Finding a Top Financial Advisor Firm in Framingham, Massachusetts
Whether you want help managing your investments, planning for retirement, creating a college savings fund for your children or anything in between, a financial advisor can assist you. For residents of Framingham, Massachusetts, and surrounding areas, SmartAsset created the list below to help you choose a financial advisor that's best suited to help you. If you'd rather not spend time sifting through potential options, SmartAsset's free matching tool can connect you with advisors who serve your area.
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What We Use in Our Methodology
To find the top financial advisors in Framingham, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
TSW Wealth Management
TSW Wealth Management, the top-rated financial advisory firm in Framingham, works primarily with individuals, both above and below the high-net-worth threshold. TSW imposes a minimum investment requirement of $1 million, though the firm reserves the right to modify this stipulation.
As a fee-based firm, some of TSW's advisors are also registered insurance representatives or broker-dealers. These advisors therefore may receive commissions for selling insurance, securities or other financial products to clients. While this is a potential conflict of interest, as a registered fiduciary TSW is legally obligated to act in the best interests of clients at all times.
The firm's two-person advisory team has a number of financial certifications. Both advisors are certified financial planners (CFP), while one of the advisors also holds the chartered financial consultant (ChFC) and chartered life underwriter (CLU) designations.
TSW Wealth Management Background
TSW Wealth Management was founded as Wells Financial Advisors in 1996. The firm provides portfolio management and financial planning services, including retirement planning, estate planning and more. The scope of services may be as broad or as narrow as agreed upon between the firm and the client.
Terry and Sarah Wells are the firm's two owners and the only financial advisors on staff. Terry Wells serves as managing principal, while Sarah Wells serves as a principal.
TSW Wealth Management Investment Strategy
TSW Wealth Management tailors its investment strategies to the personal needs of clients. Advisors work with each individual to create an appropriate portfolio allocation based on their risk tolerance and financial situation. Advisors then build client portfolios using a combination of mutual funds and exchange-traded funds (ETFs), but not individual stocks and bonds. However, the firm may advise on individual securities that are already in client portfolios.
While the firm generally adheres to a long-term investing approach, it may invest on a more short-term basis as it aligns with the objectives of the client or current market conditions. Advisors primarily take advantage of fundamental methods of analysis when it comes to developing investment strategies, meaning they look to assess the intrinsic value of an investment by studying macroeconomic factors and the fundamentals of the company or fund.
Woodside Wealth Management
Woodside Wealth Management is a financial advisory firm that serves individual clients, about two-thirds of whom have a high net worth. The firm is also open to working with corporations and other business entities. You'll need at least $500,000 in investable assets to open an account with Woodside Wealth Management.
This is a fee-only firm that only receives advisory fees from clients. Its advisors do not sell insurance or other products to clients on a commission basis. Woodside's fees for investment manage are solely based on a percentage of a client's assets under management, while it offers standalone financial planning that's charged at a rate of $350 per hour.
Woodside's team includes three certified financial planners (CFPs).
Woodside Wealth Management Background
Cheryl Costa established Woodside Wealth Management in 2015 and remains the sole owner of the firm. Woodside offers comprehensive investment portfolio management, as well as financial planning services. Financial planning can be broad or specific, depending on the needs of the client.
Woodside manages most of its assets on a discretionary basis, meaning its advisors make all portfolio-related decisions.
Woodside Wealth Management Investment Strategy
Woodside's investment strategies are tailored to the financial needs and objectives of each of its clients. Through a series of personal discussions, the firm learns about clients' individual risk tolerance, liquity needs, time horizon and more so it can develop an effective investment plan. While advisors make the majority of investment decisions, clients can have some say in how their money is managed or what types of securities the firm uses.
The firm is a believer in modern portfolio theory, which means it looks to diversify and allocate assets with the goal of minimizing risk and maximizing returns for a given risk level. Specific methods of analysis used by the firm and its advisors to inform investment decisions include charting, technical and fundamental analysis.
Polaris Advisors, LLC
Polaris Advisors, the final firm on our list, requires a minimum investment of $100,000 for clients. While the firm's main business lies with its individual client base, the majority of these clients do not have high net worths. Other clients of the firm include charities.
As a fee-only firm, Polaris earns all of its income from client-paid fees that are based on a percentage of a client's assets under management.
The Polaris team features one chartered financial analyst (CFA).
Polaris Advisors Background
Fredric Weldon founded Polaris Advisors in 2003 and he remains the firm's president and sole financial advisor. Polaris Advisors mainly provides clients with both investment management and financial planning services.
The firm has an asset management program that covers a range of advisory services, with all offerings being customizable. In addition, financial planning services may include advice on issues such as retirement planning, personal savings, education planning and any other areas that a client would like addressed.
Polaris Advisors Investment Strategy
Polaris Advisors focuses on building investment portfolios that are based entirely on what a client wants to achieve through investing. The firm develops an ongoing relationship with each client in order to best determine their investment preferences and update them over time. By keeping track of each client's risk tolerance, time horizon, income needs and tax status, the firm and its advisors can adjust investment strategies to fit these changing needs.
Polaris and its advisors typically use mutual funds, exchange-traded funds (ETFs) and individual stocks to populate client portfolios. Clients are able to place some restrictions on the management of their assets, so advisors may use different mixes of investments for certain clients. Advisors primarily employ fundamental and cyclical methods of analysis when it comes to evaluating investments. They also tend to use a long-term approach to investing that relies on holding assets for longer than a year.