Top Financial Advisors in Providence, RI

Serving only high-net-worth individuals and their families, Rex Capital Advisors manages millions in assets. According to its most recent U.S. Securities and Exchange Commission (SEC) filing, the boutique wealth manager is fee-only and employs seven advisors.

Rex also offers its services to the trusts, estates, charitable organizations, corporations and other business entities under the control of its substantially wealthy clients. The minimum investment is $10 million. Accounts are on a discretionary or non-discretionary basis.

Rex Capital Advisors Background

Principal owner Arthur Duffy founded the firm in 1998. It also manages a small private equity fund, Rex Advisors CB Investors 2014, LLC. About 22% of the practice’s clients invest in it.

Rex’s minority owners are CFO Matthew Thibault, COO Michael Chase and Timothy Devlin, a portfolio manager.

The firm offers investment management and financial planning services. Clients with more than $50 million receive full-service family office services, which include investment advisory and financial planning services, estate and tax planning guidance and risk management advice. Rex may also advise them on investments of real estate, art and other non-security assets. On a case-by-case basis, clients with less than $50 million may receive some of these services, too. 

Rex Capital Advisors Investment Strategy

Led by Duffy, the investment team formulates its views on the market and various investment products and determines which clients would benefit from them. Clients’ portfolios are allocated based on their goals, risk tolerance and other circumstances. Rex describes its approach as:

• Long-term 

• Concerned with capital preservation 

• Focused on employing broad portfolio diversification 

• Cost-conscious 

• Tax-aware 

• Estate plan-centric 

• Open-access (not tied to any one firm’s products)

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Parsons Capital Management (PCM) portfolio managers have more than 200 years of experience, having worked at such places as Merrill Lynch, Paine Webber, Drexel Burnham and Fleet Investment Advisors. They include one certified financial planner (CFP) and two chartered financial analysts (CFAs).

The fee-only firm serves mostly high-net-worth clients, and it has no minimum account size. All accounts are discretionary, which means PCM managers may make trades without consulting clients. PCM also has qualified retirement plans, corporate pension and profit-sharing plans, charitable institutions, endowments, trusts, estates, foundations and corporations as clients.

Parsons Capital Management Background

As large as PCM is, it is a bit of a family affair. It was founded by the Parsons brothers, Bob and Ged, in 1993. Ged’s son Bates has since joined the firm. There’s also mother-son duo Ruth and John Mullen at the practice.

The elder Parsonses are majority owners. President Peter Hunt, who has been with PCM almost since the beginning, has a minority stake, as does long-time staffer Stacey Sternberg. 

In addition to investment management, the firm offers financial planning, estate planning, help with tax issues and consulting services related to portfolio and security analysis. 

Parsons Capital Management Investment Strategy

PCM will recommend a portfolio with targets for the different asset classes (common stocks, fixed income securities, cash equivalents and, where appropriate, alternative investments) and manage the portfolio within set ranges of the targets. When selecting stocks, the firm says it focuses “on the long term and blends earnings-driven growth forecasts with quantitative value screens from a broad universe of large-, mid- and small-capitalization stocks, both domestic and international.” All managers are involved in the investment process. 

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With hundreds of millions in assets under management, Endurance Wealth Management is the second largest firm on our list. Its team of investment managers includes one chartered financial analyst (CFA) and one certified financial planner (CFP). Having previously worked at such firms as Fleet Investment Advisors and Arlen Capital and on Wall Street, the team members have more than a combined 200 years of experience in the financial services industry and investment fields.

The fee-only firm serves high-net-worth and non-high-net-worth clients. It also counts pension and profit sharing plans, charitable organizations, trusts, estates, corporations and other business entities as clients. Investment accounts are at least $1,000,000, though they may accept a smaller amount, particularly for a client’s family member. Except for one, all accounts are on a discretionary basis.

Endurance Wealth Management Background

Endurance was founded in 2009, but it actually existed for a dozen years before then as the branch office of another firm. Founder, President and majority owner Michael Costello took it independent with two other core members of the office. Vice President Peter Corsi, Donald Clarke and Thomas Gardner have small stakes in the practice.

