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Top Financial Advisor Firm in Worcester, MA

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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 firm’s investment strategy, account minimum and fee structure. Additionally, SmartAsset offers a financial advisor matching tool that will pair you with top advisors in your area who align with your financial goals.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Carl P. Sherr & Co., LLC Carl P. Sherr & Co., LLC logo Find an Advisor

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  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets


Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

How We Found the Top Financial Advisor Firm in Worcester, Massachusetts

All Worcester-based financial advisor firms registered with the U.S. Securities and Exchange Commission (SEC) were considered for this review. Firms that are registered with the SEC are bound by fiduciary duty, which means they must put their clients’ best interests before their own. We then eliminated firms that did not manage individual accounts, did not offer financial planning or had disciplinary issues with the SEC.

Carl P. Sherr & Co., LLC

Carl P. Sherr & Co., LLC serves a wide range of clients, including individuals, businesses, those with trusts and estates and charitable organizations. As far as individual accounts, the firm serves nearly equal parts individuals and high-net-worth individuals. 

To open an account with this firm, you must have a minimum of $250,000 in investable assets. There is one certified financial planner (CFP) on staff to aid you and your advisor in creating a comprehensive investment plan.

This fee-based firm may recommend insurance policies to go along with your investment or advisory account and sales may result in commissions for your advisor. The firm is a fiduciary though, so it must act in your best financial interest always.

Carl P. Sherr & Co., LLC Background

Carl P. Sherr & Co., LLC  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., LLC Client Experience

Understanding your individual needs is the first step that Carl P. Sherr & Co., LLC 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.

How Many Years $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.

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

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then 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 the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. 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.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research