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RIA Industry Spotlight: Top Firms in Boston

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To shine a light on the Registered Investment Advisor (RIA) landscape, FINTRX - family office and RIA database provider has compiled the RIA Industry Spotlight to highlight three top registered investment advisor firms in Boston based on assets under management, employee count, and other key metrics...


1. The Colony Group, LLC

Established in October 2011, The Colony Group, LLC is a Boston MA-based Registered Investment Advisor (RIA) offering advisory services to individuals, high-net-worth individuals, pooled investment vehicles, charitable organizations, institutions and businesses. In addition to its headquarters, the group operates out of Greenwich, CT, Naples, FL and Easton, MD. The Colony Group offers financial planning services, tax compliance, business management, dispute resolution, portfolio management for individuals, small businesses, pooled investment vehicles and institutions, selection of other advisors, as well as educational seminars and workshops. The firm offers sub-advisory and business services to other advisory firms through third parties, concierge, lending and cash management services. Colony also provides investment consulting services for certain clients on accounts and assets.

As of April 2022, The Colony Group manages $15.8B discretionarily and $2.8B in non-discretionary assets. Since last year, the group's assets under management (AUM) have increased by roughly 43%. Colony provides investment consulting services on a non-discretionary basis, which comprises reporting and review of assets. The firm prefers that equity or fixed income accounts for individual clients have a starting value of no less than $500,000.

Besides the group’s domestic client base, The Colony Group manages approximately $15M in foreign assets. Colony employs a team of 320 employees, 121 of which regularly perform advisory functions. Compared to a year ago, the firm's primary capital source, high-net-worth individuals, has shifted from 83% to 73% of the firm's total AUM. Colony engages a consultant to develop CMAs for a variety of asset classes.

Colony performs due diligence on a range of investment products, including but not limited to, mutual funds, exchange-traded funds, separate account managers, exchange-traded notes, limited partnerships, and structured notes. Besides their traditional services rendered, The Colony Group also serves as an advisor to private funds. Its assets are currently held with multiple custodians including Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC. The Colony Group has several industry affiliations including those with LVW Advisors LLC, Sentinel Pension Advisors Inc., and Strategic Wealth Partners.

- Headquarters: Boston, MA
- Additional Office Locations: 58
- Total Employees: 320
- Total Reps: 121
- Assets Under Management (AUM): $18.6B
- Discretionary AUM: $15.8B
- Non-Discretionary AUM: $2.8B
- Client Base: Individual & Family; Institutional
- Fee Structure: Percentage of AUM; Hourly Charges; Fixed Fees; Private Funds Advised
- Specialties: Financial Planning Services; Tax Compliance; Business Management; Dispute Resolution; Portfolio Management for Individuals, Small Businesses, Pooled Investment Vehicles and Institutions; Selection of Other Advisors; Educational Seminars/Workshops


2. Boston Private Wealth (BPW)

Boston Private Wealth is a Boston MA-based Registered Investment Advisor (RIA) that provides investment advisory, consulting, wealth management, and financial planning services to individuals, trusts, estates and charitable organizations, family offices, corporations or other business entities, banking and trust companies, as well as not-for-profit entities including foundations, retirement and profit-sharing plans, state or municipal government entities, and other investment advisors. In addition to its headquarters, Boston Private Wealth operates out of Palm Beach Gardens, FL, Beverly Hills, CA and San Francisco, CA. The firm emphasizes a holistic, client-centric approach to highly customized investment solutions focused on portfolio construction and delivered by skilled and experienced professionals.

As of April 2022, Boston Private Wealth manages $14.8B discretionarily and $1.03B in non-discretionary assets. Since last year’s 2021, Boston Private Wealth’s assets under management have increased by roughly 10%. The firm manages investment portfolios comprising various investment vehicles that invest in equities, fixed-income securities, mutual funds, ETFs, and limited partnerships. BPW employs a rigorous due diligence review process to select the external managers and their strategies that may be available to their clients.

