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Best Financial Advisors in Somerville

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Somerville, MA
  • Estate Planning
  • Financial Planning
  • Investment Management
  • Retirement Planning

Business Description

SmartAsset's free, five-minute tool makes it easy to find qualified financial advisors in your area. The exclusive tool uses a quick survey to help SmartAsset's exclusive algorithm match you with up to three advisors based on your specific financial needs. Each advisor is a fiduciary, legally bound to work in your best interest, and rigorously vetted by SmartAsset. You can speak with each for free, sometimes within a matter of minutes, and choose whom you want to work with. Hundreds of thousands of smart investors and retirees have already used SmartAsset's simple, no-cost service to find the right financial advisors for them.

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We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Yelp
4.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Price: Free consultation

Argent Wealth Management, LLC logo
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Argent Wealth Management, LLC

200 Fifth Ave. 7th Floor, Waltham, MA 02451
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  • Financial Planning

Business Description

Argent Wealth Management, LLC, handles financial matters in the Somerville metro. It provides integrated wealth management solutions regarding estate, investment, financial, retirement, and tax planning. It also helps clients create strategies to achieve their financial goals by executing a four-step process. This includes onboarding clients, planning solutions, reviewing plans, and managing discretionary investment or monitoring plans. The business has been in the industry for over 30 years. It caters to individuals, families, executives, and business owners.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
4.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Detail
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Artemis Financial Advisors LLC logo
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Artemis Financial Advisors LLC

115 Newbury Street, Suite 302, Boston, MA 02116
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  • Certified Financial Planner (CFP)

Business Description

Artemis Financial Advisors LLC is an independent fiduciary firm that helps clients in Somerville with their financial concerns. The company assists in investing, taxes, and insurance matters. Its financial planning, sustainable investing, and wealth management services are suited for individuals and couples planning for their future and finances. It has women and wealth programs designed to assist single breadwinners, executives, mothers, or recent divorcees. CEO Leigh Bivings is a member of NAPFA, Boston Estate Planning Council, and the Institute of Divorce Financial Analysts.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Balance Wealth Advisors logo
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Balance Wealth Advisors

60 Walnut Street Suite 101A, Wellesley, MA 02481
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  • Financial Planning

Business Description

Balance Wealth Advisors provides discretionary investment strategies and personalized financial advice to individuals, high net worth clients, or families in the Somerville metro. Its team of advisors guides them in developing plans that allow them to achieve financial confidence until retirement. One of its financial advisors, Leo White, focuses on providing understandable solutions to their client's financial concerns. He earned the Certified Long Term Care­­­­ and Chartered Retirement Planning Counselor designations in 2015 and 2016, respectively.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (161)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Detail
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Balanced Rock Investment Advisors logo
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Balanced Rock Investment Advisors

1408 Centre St, Boston, MA 02131
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Business Description

Balanced Rock Investment Advisors serves clients throughout the Somerville community. It offers financial planning services, including retirement planning, investment asset allocation, values-based investing, education and financial aid planning, and real estate planning. It also assists clients with budgeting, debt planning, and periodic portfolio rebalancing. Wealth management services are also provided by its team. As a registered investment advisor firm, it acts as a fiduciary and develops customized plans for its clients. Daniel M. Flannery, president and portfolio manager, holds a CFA designation.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Facebook
4.0 / 5 (8)
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Birch Hill Investment Advisors logo
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Birch Hill Investment Advisors

One International Place, Suite 770, Boston, MA 02110
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  • Certified Financial Planner (CFP)
  • Estate and Trust Specialist
  • Retirement Planning
  • Tax Planning

Business Description

Birch Hill Investment Advisors handles financial services in Somerville. It addresses issues such as retirement planning, college costs, elderly care, and the security of succeeding generations in managing and investing its clients’ money. It considers their personal circumstances, risk tolerance, and long-term and short-term goals and develops growth-oriented investment portfolios. The company was established in 2007. President and founder Gary Mikula is a Chartered Financial Analyst. He has over 40 years of experience in investment management.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Boston Financial Management logo
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Boston Financial Management

255 State Street, 6th Floor, Boston, MA 02109
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  • Business Formation

