Endurance Wealth Management says its firm name comes from Alfred Lansing’s book, “Endurance: Shackleton’s Incredible Voyage.” The firm believes its approach reflects the principles of teamwork, commitment and leadership that were demonstrated in the book.
Endurance Wealth Management is a registered investment advisor (RIA) overseeing more than a billion in client assets. The firm offers customized portfolio management solutions. It made both our lists of the top financial advisor firms in Providence, Rhode Island and the top finanical advisors in Rhode Island.
Endurance Wealth Management Background
Endurance Wealth Management can trace its roots back to 1997, when it formed as the Providence branch of an investment firm. In 2009, the firm became independent.
J. Michael Costello, its owner, has been active in the investment management industry for more than 30 years. He leads a team that includes a chartered financial analyst (CFA) and one certified financial planner (CFP).
Endurance Wealth Management Client Types and Minimum Account Sizes
The firm provides investment advice to high-net-worth individuals and families, entrepreneurs, pension and profit-sharing plans, trusts, estates, charitable organizations and businesses.
To establish a relationship with Endurance Wealth Management, you generally need a minimum account size of $1 million. The firm may occasionally accept accounts with less than $1 million in total asset value.
Services Offered by Endurance Wealth Management
Endurance Wealth Management helps clients meet investment objectives by designing what it calls, "Client Investment Profiles." These profiles outline strategies for income, liquidity and tax management needs. The firm may alter these strategies in response to changes in a client’s financial profile or long-term goals.
In addition to portfolio management, Endurance can provide financial planning in certain circumstances and also publishes periodicals/newsletters.
Endurance Wealth Management Investment Philosophy
The firm’s investment committee makes decisions based on a client’s risk tolerance, long-term goals and other factors. Depending on this data, the firm may build portfolios with such securities as:
Endurance Wealth Management's research team analyzes the global economic, financial and political landscape to identify favorable securities and make investment recommendations.
Fees Under Endurance Wealth Management
Endurance Wealth Management charges annual management fees that are based on percentages of your account balance. The firm’s current tiered fee schedule is as follows:
|Asset-based Fee||Account Size|
|1.00%||On the next $2MM|
|0.80%||On the next $2MM|
|Negotiable||More than $5MM|
Fees for accounts with $5 million or more are negotiable. So are fees for financial planning services and assets managed on a non-discretionary basis.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Endurance Wealth Management*|
|Your Assets||Endurance Wealth Management Fee Amount|
What to Watch Out For
Endurance Wealth Management has not been the subject of any disciplinary, criminal or civil legal action within the past 10 years. For the latest information, check out the firm’s Form ADV on the official website of the Securities Exchange Commission (SEC).
While Endurance Wealth Management provides financial planning services under certain circumstances, most of its advisory team’s time is spent managing investments. You may want to look elsewhere if you’re looking for advice on specific topics like retirement planning or estate planning.
Opening an Account With Endurance Wealth Management
If you'd like to set up an account with Endurance Wealth Management, you can visit the firm's Providence office or you can contact a financial advisor at (401) 854-0993.
Tips for Finding the Right Financial Advisor
- Don’t sign up with the first advisor you meet. Talk to at least three to make sure your decision is informed. To find more suitable candidates, use SmartAsset's advisor matching tool. It recommends up to three advisors.
- To get an even better sense of fees and services available in your state, check out our roundup of the top financial advisors in Rhode Island.
All information was accurate as of the writing of this article.