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The Top Financial Advisors in Needham, MA

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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.

Finding the Top Financial Advisor Firms in Needham, Massachusetts

It may be challenging to find a financial advisor in Needham, Massachusetts. The search can involve reading complex documents filled with financial jargon and fine print. But don’t worry. We did the hard work for you. We conducted research on such key factors as account minimums, services offered and the qualifications of the advisors they employ. Read on for the top eight financial advisor firms who serve your area. 

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Beaumont Financial Partners, LLC Beaumont Financial Partners, LLC logo Find an Advisor

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$3,027,042,866 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
2 Stage Harbor Financial, LLC Stage Harbor Financial, LLC logo Find an Advisor

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$836,371,229 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
3 Centerpoint Advisors, LLC Centerpoint Advisors, LLC logo Find an Advisor

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$560,471,812 $20,000 minimum annual fee
  • Financial planning
  • Portfolio management

Minimum Assets

$20,000 minimum annual fee

Financial Services

  • Financial planning
  • Portfolio management

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4 Goodman Advisory Group, LLC Goodman Advisory Group, LLC logo Find an Advisor

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$317,127,211 $100,000
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops

Minimum Assets

$100,000

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops
5 Traub Capital Management, LLC Traub Capital Management, LLC logo Find an Advisor

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$148,641,154 $400,000
  • Financial planning
  • Portfolio management

Minimum Assets

$400,000

Financial Services

  • Financial planning
  • Portfolio management
6 Commons Capital, LLC Commons Capital, LLC logo Find an Advisor

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$184,316,352 No set account minimum
  • Financial planning
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
7 Forness Financial LLC Forness Financial LLC logo Find an Advisor

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$167,000,000 $500,000
  • Financial planning
  • Portfolio management

Minimum Assets

$500,000

Financial Services

  • Financial planning
  • Portfolio management

What We Use in Our Methodology

To find the top financial advisors in Needham, 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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

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

Beaumont Financial Partners, LLC

The top firm on this list is Beaumont Financial Partners, a fee-only firm that primarily works with individual clients above and below the high-net-worth threshold. The firm also has a limited number of institutional clients that include pooled investment vehicles, pension and profit- sharing plans, charitable organizations and corporations.

Members of the Beaumont team hold a variety of advisory certifications like the certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA) and certified divorce financial analyst (CDFA) designations. 

There isn’t a set account minimum at the firm and fees for asset management are based on a percentage of assets under management. Advisors do not earn commissions for selling securities.

Beaumont Financial Partners Background

Beaumont Financial Partners was founded in 1999 and comes from a predecessor firm founded in 1981. The principal owners are Thomas J. Cahill, Lawrence A. Fiore, Philip Dubuque, James Oates and Richard Burnes Jr.

The firm’s services include investment management, business and tax advisory, life cycle planning, generation planning, estate planning, insurance and long-term care. 

Beaumont Financial Partners Investment Strategy

Beaumont breaks down each investment into one of several categories: safety, income, equity income, growth and aggressive growth. A mix of these investment categories is used to build a portfolio for clients. It also changes the balance of investments based on how the advisors believe the overall market is moving, shifting to more conservative investments when they see a market downtown. The firm also offers a suite of model portfolios that typically invest in low-cost mutual funds and exchange-traded funds

Stage Harbor Financial, LLC

Stage Harbor Financial is a fee-based firm with a team that includes advisory certifications like certified financial planner (CFP) and chartered financial analyst (CFA). As a fee-based firm, advisors can earn insurance commissions. However, the firm is a fiduciary and is obligated to act in the best interests of clients at all times.

Approximately 65% of Stage Harbor clients are high-net-worth individuals. The firm also works with non-high-net-worth individuals, trusts, estates, businesses and retirement plans.

Fees at Stage Harbor are based on a percentage of assets under management for wealth management. Financial planning fees are charged at a fixed rate, generally between $3,000 and $20,000. There is no minimum account size at Stage Harbor.

Stage Harbor Financial Background

Stage Harbor was founded in 2018, making it one of the youngest firms on this list. It is owned and operated by Andre M. Fernandes, Matthew D. Biggar and William F. LeFavor. 

Services offered by the firm include wealth management, consulting, financial planning, retirement planning, philanthropic planning, estate planning, education planning, income tax strategies and asset allocation.

Stage Harbor Financial Investment Strategy

Advisors at Stage Harbor take each client’s goals and needs into account when deciding how to put together a portfolio. There are a couple of main focal points:

  1. Strategy selection: This generally involves using a core/satellite structure with passive strategies at the core and active strategies in the satellite.
  2. Asset allocation: This is about creating a portfolio diversified across different asset classes.

After building out a client portfolio, the firm focuses on tax optimization and portfolio rebalancing. 

Centerpoint Advisors, LLC

Centerpoint Advisors, LLC is a fee-based advisor that works mostly with individual investors, though there are some high-net-worth clients. Institutional clients are all either pension and profi-sharing plans or corporations.

Members of the Centerpoint team hold various financial certifications such as certified financial planner (CFP), certified divorce financial analyst (CDFA) and chartered financial analyst (CFA).

There is no minimum account size at Centerpoint, but there is a minimum fee of $20,000 annually. Financial planning fees are charged hourly ($225 to $350) or as flat fees ($1,000 to $5,000). Investment management is charged as a percentage of assets under management. Some staff members at Centerpoint are registered representatives of broker-dealers and may earn commissions for selling securities. This is a potential conflict of interest, but when acting as advisors, they must act in the client’s best interest.

Centerpoint Advisors Background

Centerpoint was founded in 2011. It is owned by Jennifer M. Wolfsberg and John E. Wolfsberg. Prior to becoming an independent advisor, the firm operated as part of National Securities Corporation and National Asset Management.