Business Description

Boston Financial Management delivers financial solutions to individuals, families, businesses, and organizations in Somerville and the neighboring communities. The firm offers wealth management and estate and financial planning services that include transparent reporting, estate plan analysis, and charitable giving. It reviews clients' trust documents and handles fiduciary oversight and responsibilities. An independent financial advisor, BFM is registered with the Securities & Exchange Commission. Richard H. Morse established the wealth advisory and investment management firm in 1967. He is a former director of North American Instrument Corporation.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
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Brio logo
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Brio

1073 Hancock St. #101, Quincy, MA 02169
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  • Estate Planning
  • Tax Planning
  • Tax Preparation

Business Description

BRIO is a financial planning firm serving Somerville and the surrounding communities. It guides individuals in developing a personal financial plan which involves taxes and investments. Its financial planner, Michelle Morris, particularly assists single women in certain life transitions such as increased income, inheritance, and retirement. She handles estate planning, insurance review, portfolio analysis, investment allocation, and education funding. Morris became interested in personal finance at a young age after discovering how her grandmother's savings account that was left for her helped in many ways.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Concierge Wealth Management logo
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Concierge Wealth Management

346 Commercial Street, Boston, MA 02109
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  • Financial Planning

Business Description

Concierge Wealth Management is a financial advisory and planning firm serving individuals, families, and businesses in Somerville. It was established in 2010 and has been catering to the wealth management needs of women, retirees, and business owners since. It is headed by Julian B. Morris, a Certified Financial Planner and an Accredited Asset Management Specialist. Concierge Wealth Management gives back to the community by donating to organizations like Operation Smile. It also joins local groups like the Boston Young Professionals Association.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (6)
Crestwood Advisors logo
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Crestwood Advisors

One Liberty Square, Suite 500, Boston MA, MA 02109
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  • Certified Financial Planner (CFP)

Business Description

Crestwood Advisors offers financial advice and guidance to clients in the Somerville metro. The wealth advisory firm takes into account its clients' financial goals, risk tolerance, and obligations, offering a customized course of action and educating them on factors that affect finances such as market and economic developments. It helps clients with long-term investments, estate and trust planning, philanthropy, and emerging wealth. The firm's clientele ranges from professionals to entrepreneurs. Partner and wealth manager Aaron M. Beltrami joined the firm in 2008.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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East Horizon Investments logo
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East Horizon Investments

One Broadway, 14th Floor, Cambridge, MA 02142
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  • Retirement Planning

Business Description

East Horizon Investments is an investment advisory firm serving clients in Somerville. The firm specializes in portfolio construction, asset allocation, and wealth management services. It offers client-centric financial analysis, and its services include retirement plans, educational planning, and traditional equity and fixed-income investments. Chief Investment Officer Eric Uchida Henderson has over two decades of investing experience and was featured in The Asia Wall Street Journal. East Horizon Investments has also been featured at the MIT Sloan Asia Business Conference.

Fisher Financial Strategies logo
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Fisher Financial Strategies

245 First Street Suite 1800, Cambridge, MA 02142
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  • Certified Financial Planner (CFP)
  • Estate and Trust Specialist
  • Retirement Planning
  • Tax Planning

Business Description

Fisher Financial Strategies (FFS) provides financial advisory services to clients in Somerville. It helps with charitable giving planning, risk management, cash flow planning, investment planning, and estate planning. The firm also offers college planning services that implement relevant financial strategies to assist families in reducing college costs, and it has partnered with Collegiate Funding Solutions (CFS) for the program. FFS founder Thomas A. Fisher is affiliated with The National Association of Personal Financial Advisors and The Garrett Planning Network.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Detail
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Pinney & Scofield logo
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Pinney & Scofield

22 Hilliard Street, Cambridge, MA 02138
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  • Estate Planning
  • Tax Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Financial Planning

Business Description

Pinney & Scofield is a group of financial advisors serving the community of Somerville. The Cambridge-based firm specializes in financial planning and portfolio management. Its services include risk management review, estate planning, cash flow analysis, and asset allocation. Its team of professionals is also knowledgeable about tax strategies and provides clients with insurance coverage recommendations. The company has been helping individuals and families plan their future and achieve their financial goals for more than 30 years.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Power 10 Advisory Partners logo
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Power 10 Advisory Partners

