Though founder Bill Kelly passed away in 2017, Kelly Financial Services continues to be a family shop. His wife and co-founder, Kelly Kelly, leads the firm, and their daughter, Mary Madeline, works as a service advisor. Serving the greater Boston area, the firm is based in Braintree, Massachusetts, with a branch office in Burlington. The small team of advisors here manages a sizable pool of client assets.
As a fee-based firm, certain advisors here can sell insurance products on a commission basis. A fee-only firm, on the other hand, avoids these types of conflicts of interest.
Kelly Financial Services Background
Kelly and Bill Kelly started Kelly Financial Services in 2003. Four years in, Bill began hosting “Senior Safe Money Strategies,” a radio call-in show, which helped build Kelly Financial’s reputation among retirees.
Today, Kelly Kelly runs the company as sole owner, CEO and president. She also continues the radio show, which airs on Saturdays, from 9 am to 10 am, on WRKO 680-AM Boston - joined by journalist John Budris.
Kelly Financial Services Client Types and Minimum Account Sizes
Hosting educational workshops and monthly events for people approaching or in retirement, Kelly Financial specializes in serving seniors. In addition to individuals, the firm works with trusts and estates. The vast majority of clients are not high net worth.
The firm has no minimum account requirement. It does, however, have a $500 minimum annual fee, charged at $125 per quarter. All fees are negotiable and may be billed quarterly in arrears based on the end-of-period account balance.
Services Offered by Kelly Financial Services
Kelly Financial primarily manages investment portfolios on a discretionary basis, which means clients authorize it to change trade positions when it deems appropriate. The firm also offers annuities and other insurance products.
Kelly Financial Services Investing Philosophy
The firm primarily seeks growth while protecting capital. It's an active manager and will make tactical adjustments when economic conditions call for them. It formally reviews portfolios at least semi-annually, but checks asset allocations more frequently, particularly during volatile times. Using fundamental, technical and cyclical methods of analysis, the firm generally selects large-cap companies for equity investments and mutual funds containing investment-grade securities for fixed-income investments.
When it comes to annuities, the firm’s preference is for fixed index ones.
Fees Under Kelly Financial Services
Like most investment advisors, Kelly Financial collects management fees based on a percentage of the client’s assets under management (AUM). The percentage is negotiable, but will not exceed an annual rate of 1.5%, or 0.375% quarterly. As noted earlier, there is a minimum annual fee of $500 per year, which works out to $125 per quarter.
What to Watch Out For
Kelly Financial has no legal or regulatory disclosures listed on its SEC-filed Form ADV.
Also, some advisors are licensed insurance agents. They are bound by their fiduciary duty to recommend only what is in the client’s best interest, but the dual roles do present a potential conflict of interest that the client should be aware of.
Opening an Account With Kelly Financial Services
To contact Kelly Financial, call headquarters at (781) 849-3090 or send an email to firstname.lastname@example.org. Alternatively, you can request an appointment on its website.
All information is accurate as of the writing of this article.
Tips for Finding a Financial Advisor
- Knowing exactly what you need in a financial advisor can be tough, especially if you're considering firms that aren't as well known as others. Finding a qualified financial advisor doesn’t have to be hard, though. 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.
- Interview advisor candidates in person - or at least over the phone. It’s the best way to get a sense of how comfortable he or she makes you feel. After all, few things are more personal than your finances and you don’t want to feel self-conscious talking about your goals and dreams to the person who is supposed to help you realize them.