Services at the firm include investment management, consulting services, family office services, insurance review, wealth transfer, charitable assistance, estate planning, tax planning, retirement planning, education funding, family governance and divorce financial analysis.

Centerpoint Advisors Investment Strategy

Advisors at Centerpoint use a mix of fundamental and technical analysis to make investment decisions. The firm offers investment strategies that focus entirely on fixed-income, equities or both. Equity strategies rely on mutual funds and exchange-traded funds.

The firm also offers an Individual Equity Strategy, which consists of a limited number of companies that offer above-average risk/return potential. This strategy will also occassionally take smaller positions in more speculative companies that offer greater upside potential, but elevated risk.

Goodman Advisory Group, LLC

Goodman Advisory Group, a fee-based firm, is the No. 4-ranked practice in Needham. The firm works with individuals above and below the high-net-worth threshold, as well as institutional clients that include pension and profit-sharing plans, charitable organizations and corporations. The team at Goodman includes two certified financial planners (CFPs), a certified public accountant (CPA) and a chartered financial advisor (CFA). There is a $100,000 account size minimum.

Fees for investment management are based on a percentage of assets under management. Financial planning fees are either fixed ($2,500 to $10,000) or charged hourly ($200 to $500). Some advisors at Goodman may earn commissions for the sale of securities or insurance products. This is a potential conflict of interest, but they must act in the client’s best interest when serving as an advisor. 

Goodman Advisory Group Background

Goodman Advisory Group was founded in 2017. It is owned by Deborah N. Goodman, who also serves as chief compliance officer.

Goodman’s services include investment management, internal management services, financial planning, investment planning, risk management assessment, cash flow and budget advice, tax planning, retirement analysis and college funding.

Goodman Advisory Group Investment Strategy

Advisors at Goodman use a mix of fundamental, technical and behavioral analyses to develop investment strategies for clients. Research materials come from various sources. Nearly all of client money is either invested in stocks or various mutual funds. Investment strategies are tailored to the needs of clients to the best of the firm's ability.

Traub Capital Management, LLC

Traub Capital Management, a fee-only firm, is next on the list of Needham's top financial advisory practices. Traub's small team includes one advisor who holds the certified financial planner (CFP) and chartered financial analyst (CFA) certifications.

The client base is nearly an even mix of high-net-worth and non-high-net-worth individual investors. Institutional clients include investment companies, pension and profit-sharing plans and corporations.

The minimum account size at Traub is $400,000, with minimum fees of either $4,000 or $2,800, depending on your portfolio makeup. Fees are charged based on a percentage of assets under management for asset management. 

Traub Capital Management Background

Traub was founded in 2003 by Heydon Traub, who remains the firm's owner. Traub previously spent 16 years at State Street Global Advisors (SSgA). There, he headed up the firm's global equities and global asset allocation departments, and served as a senior vice president. He also hosted a weekly radio show for three years on the Money Matters radio network, which was heard locally on WBNW 1120 AM.

Full-service investment management is the firm's primary service. 

Traub Capital Management Investment Strategy

Clients at Traub can choose to put together a portfolio made up of only mutual funds or one that also uses individual equities. Those that use only mutual funds will pay lower fees. If you do use individual equities, the firm thinks in terms of value and uses quantitative analysis to find investments that offer it.

Commons Capital, LLC

Commons Capital is a fee-based advisor that works with individual clients who are above and below the high-net-worth threshold. 

The firm has no account size minimum. Fees for investment management are based on a percentage of assets under management, ranging from 0.25% to 2%. Meanwhile, financial planning is billed at a fixed rate of up to $2,000. Some of the advisors may earn commissions for selling securities. This presents a potential conflict of interest, but they must act in your best interest when acting as an advisor.

Commons Capital Advisors Background

Commons Capital was founded in 2009 and registered as an investment advisor in 2012. It is owned and operated by Jonathan D. Straus, founder, chief compliance officer and portfolio manager. 

Services offered by the firm include investment management, financial planning, investment planning, retirement planning, educational planning, estate planning, philanthropic planning and insurance needs.

Commons Capital Advisors Investment Strategy

Advisors at Commons Capital follow a seven-step process for putting together client portfolios:

  1. Use Modern Portfolio Theory
  2. Overweight and underweight asset classes
  3. Pair active and passive strategies
  4. Limit position sizes to less than 5% of portfolio
  5. Monitor securities positions each day
  6. Combine quantitative, fundamental and technical analysis
  7. Hedge risk during significant downturns

Forness Financial LLC

Forness Financial rounds out our list of the top financial advisory firms in Needham. The clients this fee-based firm are mostly non-high-net-worth individuals, although some have a high-net-worth. The firm also serves trusts and estates. 

The small team at Forness includes such advisory certifications as chartered retirement planning counselor (CRPC) and certified financial planner (CFP).

Fees for wealth management are based on a percentage of assets under management. Some advisors may earn commissions for selling insurance products. This is a potential conflict of interest, but advisors must always act in the best interest of the client. The firm imposes a minimum account size of $500,000.

Forness Financial Background

Founded in 2014, Forness Financial is owned and operated by managing principals Norman A. Forness and Ryan C. Forness, who also serves as chief compliance officer.

The firm’s services include investment management, portfolio strategy and financial consulting, estate planning, retirement income planning, elder care planning and tax strategy. 

Forness Financial Investment Strategy

Advisors at Forness Financial primarily use fundamental analysis to research potential investments for clients. Long-term investments are preferred, but investments held for a shorter period of time may also be used if the opportunity presents itself. The firm primarily uses mutual funds and/or exhange-traded funds to populate client portfolios. Advisors do their best to tailor asset management services and investment strategies to the  needs of clients.

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.