1 Beacon St Fl 25, Boston, MA 02108
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  • Certified Financial Planner (CFP)
  • Estate and Trust Specialist
  • Retirement Planning

Business Description

Power 10 Advisory Partners offers financial planning to the locals of Somerville. The team crafts plans that are tailored with a range of financial options and strategies designed to help clients reach their financial objectives. Additionally, the client is provided a real-time digital plan where they can track goals and the progress they've made. Other services it offers span programs concerning disability income, long-term care, and life insurance. Father-and-daughter duo Ralph and Cassie Rotman founded the firm.

Ropes Wealth Advisors logo
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Ropes Wealth Advisors

800 Boylston St, Boston, MA 02199
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  • Certified Financial Planner (CFP)

Business Description

Serving the Somerville area, Ropes Wealth Advisors helps individuals navigate their finances. The firm assists families and institutions in building their wealth through comprehensive financial planning. It involves analyzing a client’s financial picture to implement action-oriented and fluid strategies. Its team of professionals also offers wealth management services, including estate planning and philanthropy advising. Their investment approach also involves minimizing risks through asset allocation and continuous monitoring. Chief economist Michelle A. Knight has been featured on Bloomberg and Forbes.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
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Detail
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SCS Financial logo
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SCS Financial

888 Boylston Street, Boston, MA 02199
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  • Certified Financial Planner (CFP)
  • Chartered Financial Analyst (CFA)

Business Description

SCS Financial is a wealth and investment management firm serving Somerville and surrounding communities. Since 2002, it has been providing a wide range of services that assist individuals and families with investing and daily living. These include strategic financial planning, portfolio risk management, asset allocation, income tax planning, and counsel on the development of philanthropic strategies. The firm's CEO and co-founder, Antony J. Abbiati, has more than 22 years of experience in the investment industry.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Solari Financial Planning logo
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Solari Financial Planning

10 Post Office Square 8th Floor, Boston, MA 02109
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  • Finance Planning

Business Description

Solari Financial Planning is a two-person team firm that serves clients in Somerville. It offers financial, retirement, and investment planning services to individuals and families with a focus on helping them make the best decisions that will allow them to secure their financial goals. The team works with its clients in developing comprehensive plans and solutions to address their financial problems. Michael Solari, who earned his CFP designation, has been featured in publications like The Wall Street Journal and InvestmentNews.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (4)
Facebook
5.0 / 5 (1)
The Bulfinch Group logo
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The Bulfinch Group

160 Gould Street, Ste 310, Needham, MA 02494
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  • Chartered Financial Analyst (CFA)
  • Finance Planning

Business Description

The Bulfinch Group offers guidance to individuals, families, and establishments in Somerville in building and preserving their wealth. It reviews every client's financial position and develops a plan that addresses specific goals and concerns, such as security and estate organization for families. The agency's business planning services include retirement planning and key employee insurance. Its representatives further assist in the implementation, monitoring, and analysis of financial plans. The Bulfinch Group gives back to the community through its own organization, The Bulfinch Group Charitable Foundation.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (10)
Google
4.2 / 5 (5)
Yelp
2.5 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Touchpoint Financial Advisor Group logo
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Touchpoint Financial Advisor Group

400 Unicorn Park, 1st Floor, Woburn, MA 01801
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  • Certified Financial Planner (CFP)

Business Description

For over 40 years, Touchpoint Financial Advisor Group has been serving individuals in the Somerville metro. The firm offers a variety of investment options, such as exchange-traded funds, retirement plans, individual stocks and bonds, managed accounts, and alternative investments. It also handles estate planning and risk management services. Its team of financial advisors thoroughly monitors the clients' investments' performance and educates them throughout the process of financial planning. Touchpoint Financial Advisor Group caters to customers in other U.S. states, including Texas, Los Angeles, and Arizona.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Google
5.0 / 5 (1)
Back to Providers

Frequently Asked Questions

Introduction

There are many titles for financial professionals, so it's challenging to track what each one means. A financial advisor is probably the term you've heard most often. Financial advisor is a broad term for a professional who helps individuals or companies manage their finances, including investment choices. There are over 100 certifications that financial advisors can obtain.

