NEWS AND INSIGHTS FROM FINTRX
Registered investment advisors are seeing record-breaking growth in the number of firms and assets under management, ultimately underscoring our significant value to investors, the economy, and private capital markets. With lingering uncertainty in the markets today, businesses and high-net-worth individuals are turning to RIAs for their self-governing nature, fiduciary value, and sophisticated financial expertise. To shine a light on the RIA space, FINTRX explores five of the largest registered investment advisors (RIAs) based in Rhode Island.
Founded in 2009, Financial Independence, LLC is a Warwick, Rhode Island-based independent registered investment advisor helping clients balance their goals with the financial resources available. The firm's core values—integrity, passion, caring, and balance—define who they are. As an independent registered investment advisor, Financial Independence is fee-based and free to act in the best interest of its clients. The firm works with a team of experienced institutional money managers to employ modern strategies intended for smoothing out returns and increasing the chances of success in diverse markets. Financial Independence also has an outside network of CPAs, attorneys, real estate, and mortgage advisors (among others) providing the expertise necessary to develop a holistic financial plan. Through its two core services of investment management and holistic financial planning, the group strives to protect and grow client capital.
- Founded: 2009
- Headquarters: Warwick, RI
- Discretionary Assets: $0
- Non-Discretionary Assets: ~$176M+
- Total AUM: ~$176M+
- Specialties: Investment management, financial planning, retirement planning, and 401(k)'s
Founded in 2013, Axis Advisors, LLC is a full-service, fee-based independent wealth management firm that works with individuals, families, businesses, and non-profit organizations to develop and manage their investment portfolios and retirement plans. After years in the business, the firm has developed a reputation for educating individuals in an easy-to-understand manner so they can grasp personal finance and use those concepts to pursue their financial objectives. Axis uses evidence-based portfolios backed by leading academic and economic data research. The firm pledges 1% of gross revenues to support grassroots non-profit organizations committed to efforts for a more sustainable, responsible, and impactful society. Axis also provides a turnkey practice solution for financial advisors and planners wanting to operate an independent fiduciary practice but don't want to start their own RIA. Whether you are investing to build wealth, protect your family, or preserve your assets, Axis Advisors ensures personalized services focused on clients' specific needs, wants, and long-term goals.
- Founded: 2013
- Headquarters: East Providence, RI
- Discretionary Assets: ~$122M+
- Non-Discretionary Assets: ~$900,000+
- Total AUM: ~$122.9M+
- Specialties: Wealth management, financial planning, and insurance planning
Established in 2018, Napatree Capital, LLC is a Providence, Rhode Island-based investment management boutique with over 85 years of combined wealth advisory, private banking, and investment experience. Napatree Capital believes in disciplined investment management based on comprehensive wealth planning and long-term objectives. The firm creates its own proprietary strategies based on in-depth analysis of company fundamentals and understands working with clients is a dynamic process that develops as financial conditions present opportunities and challenges. Napatree approaches portfolio management with analytic rigor, looking at relative value amongst asset categories to ensure suitable opportunities that best align with the goals and objectives of each client.
- Founded: 2018
- Headquarters: Providence, RI
- Discretionary Assets: ~$91.5M+
- Non-Discretionary Assets: $11.5M+
- Total AUM: ~$103M+
- Specialties: Value investing, wealth advisory, fixed income, asset allocation, and endowments
Established in 2002, Eliot Rose Wealth Management is a fee-only, fiduciary, and independent financial advisor based in West Warwick, Rhode Island. Eliot Rose Wealth Management provides comprehensive financial and investment management to help clients organize, grow, and protect their assets through life’s transitions. Whether you are deciding when to retire, navigate a difficult life transition, or educate the next generation, Eliot Rose Wealth Management is ready to provide clarity and direction in these new life chapters. The firm reviews and analyzes dozens of investment opportunities, carefully evaluating all costs and tax considerations before arriving at the right portfolio for you. The Eliot Rose investment team comprises father and son partners, Gary and Jason Siperstein. This two-person investment team has over fifty years of experience navigating the complexities of the changing financial climate. Charles Schwab Institutional Services - a leader in the field - is the firm's custodian (or holding company).
- Founded: 2002
- Headquarters: West Warwick, RI
- Discretionary Assets: ~$83.6M+
- Non-Discretionary Assets: $0
- Total AUM: ~$83.6M+
- Specialties: Retirement planning, financial planning, medicare planning, tax-aware investing, NAPFA member, fee-only, and investment management services
Founded in 2012, Blue Chip Financial Advisors, LLP is a full-service registered investment advisory firm with a mission to provide high-quality wealth and investment management services to its clients. The firm's comprehensive financial planning services build, preserve, and maximize the wealth of its individual clients, corporate executives, and business owners. With a proliferation of new investment vehicles, changes in retirement planning, and constantly changing tax codes, Blue Chip offers sound advice to avoid pitfalls while helping promote personal financial security.
In an age where nearly all financial planning firms and investment brokerage firms have forgotten who is important, Blue Chip strives to put its clients' needs first. Although this does not provide a guarantee of performance, it shows where their values as an organization lie. Blue Chip will not make money or commissions except in unique situations which are explained before the transactions.
- Founded: 2012
- Headquarters: East Providence, RI
- Discretionary Assets: ~$0
- Non-Discretionary Assets: $65.2M+
- Total AUM: ~$65.2M+
- Specialties: Education planning, retirement planning, portfolio management, investment portfolio diversification, offshore investment, private equities, and fixed income
A registered investment advisor (RIA) is any firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
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May 06, 2021
Renae Hatcher is member of the marketing team at FINTRX - focused on delivering targeted & relevant family office content to our subscribers.