Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Fixed Fees (Other than subscription)
Northeast Financial Overview
Northeast Financial is a fee-only registered investment advisory firm located in Westport, CT that has been in business since 2001. As an accounting firm that provides investment advice, the firm offers a range of services to its clients. These include financial planning, portfolio management for individuals and small businesses, and selection of other advisors. The firm's fee-only arrangement means that it charges clients for its advice and services rather than earning commissions on the products it sells. With a focus on providing customized solutions to meet clients' financial needs, Northeast Financial has established a reputation for excellence in the industry. Its headquarters in Westport, CT serves as the hub for its operations, allowing it to provide a high level of service to clients throughout the region. With two decades of experience, the firm has developed a strong understanding of the needs of its clients and the strategies that can best support their goals. Working with Northeast Financial can provide clients with the peace of mind and confidence that comes from working with an experienced and trusted advisor. The firm's fee-only approach ensures that clients receive objective advice that is focused on their best interests. Whether a client is seeking financial planning, portfolio management, or assistance in selecting other advisors, Northeast Financial has the expertise and knowledge to meet their needs.
Northeast Financial caters to a diverse range of clients, including individuals and high net worth individuals. These clients come from various backgrounds and have unique financial goals and needs. The firm understands that each client is different, and therefore, takes a personalized approach to every client engagement. Whether it's retirement planning, investment management, or estate planning, Northeast Financial is equipped to serve its clients' financial needs with utmost care and expertise. Northeast Financial offers flexible fee structures based on the type of service provided. For investment management, the firm charges a percentage of assets under management (AUM) as its fee. This percentage varies depending on the size of the client's portfolio and the complexity of the investments. The firm believes in aligning its interests with those of its clients, which is why the AUM fee structure is preferred. For other services, such as financial planning and estate planning, Northeast Financial charges a fixed fee. The firm provides a transparent fee structure, ensuring that clients are aware of its services' costs upfront. This approach helps build strong client relationships based on trust and transparency. Northeast Financial is committed to providing its clients with competitive and flexible fee structures, ensuring top-quality and reliable financial services.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for Northeast Financial does not mention their investment minimum. It is unclear what the minimum amount of money required to invest with this firm would be, and interested parties will need to contact Northeast Financial directly to inquire about their investment minimum.
How This Office Can Help Westport, CT Residents
Northeast Financial Consultant, Inc is a financial planning firm that aims to assist clients in Westport, CT in navigating their unique financial situations. Located in the heart of Westport, their team of experienced professionals utilizes a personalized approach to guide each client towards achieving their financial goals. Residents in Westport, CT may face a variety of financial challenges, including planning for retirement, managing current investments, and determining the best course of action for estate planning. Northeast Financial Consultant, Inc can help clients navigate these challenges through services such as investment management, financial planning, and retirement planning. In addition, they offer specialized guidance in areas such as tax planning, risk management, and long-term care planning. Overall, Northeast Financial Consultant, Inc provides Westport residents with comprehensive financial advice and tools to help them build a secure financial future.
Services Offered by Northeast Financial
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 Northeast Financial 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.
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.
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)
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
Northeast Financial is registered to service clients in the following states:
- Arizona
- California
- Connecticut
- Florida
- Massachusetts
- New Jersey
- New York
- Pennsylvania
- Rhode Island
- South Carolina
- Texas
Disciplinary History
Northeast Financial does not have any disclosures. Please visit it's Form ADV for more details.