  • Financial planners, wealth managers, and investment advisors are all financial advisors with different focus areas.
  • A financial planner helps an individual or a company make a plan to achieve long-term financial goals.
  • A wealth manager helps individuals maintain their wealth through various disciplines and services, such as taxes, estate planning, and investment advice.
  • An investment advisor offers investment advice and recommendations to individuals or organizations.
There’s a misconception that you have to be extremely wealthy to use a financial advisor. In reality, they can be beneficial for people from any income level. Keep reading to find answers to the most commonly asked questions about financial advisors, so you know which type can fit your specific needs.

Are financial advisors worth it?

Whether or not a financial advisor is worth it depends on your personal situation. If your finances are fairly straightforward, then you may be better off handling it on your own. But if you have substantial assets or a complex investment portfolio, then hiring someone to handle it for you can be well worth the cost.

What does a financial advisor do?

Financial advisors can have many types of specialties. Generally, a financial advisor advises on or helps to execute a financial plan. Some examples include assisting people with getting out of debt, building out an investment portfolio, and handling taxes.

How much money do I need to work with a financial advisor?

There’s no specific income level you need in order to work with a financial advisor, but there may be a minimum investment amount for certain types of services. Some financial advisors won’t manage your money unless you have $100,000 or more to invest, but this isn’t the case with financial coaches or robo-advisors.

What does a financial coach do?

Financial coaches focus on improving your financial literacy and money management skills. For example, they can help you figure out how to pay down your student loans or decide how much money to put away for retirement. They usually charge by the hour and don’t offer asset management services or investment advice.

When should I use a financial advisor vs. doing it myself?

Smart money management can give you freedom and comfort. Being responsible with your money makes it possible to meet goals and pay for major expenses. A financial advisor is trained and can offer you expertise that would otherwise take years to learn. They know how to save you money and make it go further.

How do I know if my financial advisor is trustworthy?

Because financial advisors aren’t licensed or regulated, it’s up to the client to make that determination for themselves. However, if your advisor is a fiduciary, that means they’re legally bound to act in your best interest. Some types of advisors, including Certified Financial Professionals (CFPs), are held to fiduciary standards.

What\'s the difference between a financial advisor and a financial planner?

The term financial advisor is a broad phrase that encapsulates many specialties, including financial planner. It's similar to how doctor applies to different physicians, while a cardiologist is a specialty doctor. A financial planner helps their client plan to achieve long-term financial goals, such as saving for a house or retirement.

Are financial advisor fees tax deductible?

Until 2018, financial advisor fees were tax deductible as a miscellaneous expense. However, the Tax Cuts and Jobs Act elimited that deduction until at least 2025.

What is a financial consultant?

A financial consultant and a financial advisor are essentially the same. In recent years, financial consultant has become a less popular term, with financial advisor being much more common. Sometimes, the financial professional may opt for the term consultant when offering services to a business rather than an individual.

What is a robo-advisor?

A robo-advisor is essentially an algorithm that manages your investment portfolio for you. Because their services are automated, you’ll pay less than you would for a human advisor — often between 0.25% and 0.50%. They don’t require large initial investments either, making them a popular choice for entry-level investors. However, you won’t get the same level of advice that you would get from a personal financial advisor.

What makes someone a fiduciary?

Fiduciary is a legal term for a person who has a legal or ethical responsibility to act in your best interests. For example, a trustee and a beneficiary. A financial advisor may have a fiduciary obligation to make financial choices that are best for you, even if it means they earn less in commissions or fees.

How often should I meet with my financial advisor?

After your initial meeting, you may only need to check in with your financial advisor on a quarterly or annual basis. Ask them in advance how often you can expect to hear from them, and whether they offer in-person, phone, or virtual meetings.

Should your financial advisor be a fiduciary?