Boston Private Wealth employs a team of 190 employees, 122 of which regularly perform advisory functions. Compared to a year ago, Boston Private Wealth's primary capital source, HNWI, has shifted from HNWI 87% to HNWI 87% of the firm's total assets under management. Besides the group’s domestic client base, Boston Private Wealth also manages roughly $107.2M in foreign assets. BPW currently uses National Financial Services LLC as its sole custodian and houses all assets with the group. The firm has several industry affiliations including those with SVB Strategic Investors LLC, among others.

- Headquarters: Boston, MA
- Additional Office Locations: 54
- Total Employees: 290
- Total Reps: 122
- Assets Under Management (AUM): $15.9B
- Discretionary AUM: $14.8B
- Non-Discretionary AUM: $1.03B
- Client Base: Individual & Family; Institutional
- Fee Structure: Percentage of AUM; Hourly Charges; Fixed Fees
- Specialties: Financial Planning Services; Portfolio Management for Individuals, Small Businesses, Businesses or Institutions; Pension Consulting Services; Selection of Other Advisers; Publication of Periodicals or Newsletters; Educational Seminars/Workshops


3. Eaton Vance Wateroak Advisors (EVWA)

Established in 2004, Eaton Vance Wateroak Advisors is a Boston MA-based Registered Investment Advisor (RIA) providing wealth management services to high-net-worth individuals, trusts, estates, personal holding companies, an open-ended mutual fund, pension and profit-sharing plans, labor unions, religious organizations, foundations and charitable organizations, corporations, endowment funds, wrap programs, and educational institutions. In addition to its headquarters, Eaton Vance Wateroak Advisors operates out of an additional office location in Winter Park, FL.

EVWA provides customized investment advice to meet the needs of individual clients through a variety of investment strategies, including equity, income, mixed-asset, and alternative strategies. The firm conducts financial planning services, selection of other advisors, and portfolio management for individuals, small businesses, investment companies, and institutions. EVWA also advises certain clients on financial planning, tax management strategies, charitable giving, estate planning, wealth transfer, executive compensation and business succession strategies.

As of April 2022, Eaton Vance Wateroak Advisors manages approximately $13.7B discretionarily and $869.3M in non-discretionary assets. In addition to the group’s domestic client base, Eaton Vance Wateroak Advisors also manages roughly $25.8M in foreign assets. EVWA's minimum relationship size is strategy-dependent, ranging from $1 million to $25 million. The firm seeks to achieve above-average long-term investment results for its clients through an emphasis on equity, debt instruments, real assets and currencies.

Since last year, Eaton Vance Wateroak Advisors’ assets under management (AUM) have increased by roughly 41%. The group employs a team of 67 employees, 26 of which regularly perform advisory functions. Compared to a year ago, Eaton Vance Wateroak Advisors' primary capital source, high-net-worth individuals, has shifted from 75% to 73% of the firm's total AUM. EVWA holds its assets with multiple custodians including Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and FNZ Trust Company. The firm has several industry affiliations including those with Calvert Research and Management, Eaton Vance Management and Atlanta capital.

- Headquarters: Boston, MA
- Additional Office Locations: 6
- Total Employees: 67
- Total Reps: 26
- Assets Under Management (AUM): $14.6B
- Discretionary AUM: $13.7B
- Non-Discretionary AUM: $869.3M
- Client Base: Individual & Family; Institutional
- Fee Structure: Percentage of AUM; Fixed Fees; Performance-Based Fees
- Specialties: Financial Planning Services; Portfolio Management for Individuals, Small Businesses, Investment Companies, Businesses or Institutions; Selection of Other Advisors


FINTRX provides comprehensive data intelligence on 750,000+ family office & investment advisor records, each designed to help you identify, access, and map the private wealth ecosystem. Explore in-depth dossiers on each family office & investment advisor. Access AUM, source of wealth, investment criteria, previous investment history, sectors & industries of interest, advisor growth signals, amongst other key data points.

Additionally, FINTRX provides insight and expansive contact information on key decision-makers, featuring job titles, direct email addresses, phone numbers, common connections, alma maters, past employment history, brief bios & much more.

 

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