RIA Industry Spotlight: Top Firms in Boston

To shine a light on the Registered Investment Advisor (RIA) landscape, FINTRX - Family Office & 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...

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 850,000+ 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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