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Loring Wolcott & Coolidge 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.

Loring, Wolcott & Coolidge Fiduciary Advisors, LLP

Loring, Wolcott & Coolidge Fiduciary Advisors, LLP (LWC) is a multi-family office firm that specializes in socially responsible investing. The firm also primarily serves high-net-worth individuals. 

LWC has billions in assets under management (AUM), and the fee-only firm serves both individual and institutional clients. When it comes to advisory fees, it charges asset-based fees and fixed fees. The firm’s staff of advisors includes several chartered financial analysts (CFAs).

LWC also appears on our top financial advisors lists for Boston and Massachusetts

Loring Wolcott & Coolidge Background

LWC was established in 1994 so that the trustees of Loring Wolcott & Coolidge Office could provide investment advice to trusts and other investment accounts. These trustees don’t act as fiduciaries for these accounts, so partners of the firm help to provide investment advice under a fiduciary obligation. 

LWC is owned by a group of 17 partners, none of whom own more than a 10% stake in the business. These partners include the trustees of the Loring, Wolcott & Coolidge Office, three former trustees and one former senior manager.

Loring Wolcott & Coolidge Client Types and Minimum Account Sizes

LWC serves high-net-worth individuals, pension and profit sharing plans, trusts, foundations, endowments and other entities. 

The firm imposes a minimum account size requirement of $2 million. 

Services Offered by Loring Wolcott & Coolidge

LWC's breadth of services includes portfolio management, family office services, estate planning and settlement, financial planning, tax planning and preparation as well as philanthropic strategies. 

Loring Wolcott & Coolidge Investment Philosophy 

LWC says in its brochure that it focuses on buying and holding high-quality growth stocks for the long term. The firm also believes that low turnover is crucial to producing after-tax returns on taxable accounts. LWC generally uses independent sub-advisors and internal research analysts to make investment selections. 

LWC invests in exchange-traded equity securities, non-exchange-traded equity securities, U.S. government bonds, securities issued by registered investment companies or business development companies, cash, cash equivalents and other investments. 

Loring Wolcott & Coolidge Fees

LWC charges both a principal fee and an income fee for trusts and investment accounts. The principal fee is a graduated fee based on assets under management (AUM), and a 5% income fee is charged on all interest and dividends earned, according to LWC. See the standard fee schedule below:

Principal fee schedule for portfolio management
Amount of assets Fee
First $3,000,000 0.9%
Next $3,000,000 0.6%
Balance 0.3%

 

*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 Loring Wolcott & Coolidge*
Your Assets Loring Wolcott & Coolidge Fee Amount
$500K NA
$1MM NA
$5MM 39,000
$10MM $57,000

Learn more about advisors' typical costs here.

What to Watch Out For

LWC doesn’t have any disclosures listed on its Form ADV, and the firm doesn’t charge any hidden fees or earn commissions from investment products. However, the firm’s $2 million account minimum may be high for some.

Opening an Account with Loring Wolcott & Coolidge 

You can set up an account with LWC by visiting the firm’s Boston office or you can contact the firm at (617)523-6531.

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

Tips for Finding a Financial Advisor

  • Before you choose a financial advisor, you’ll want to make sure you’ve holistically examined the fees associated with that particular advisor’s services. The most common types of advisory fees include asset-based fees, fixed fees, hourly fees, performance-based fees and commissions. Our review can help you make sense of how much a financial advisor costs
  • 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.

How Long $1 Million 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.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.