GW & Wade is a fee-based advisory firm that currently has billions in assets under management (AUM). As a fee-based firm, some advisors earn compensation both from the advisory services provided to clients and commissions for selling financial products.
The financial advisor’s staff of advisors includes professionals with the certified public accountant (CPA), certified financial planner (CFP), chartered financial analyst (CFA) and enrolled agent (EA) designations.
The firm's website says it offers a unique approach to tax planning and that its advisors counsel clients on tax topics and prepare their year-end tax returns.
GW & Wade Background
GW & Wade has been a registered investment advisor (RIA) since 1986. In 2007, the firm became an indirect, wholly-owned subsidiary of Focus Financial Partners, LLC.
While based in Wellesley, Massachusetts, GW & Wade also has offices in Palo Alto, California; Reston, Virginia; and Neeham, Massachusetts. The firm manages clients in both the U.S. and several other countries.
GW & Wade Client Types and Minimum Account Sizes
This firm serves individuals, high-net-worth individuals, pension and profit-sharing plans, charitable organizations, foundations, municipalities, corporations and other business entities.
GW & Wade doesn’t have a minimum account size requirement.
Services Offered by GW & Wade
GW & Wade specializes in the following advisory services:
- Portfolio management
- Financial planning
- Selection of other advisors
- Publication of periodicals or newsletters
- Educational seminars/workshops
- Income tax preparation
- Estate administration and consulting services
- Facilitating credit and cash management solutions
GW & Wade Investment Philosophy
GW & Wade says it assesses each client’s long-term goals, risk tolerance and financial resources before creating a customized portfolio allocation plan. The firm also aims to construct long-term-focused diversified portfolios. In determining the effectiveness of investment strategies, the firm measures performance and risk-based expenses and statistics.
GW & Wade primarily invests client assets in mutual funds but the firm may also invest in actively- or passively-managed exchange-traded funds that track indices of securities. The firm may also invest in individual equities and fixed-income securities. From time to time, advisors may rely on options or third-party separate account managers
Fees Under GW & Wade
GW & Wade offers the following fee schedule for its standard asset management services:
| GW & Wade Standard Asset Management Fee Schedule | |
| Amount of assets | Annual fee |
| First $750,000 | 1.70% |
| Next $250,000 | 1.45% |
| Next $1.5 million | 1.20% |
| Next $2.5 million | 1.00% |
| Above $5 million | 0.70% |
Here's a look at how much you can expect to pay in fees based on how much money you have under the firm's management:
| *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 GW & Wade* | |
| Your Assets | GW & Wade Fee Amount |
| $500K | $8,500 |
| $1MM | $16,375 |
| $5MM | $59,375 |
| $10MM | $94,375 |
What to Watch Out For
This firm has two regulatory action disclosures on its Form ADV. Most recently, in 2018, the firm paid a $50,000 fine for allegedly failing to make sure its advisors complied with Massachusetts registration requirements. The matter was also resolved through a cease and desist order, according to the firm's Form ADV.
Another thing worth noting about GW & Wade is that certain advisors can earn additional compensation from commissions and 12b-1 fees. This can create a conflict of interest if advisors push such products for personal gain even when they are not in the best interest of their clients. GW & Wade says it honors a fiduciary duty, but clients should keep these compensation arrangements in mind. Also keep in mind that when the firm's affiliated broker-dealer – GW & Wade Asset Management – receives a 12b-1 fee from an advisory client, the firm credits the client's account in the amount of the fee.
Opening an Account with GW & Wade
You can set up an account with GW & Wade by visiting any of the firm’s offices. You can also contact an advisor at (781) 239-1188.
All information is accurate as of the writing of this article.
Investing Tips for Beginners
- Before you begin investing, it’s wise to familiarize yourself with the different types of investments and investment platforms. Consider reading our guide on investing for beginners.
- A financial advisor can help you start your investing journey. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
