek out fidicuary financial advisors. These firms and/or individuals are required by law to work in your best interest over personal gain.

How Long $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 We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.