It’s important to understand that only some — not all — financial advisors have a fiduciary obligation to their clients. Always ask your financial advisor if they’re bound by fiduciary duty. If not, it’s possible that they’ll push products or services that earn them the highest commission, not necessarily what’s best for you. Opt for a financial advisor bound by fiduciary duty whenever possible.

Can my financial planner help with taxes?

Financial advisors aren’t necessarily accountants or tax preparers, so don’t expect them to prepare your taxes for you. However, they may be able to provide tax-related advice to help you optimize your returns and deductions. If you need an advisor who can file your taxes, look for one who is also a CPA (Certified Public Accountant).

Do I need a financial advisor?

Ask yourself if a financial advisor can fill a need or solve a problem you can’t easily handle on your own. They can be helpful in a wide variety of ways, such as building budgets or financial plans, finding ways to save money on taxes, creating an investment portfolio, or offering investment advice.

How do financial advisors get paid?

Clients pay to work with a financial advisor whether it’s through fees, commissions, or salaries. If they’re paid by client fees or commissions, their salary is tied to how much business they bring in. The harder they work, the more they make. In comparison, a salaried employee is guaranteed their wage no matter how many clients they have.

What experience should I look for in a financial advisor?

 If you have specific goals or a unique financial situation, look for a financial advisor with expertise in that area. For example, some financial advisors specialize in working with millennials or focus on socially responsible investing.

How much does a financial advisor cost?

A financial advisor’s costs depend on their fee structure. Some advisors charge a fee — either hourly or a percentage of the client assets under management. Another common option is to charge a commission on the products sold or investments made.

Should I hire a financial advisor before buying a house?

While not always necessary, a financial advisor could help you decide how large of a mortgage to apply for, how much money to put down, and how to balance the purchase with other savings and investment goals.

How many financial advisors are there in the U.S.?

According to the U.S. Bureau of Labor Statistics, it’s estimated that there are 218,050 financial advisors. California is the state with the highest employment of financial advisors across the nation.

Do banks offer financial advisors?

Yes, many banks have financial advisors on staff. Your bank may also offer incentives to work with their financial advisors, such as lower fees or free accounts. However, it's important to note that many of the bank's financial advisors don't have a fiduciary obligation and might prioritize the bank's products above all else. There is a cost when working with your bank's financial advisor.

Should I hire a wealth manager?

A wealth manager can help offer complex financial planning services, including tax guidance, estate planning, and legal assistance. While you don't have to be a high-income earner to benefit from a financial advisor, a wealth manager is typically for those that have a high net worth. However, many people build wealth and need a wealth manager later on in life.

Is wealth management worth it?

Wealth management is typically worth it for those who need help with multiple endeavors or comprehensive financial situations, such as charitable contributions or investment portfolio management, or want to protect their assets. A wealth manager can also offer you guidance if you’ve been neglecting your finances or making poor judgements.

How can you tell if a financial advisor is bad?

Your relationship with your financial advisor is a very personal one, as you’re trusting them with your wealth and future. Some general signs that your financial advisor is bad include:

  • They can’t answer your financial questions
  • You have worked with them for a while but haven’t seen a financial improvement
  • They don’t provide you with progress reports
  • They don’t check in with you

What do you need to be a financial advisor?

As mentioned, there are over 100 types of certifications for financial advisors. The training or experience you need will depend on which specialty you want to pursue. Generally, financial advisors need to have:

  • A Bachelor’s degree
  • A General Securities Representative license (Series 7 license)
  • A Certified Financial Planner (CFP) certification isn’t mandatory but is often preferred

Where do financial advisors work?

Where a financial advisor works will depend on what type of financial advisor they are. Financial advisors can work at a variety of places, including:

  • Securities and commodity brokers
  • A bank
  • A credit union
  • Independently
  • Insurance companies
  • Financial investment firms
  • Small investment advisory firms

How much do financial advisors make?

In 2019, the national average salary for a financial advisor was $87,850. However, it’s important to note the average salary varies from state to state and the different focus areas — an investment advisor may make a lot more than a financial planner. Lastly, salary can depend on how the individual is getting paid. Financial advisors can be paid by client fees, commissions, or salaries.

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