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
- 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.
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