Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
Heritage Financial Services, LLC Overview
Heritage Financial Services, LLC is a registered investment advisory firm specializing in investment advice. Founded in 2005, the firm has been providing its services for over 15 years, earning a reputation for excellence in the industry. Heritage Financial Services operates based on a fee-only arrangement, meaning that clients are charged a fixed fee for services provided, rather than commission-based charges. The firm is headquartered in Westwood, MA, and serves individuals and small businesses across the United States with their financial planning and portfolio management needs. As an investment advisory firm, Heritage Financial Services does not engage in any other financial activity, ensuring a dedicated focus on investment advice only. The range of services offered by Heritage Financial Services is focused on financial planning and portfolio management. The firm works closely with clients to provide tailored solutions that fit their investment goals and objectives. Heritage Financial Services provides a holistic approach to financial management, and utilizes a variety of investment strategies to help clients maximize returns while minimizing risk. Whether it's helping clients plan for retirement or managing an investment portfolio, Heritage Financial Services is there to help.
Heritage Financial Services, LLC caters to a diverse range of clients that includes individuals, high net worth individuals, and charitable organizations who seek personalized financial services. Whether it's creating a retirement plan, managing investments, or estate planning, the firm offers tailored solutions that meet the unique needs of its clients. Heritage Financial Services, LLC believes in providing a client-focused approach to financial planning that takes into account each client's specific goals and objectives. The firm's experienced and certified advisers work in collaboration with their clients to develop and execute effective investment strategies that are designed to achieve long-term financial success. When it comes to fee structures, Heritage Financial Services, LLC provides clients with options that best suit their needs and objectives. Depending on the service provided, the firm offers varying fee structures such as a percentage of AUM (Assets Under Management). The percentage of AUM is calculated as a percentage of the client's total investment portfolio that is managed by the firm. This fee structure ensures that the client's interests are aligned with the firm's interests, as it incentivizes the adviser to generate returns that are beneficial to the client. Additionally, Heritage Financial Services, LLC also offers clients fixed fees for certain services, hourly rates for consultation, and commission-based structures in certain areas of the business. In general, the firm's fee structures are transparent, reasonable, and competitive in the industry.
Typical Clients, Fee Structures & Investment Minimum
According to HERITAGE FINANCIAL SERVICES, LLC's Part 2 Brochure, the minimum household size to obtain advisory, financial planning and asset management services is generally $1,000,000. However, households below this minimum may be accepted at their discretion. They also note that the performance of smaller accounts may vary from the performance of accounts with more dollars invested, since smaller accounts may have more concentrated portfolios.
How This Office Can Help Dedham, MA Residents
Heritage Financial Services, LLC is a financial services company that helps clients in Dedham, MA navigate the complexities of their financial situations. They offer a wide range of services, from investment management to retirement planning and estate planning. Heritage's team of financial planners work closely with clients to understand their unique needs and goals, and develop personalized plans to help them achieve financial success. For someone living in Dedham, MA, there are a number of financial situations they may face. For example, they may be facing high living expenses or struggling with debt. They may also need help planning for retirement, managing their investments, or protecting their assets through estate planning. Heritage Financial Services, LLC is well-positioned to assist with these situations, offering customized solutions that take into account the specific needs of each client. Through careful planning and management, Heritage helps clients in Dedham, MA achieve financial stability and secure their future.
Services Offered by Heritage Financial Services, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Heritage Financial Services, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Unavailable
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Subscription (Newsletter or Periodical)
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Heritage Financial Services, LLC is registered to service clients in the following states:
- California
- Connecticut
- Florida
- Georgia
- Illinois
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Rhode Island
- South Carolina
- Texas
- Vermont
- Virginia
Disciplinary History
Heritage Financial Services, LLC does not have any disclosures. Please visit it's Form ADV for more details.