A New England State with a ton of charm in its seaside towns and sandy shores, Rhode Island might be small, but it still has plenty going for it and plenty of people (more than a million) living in it. Additionally, with strong health care and tourism industries (among others), Rhode Island reveals itself as a place for people to enjoy life and find their success. Yet if you’re one of those people, you might need help getting your finances in order. Fortunately, there are also plenty of financial advisors working in the city. We reviewed them and picked out our top choices.
Here are our top five choices for financial advisory firms in Rhode Island:
Corrigan Financial, Inc
A firm that has been around for more than 25 years, Corrigan Financial, Inc, located in Middletown, has nearly $736 million in assets under its management. They offer comprehensive financial planning services, investment advisory services, tax planning & preparation, corporate pension plan services, and philanthropic planning services.
They don’t believe in market timing as an investment strategy. Instead, they choose portfolios that are diversified to minimize risk while maximizing potential returns. They also perform benchmarking on portfolios and update them regularly. They won’t let your assets go unattended.
Corrigan Financial, Inc is a fee-only firm that has no set minimum account requirement to work with them.
You can expect the following working with Corrigan Financial:
- A financial plan framework that is designed for tax efficiency as well as successful wealth accumulation.
- A careful exploration of your lifestyle, personal preferences, and goals to create a plan for you.
- A firm that gives back to the community.
McGuire Wealth Management
Based in Charlestown, McGuire Wealth Management is run by Dennis McGuire Sr. and his two sons, and has about $334 million in assets under its management. They offer retirement planning services, tax management, estate planning, education funding, risk management, investment management, and employee & executive benefits.
They don’t focus on short term investing, but instead advocate a long-term investing strategy rooted in diversification that might take three or more years. With more than 40 years of experience managing portfolios, they are capable of handling just about any problem. They use technical and fundamental analysis, quantitative analysis, and market sentiment analysis to create investment plans that will work best for you over time.
McGuire Wealth Management is a fee-based firm that has a $1 million minimum account requirement to work with them.
You can expect the following working with McGuire Wealth Management:
- The ability to refer you to qualified tax specialties to ensure your portfolios are tax-efficient.
- A team of advisors who have earned several Forbes Best-in-State awards.
- The use of tools and research to stay on the leading edge of the financial world.
SK Wealth Management, LLC
With nearly $260 million in assets under its management, SK Wealth Management, LLC has an office in Providence. They work with all types of individuals and institutions, offering services including financial planning, investment management, and divorce financial services.
They use a digital portfolio service that has a low-cost automated option, and you can take advantage of that no matter the size of your assets to grow your portfolios. They also have advisors with vast institutional experience when it comes to dealing with different clients in complex financial situations.
SK Wealth Management, LLC is a fee-only firm that has a $500,000 minimum account requirement to work with them.
You can expect the following working with SK Wealth Management:
- A mindset that is always focused on your long-term financial security.
- Services that can help you plan with the next generation in mind.
- Additional services such as women-focused financial planning.
Loring Advisory Group
Loring Advisory Group is based in Greenville and has about $250 million in assets under its management. They mostly work with families and small businesses, providing services such as personal family planning, business management, investment management, retirement planning, estate planning, social security & medical analysis, care and disability, and tax planning services.
They use a holistic approach to create a financial plan that meets your specific needs and educate their clients so that they can understand all the strategies used. They place a great amount of importance on the client-advisor relationship.
Loring Advisory Group is a fee-based firm that has a $500,000 minimum account requirement to work with them.
You can expect the following working with Loring Advisory Group:
- Educational programs to keep clients well-informed about the financial world.
- A team of advisors who can handle complex financial situations.
- Weekly or monthly market updates.
Wealth Management Resources, Inc
A firm that has been working since 1994, Wealth Management Resources, Inc, located in North Smithfield, has a bit more than $141 million in assets under its management. They provide investment management and financial planning services to individuals, professionals, and companies.
They work on educating their clients, building up your level of insight and confidence in financial decisions. They won’t make any decision or adjustment that you’re not well-informed of. They involve you every step of the way.
Wealth Management Resources, Inc is a fee-based firm that has a $150,000 minimum account requirement to work with them.
You can expect the following working with Wealth Management Resources:
- A firm that provides financial advice during life events such as marriage, childbirth, or the death of a loved one.
- Rebalancing and ongoing review of your portfolio.
- Quarterly follow-up meetings or reports.
Finding and working with a top financial firm can be tricky. This is why we have taken our time to make the process of finding a firm easier by providing you with this list. We find it vital that people find the financial help they need, considering how the world can move too quickly for someone to work and keep track of their finances at the same time. However, we urge you to look deeper into each firm’s offering to make sure it fits all your financial needs. We hope you get the advisory firm you need to achieve financial freedom.