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Flagship Harbor Advisors 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.

Based in Boston, Flagship Harbor Advisors delivers investment management and financial planning services to individuals, retirement plans and more. The firm is quite large in terms of both the quantity of assets it manages and the number of advisors it employs. The firm is affiliated with LPL Financial, which employs advisors throughout the country.

This is a fee-based firm, which means it earns its compensation both from its clients and from third-party income, like insurance commissions. A fee-only firm, on the other hand, avoids this third-party compensation, instead earning all of their income from client-paid fees.

Flagship Harbor Advisors Background

Flagship Harbor Advisors opened its doors in 2010. David Kaufman is the principal owner. Advisors at the firm and its affiliates throughout the country have several industry certifications. These include certified financial planner (CFP), chartered financial consultant (ChFC), chartered financial analyst (CFA), chartered retirement planning counselor (CRPC), certification in long-term care (CLTC) and more.

Flagship Harbor Advisors Client Types and Minimum Account Sizes

Flagship Harbor Advisors works almost entirely with individuals above and below the high-net-worth threshold, pension and profit-sharing plans, trusts, estates and businesses. Flagship Harbor Advisors doesn’t set an account minimum. However, the money managers and other firms its affiliated with may recommend their own minimum requirements for services. 

Services Offered by Flagship Harbor Advisors 

You can hire Flagship Harbor Advisors to manage your assets on a discretionary or non-discretionary basis. The latter means you have more control in regard to investment decisions, while the former means the firm manages your assets as it sees fit based on your risk tolerance and goals. The firm can also recommend outside money managers and financial services firms to provide investment advice. 

If you need general financial planning advice, Flagship Harbor Advisors offers guidance on: 

  • Business planning
  • Investments
  • Insurance
  • Retirement
  • Education
  • Estate planning
  • Tax and cash flow management

Flagship Harbor Advisors Investment Philosophy

The firm and its recommended affiliates consider several personal factors such as the client’s risk tolerance, financial situation and visions for the future in order to design a proper asset allocation for a portfolio. 

When choosing securities to implement an asset allocation, Flagship Harbor Advisors generally relies on fundamental and technical analysis. Fundamental involves studying a company's financial information to measure the intrinsic value of its stock. Technical analysis is looking at previous stock price patterns to determine what prices may look like in the future. 

The firm may also employ these investing strategies: 

  • Long-term purchases: securities held at least a year
  • Short-term purchases: securities sold within a year

Fees Under Flagship Harbor Advisors 

Flagship Harbor Advisors charges fees based on a percentage of assets under management (AUM), as a fixed price or on an hourly basis. Asset-based fees range  from 0.25% and 2.00%.

The firm offers a wrap-fee program, where clients pay one bundled fee that covers trade execution, custody, reporting and investment management fees. Flagship Harbor Advisors keeps the investment management portion of the wrap fee. Note that the wrap fee may end up being higher than total fees would have been if they had been charged individually. So it’s important to consider which fee structure would work best for you. 

What to Watch Out For

Flagship Harbor Advisors has reported two regulatory disclosures on its SEC-filed Form ADV. Each of these are attributed to the firm directly, with both being because the firm failed to register an individual as an IAR. These disclosures each resulted in various fines.

Some representatives of Flagship Harbor Advisors are representative of broker-dealers or affiliated with other financial services firms like insurance companies. In these capacities, they may earn commissions from third parties. This can create a potential conflict of interest. That said, Flagship Harbor Advisors follows a fiduciary standard and its advisors must provide investment recommendations solely in your best interest.

Opening an Account With Flagship Harbor Advisors

To have a representative for Flagship Harbor Advisors reach out to you, fill out the contact form on the firm's website. You can also call the firm directly at (857) 350-4229.

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

Tips for Finding the Right Financial Advisor

  • If you don't know where to begin looking for a financial advisor, expand your search. Finding a qualified financial advisor 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.
  • Ask candidate advisors how many times a year they will we go over your account with you. The correct answer depends on your expectations, of course. But once or twice a year should be the minimum.

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.

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