The firm primarily provides investment advisory services and manages investment accounts. It also offers financial planning services in certain circumstances.  

Endurance Wealth Management Investment Strategy

Endurance takes the long view with investing, believing that frequent, short-term trading cannot perform well. As a result, its annual turnover ratio averages between 15% and 20%.  

The firm will customize a portfolio based on the client’s needs, goals and profile. Investments in equities may include:

• Exchange-listed securities
• Securities traded over the counter
• Foreign issuers 
• Exchange-traded funds (ETFs) 
• Options 
• Warrants 

Endurance may also invest in money market mutual funds, high-grade commercial paper, certificates of deposit (CDs) repurchase agreements secured by U.S. government securities as well as in mutual funds (for small, related family accounts). It will honor client restrictions based on socially conscious grounds.

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Unlike the other advisory groups on this list, StrategicPoint Investment Advisors is a wholly owned part of Focus Financial Partners, Inc., which is a publicly traded company on the NASDAQ Global Select Market. 

StrategicPoint is fee-based and employs multiple advisors, including five accredited investment fiduciaries (AIFs), two chartered life underwriters (CLUs), two certified financial planners (CFPs), one chartered financial consultants (ChFCs), one chartered financial analyst (CFA), one registered financial consultant (RFC), one licensed international financial analyst (LIFA) and one accredited pension representative (APR)

Non-high-net-worth clients outnumber high-net-worth clients more than two to one. The firm also serves retirement plans under ERISA. It requires a minimum $250,000 to open a discretionary investment account, though they may consider smaller accounts.

StrategicPoint Investment Advisors Background

StrategicPoint is part of a family of other registered investment advisors, broker-dealers and other financial service firms. In addition to its parent company, the firm has minority owners: CIO Betsey Purinton, CCO Richard Anzelone and Derek Amey.

With a branch office in East Greenwich, the firm offers investment management, financial planning, sustainable investing and retirement plan advisor services. It registered as an investment advisor with the U.S. Securities and Exchange Commission (SEC) in 2002.

StrategicPoint Investment Advisors Investment Strategy 

StrategicPoint’s customized portfolios generally fall into five categories:

• Income
• Conservative 
• Balanced 
• Growth
• Aggressive Growth 

For each portfolio, StrategicPoint will monitor and shift assets and sector rotations within a target range, based on its market and economic analyses. If requested, the firm can integrate its sustainable investing services, which, as they sound, add environmental, social and governance factors to its investment review process.

While individuals make up the bulk of New England Investment Consultants’ (NEIC) client base, its pension advisory side of the business represents more than half the assets under its management. The fee-based firm oversees a significant amount in assets.

The firm's advisors manage accounts only on a non-discretionary basis, which is to say, they won’t sell or buy assets without consulting clients first. High-net-worth individuals outnumber non-high-net-worth more than three to one. The minimum required to open an investment account is $250,000.

New England Investment Consultants Background

Sergio DeCurtis founded NEIC in 2006. The firm’s president and sole owner, he is also an accredited investment fiduciary (AIF). The firm offers investment management, financial planning and consulting and advisory services to retirement plans and plan participants.

New England Investment Consultants Investment Strategy  

NEIC primarily recommends portfolios invested in no-load index mutual funds. It believes that asset allocation - and not market timing nor stock selection - drive maximum returns. The firm has a low holding turnover rate, favoring a buy-and-hold approach to asset management. 

The investment team may also consider stocks, foreign issuers, municipal and U.S. government bonds, corporate debt securities, certificates of deposit (CDs) and real estate and oil and gas interests.

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With nearly millions in assets under management, SK Wealth Management’s team boasts a lot of credentials. Its team consists of five certified financial planners (CFPs), two certified public accountants (CPAs), two personal financial specialists (PFSs), one chartered financial analyst (CFA), one chartered alternative investment analyst (CAIA), one chartered retirement planning counselor (CRPC) and one financial paraplanner qualified professional (FPQP).

