Finding a Top Financial Advisor Firm in Worcester, Massachusetts
Finding a financial advisor who is well-suited to your specific needs can be a challenge. SmartAsset’s research-backed assessment of the top firm in Worcester, Massachusetts can make your search easier. We took a deep dive into the investment strategy, account minimum and fee structure of each firm. Additionally, SmartAsset offers a free financial advisor matching tool that will pair you with advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Carl P. Sherr & Co., LLC Find an Advisor||$323,769,304||$500,000|| || |
|2||Cutler Capital Management, LLC Find an Advisor||$249,246,822||$1,000,000|| || |
|3||Coppertree, LLC Find an Advisor||$211,997,864||No set account minimum|| || |
Minimum AssetsNo set account minimum
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How We Found the Top Financial Advisor Firm in Worcester, Massachusetts
To find the top financial advisors in Worcester, Massachusetts, 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:
Carl P. Sherr & Co.
Carl P. Sherr & Co., LLC serves a wide range of clients, including individuals, businesses and charitable organizations. As far as individual accounts, the firm serves both non-high-net-worth individuals and high-net-worth individuals.
To open an account with this firm for investment supervisory services, you must have a minimum of $500,000. This is a fee-only firm.
Carl P. Sherr & Co. Background
Carl P. Sherr & Co. was founded in 1964 by its president Carl Sherr. Sherr and senior vice presidents Gary Sherr and Edward Sherr each hold a stake in the firm. This independently owned firm’s advisory staff ranges from 50 years’ experience in the financial industry to as little as 15 years, giving it a broad range of investing outlooks.
This firm aims to come up with a wealth management plan that will touch many different areas of your financial life. These areas include:
- Retirement planning
- Cash-flow analysis
- Tax minimization
- Estate planning
- Insurance evaluation
- Higher education funding
Carl P. Sherr & Co. Client Experience
Understanding your individual needs is the first step that Carl P. Sherr & Co. takes toward building your wealth management plan. This is done in two phases: an exploration meeting and a questionnaire. Your initial meeting with an advisor, which is free, is meant to give the firm a broad overview of what you want your investment account to eventually accomplish for you. Meanwhile, the questionnaire is much more detailed and it gives the firm a chance to understand your specific time horizon and risk tolerance.
As soon as this information is gathered, the firm will build a diversified portfolio for you and your family based on various securities, annuities and mutual funds. Then the plan is officially put into action with the possible help of any relevant professionals, like your accountant or lawyer.
But even with your plan in place, the process isn’t over. In fact, the firm recommends that you schedule reviews and check-in meetings as often as you’d like to make sure your portfolio is still where you want it to be. If it isn’t, your account will be rebalanced or changes can be made on a larger scale to better accommodate your new financial desires.
Cutler Capital Management
Cutler Capital Management, LLC takes the next spot on our list of the top financial advisors in Worcester. The majority of this firm's clients are high-net-worth individuals, which isn't surprising given that the firm has a $1 million minimum account size requirement. Other clients include non-high-net-worth individuals, pooled investment vehicles, pensions, profit sharing plans, charities and businesses.
Cutler is a fee-only firm, as it does not take commissions from any third-parties. Instead, it receives advisory fees directly from clients as its form of compensation.
Cutler Capital Management Background
Cutler Capital Management registered with the SEC as an investment advisor in 2000. It has been providing investment advisory services since 2003. Melvin S. Cutler and Geoffrey Dancey are the firm's two principal owners. Dancey serves as managing partner and portfolio manager at the firm. He is also a chartered financial analyst (CFA). Cutler is the founder of the firm and also serves as a portfolio manager.
This firm provides its clients with investment management services on a discretionary basis to separately managed accounts (SMAs) and private investment funds. It also offers financial planning services.
Cutler Capital Management Investment Strategy
Like other firms, Cutler Capital Management tailors its investment strategies to the individual needs of its clients. Advisors take note of each client's risk tolerance, investing timeline and overall financial goals.
When it comes to specific investments, Cutler specializes in convertible securities, community banks and real estate investment trusts (REITs). Advisors look to diversify portfolios and buy investments with the potential for long term growth and current income.
Coppertree finishes out our Worcester list. One of the firm’s advisors, president and founder Adam A. Waitkevich, is a certified financial planner (CFP), accredited investment fiduciary (AIF), certified divorce financial analyst (CDFA) and advanced divorce financial analyst (ADFA).
The firm has a client base comprised of non-high-net-worth individuals, high-net-worth individuals, pension plans, profit-sharing plans, charities and businesses. There is no minimum account size in place at the firm.
Coppertree is fee-based. This means that some advisors can oversee the sale of insurance products, and generate commissions from doing so. Despite any potential conflict of interest that this may present, the firm's fiduciary duty obligates it to act in the best interests of its clients.
Coppertree was opened in 2011, but it wasn't until 2015 that it became an SEC-registered investment advisor (RIA). The firm is owned and operated by Waitkevich, who also serves as its managing member, chief compliance officer (CCO) and president.
The firm specializes in providing investment management and financial planning services to its clients. The former is typically provided on a discretionary basis. The latter usually focuses on retirement planning, savings, education planning, insurance needs and more, depending on the specific needs of the client. The firm also provides advisory services to retirement plans.
Coppertree Investment Philosophy
Coppertree prefers to invest with a long-term approach, as this provides a more stable way to maximize expected return while minimizing risk. This is because it believes that markets are efficient in the long term and volatile in the short term. When analyzing potential funds for inclusion in clients' portfolios, the firm relies on fundamental analysis, which attempts to gauge a fund's intrinsic value in order to identify which are being undervalued by the market.
While the firm may opt for individual stocks, bonds or other securities if the client's situation dictates it, Coppertree normally constructs portfolios with a diverse combination of mutual funds and exchange-traded funds (ETFs). The firm generally recommends mutual funds from Dimensional Fund Advisors, which provides low-cost, passive funds exclusively to institutional advisors.