The fee-only firm serves high-net-worth and non-high-net-worth individuals. Clients also include trusts, partnerships and retirement plans. Most investment accounts are on a discretionary basis. The minimum requirement for SK to manage a portfolio is $500,000.

SK Wealth Management Background

In addition to financial planning and investment management services, SK offers tax preparation, divorce-related services, estate planning, retirement planning and charitable advisory services. The firm was founded in 1998. Of its seven current owners, two are managing members - Jason Archambault and Michael DeCataldo - and one is director of investments. 

SK Wealth Management Investment Strategy

Focusing on the overall composition of an investment portfolio, SK uses both strategic asset allocation and tactical asset allocation strategies to provide consistent returns while managing risk. It invests primarily in mutual funds, exchange-traded funds (ETFs) and separately managed accounts.

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Founded in 1991, Lincoln Capital Corporation is a family firm. Its founder Robert Albert is CEO, and three other Alberts are on the team. Along with three other employees, they manage millions in assets. The team includes three certified financial planners (CFPs) and one chartered financial analyst (CFA).

At the fee-only firm, there are a little more than twice as many non-high-net-worth clients as high-net-worth-ones. The practice also serves trusts, estates, nonprofit organizations and pension and profit-sharing plans. Accounts are mostly discretionary and the minimum investment is $500,000. On a case-by-case basis, it may, however, group related family accounts together to meet the minimum or negotiate a smaller investment.

Lincoln Capital Corporation Background

Lincoln is owned by Robert Allen and his immediate family. As mentioned earlier, three other Alberts join him at the office: Vice President Brittany Albert Moran, General Manager Alexander Albert and Controller Janet Albert.

The practice offers financial planning and investment management. It also offers wealth services that include estate planning, tax planning and insurance and long-term care planning. 

Lincoln Capital Corporation Investment Strategy

Lincoln has what it calls “an open architecture investment platform,” which means its investment selections are not tied to any companies or providers. It primarily focuses on stocks, bonds, mutual funds and exchange-traded funds (ETFs). 

As asset allocation strategies, the firm offers:

• Income Only
• Conservative Balanced
• Balanced
• Equity Tilted Balanced 
• Equity Only

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Sheeley & Partners Wealth Management (SPWM) manages a notable amount in assets. Its advisors have previously worked at Fleet Financial Group, New England Trust and A.G. Edwards and Sons. One is a certified financial planner (CFP).

The fadvisory group accepts both high-net-worth and non-high-net-worth clients. It also serves trusts, estates and pension and profit-sharing plans. All accounts are discretionary. The firm does not list a required minimum investment.

The firm is fee-based, as some advisors earn commissions for selling insurance. While this is a conflict of interest, all must act in the best interest of the client when serving as an advisor.

Sheeley & Partners Wealth Management Background

With 15 years of experience working in investment services for such places as Fleet Bank and New England Trust, Les Sheeley founded his own firm in 1998. He is the sole owner.

The firm offers financial planning, investment management and retirement plan consulting. 

Sheeley & Partners Wealth Management Investment Strategy

SPWM primarily builds portfolios with common stocks, individual bonds and broadly diversified smart beta and multi-factor exchange-traded-funds (ETFs). The latter are low cost and efficient and offer a customizable and efficient approach to investment analysis.

The firm uses these fundamental investment strategies:

• Long-term purchases
• Short-term purchases 
• Trading

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Napatree Capital is a fee-based firm; some advisors earn commissions for selling insurance products, which is a conflict of interest. Still, advisors must act in the best interest of the advisor when working as an advisor.

Napatree works mostly with individuals, the majorty of whom qualify as high-net-worth. The only institutional clients are pension and profit sharing plans. There is no account minimum.

The team includes two chartered market technicians (CMTs) and one chartered financial advisors (CFA).

Napatree Capital Background

Napatree was founded in 2017 and is owned and operated by Jeffrey Liguori and James Maynard.

Services include wealth management, financial planning and retirement plan advisory services.

Napatree Capital Investment Strategy

Just over half of the money managed at Napatree is put into stocks, while around two-thirds is invested in mutual funds. Bonds, derivatives and cash holdings are also used.