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Choosing a financial advisor in New Hampshire can feel challenging given the number of options in this New England state. What’s more, an advisor recommended by a family member or friend may not be the best one for you. To find the right professional for you and your family, it really comes down to figuring out the proper fit. Thus, you must understand your financial needs and goals, as well as how much you’re willing to spend.
The process also involves comparing firms and data points, so we’ve compiled the most important information to help guide your decision. To determine the best advisors in New Hampshire, we only considered firms that manage individual accounts and offer financial planning services. We then ranked these firms based on assets under management (AUM), which serves as a general metric for a firm’s size. Although not formally part of our ranking, we encourage readers to take note of each firm’s client-to-advisor ratio, as this indicates how much attention you may get as a client. All data used in our methodology is taken from each firm’s most recent Form ADV filing with the SEC so as to ensure the accuracy and reliability of our rankings.
Our ranking can’t predict which firm may be the best fit for you, but it can help make the search for a financial advisor easier. Check out our list below for the top firms in New Hampshire and their key highlights:
How much would you like to invest?
|Firm||Headquarters||Minimum assets required||Fee structure|
|Lake Street Advisors||Portsmouth||None, although clients typically invest $20 million or more||A percentage of AUM
Other (percent of assets under advisement)
|The Harbor Group, Inc.||Bedford||None||A percentage of AUM
|Charter Oak Capital Management||Portsmouth||None, but $1,250 minimum quarterly fee||A percentage of AUM
|CMH Wealth Management, LLC||North Hampton||None, but minimum $8,000 annual fee||A percentage of AUM
|D.L. Carlson Investment Group, Inc.||Concord||$250,000 suggested, but exceptions exist||A percentage of AUM|
|Affinity Investment Group, LLC||Exeter||$250,000 with minimum annual fee of $3,125, though exceptions exist||A percentage of AUM
|Grove Street Fiduciary, LLC||Peterborough||$2 million for wealth and trust services; clients with smaller accounts work through hourly rates||A percentage of AUM
|BaldwinClarke||Bedford||None, but generally a minimum annual fee of $3,000 for asset management, less for financial planning||A percentage of AUM
|Mascoma Wealth Management||Hanover||None||A percentage of AUM|
|Measured Wealth Private Client Group, LLC||Portsmouth||$250,000 suggested, though may accept smaller accounts||A percentage of AUM
For our search, we looked at firms across the state of New Hampshire. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services. Information used for our methodology criteria is taken directly from each firm’s most recent Form ADV filing and brochure, found on the IAPD database.
To localize our results for this list, we exclusively looked at firms that met the above criteria and had their headquarters in New Hampshire, as per the address provided in the Form ADV. Of those firms, we only considered those that offer financial planning services and portfolio management to individual investors. To be considered for this list, firms also could have no more than one disciplinary disclosure in the past 10 years. From there, the remaining firms that met all of the above stipulations were ranked in order of highest to lowest AUM, as this is an indication of a firm’s size and how many assets it has been entrusted to manage.
In our reviews, we have also listed several other key features that will help you determine which financial advisor may be most fitting for your investing style and financial needs. While our ranking system and methodology is designed to help you compare firms, it does not indicate which firm may be best for you. All information here is accurate as of June 21, 2021, but we urge you to also evaluate these firms on https://adviserinfo.sec.gov/.
Lake Street Advisors caters to the uber wealthy, with clients typically investing $20 million or more. The firm works with over 50 high net worth individuals and families located across the country. These clients are generally what’s known as accredited investors or qualified purchasers, meaning they are sophisticated investors who meet certain wealth thresholds.
The team at Lake Street Advisors offers these clients investment management and financial planning, encompassing everything from cash flow and liquidity reporting to insurance and tax planning to gift and estate planning to financial reporting. The team’s family office services also include paying bills and access to concierge services.
Founded in 2003, the Lake Street Advisors team is based in Portsmouth, N.H., with an additional office in Boston. The firm is part of the Focus Financial Partners LLC group, which is primarily owned by the public company Focus Financial Partners. The group also owns other registered investment advisors as well as brokers, insurers, pension consultants and financial services firms.
The team at Lake Street Advisors invests client money in a custom portfolio depending on each client’s unique circumstances, objective and risk tolerance. The team’s portfolios typically span five major asset classes. Sometimes they use low-cost, tax-efficient index funds and other times use active management.
The firm has its own proprietary model portfolios along the risk spectrum, including a direct conservative model, a direct growth model, a liquid growth model and a direct aggressive model. The team may also use outside advisors for a portion of a client’s account.
The mix of possible investment recommendations runs broad, ranging from mutual funds, exchange-traded funds (ETFs), stocks and bonds to alternatives like hedge funds, private equity and limited partnerships to sophisticated tools including options, futures and warrants. To pick its investment recommendations, Lake Street Advisors uses a mix of analysis methods, including studying individual companies and their industries, as well as looking at technical statistics such as trading activity, price movement and volume.
Lake Street Advisors has a clean record, disclosing no legal or disciplinary events. The Securities and Exchange Commission (SEC) requires all registered investment advisory firms to disclose on their Form ADV any disciplinary or legal actions, including criminal, civil or regulatory events, in the prior decade against the firm, its employees or its affiliates that a potential client would find material when evaluating the firm and the integrity of its leaders.
To learn more, visit the firm’s IAPD page.
The Harbor Group, Inc. was founded in 1981. The firm is owned by its CEO, Marc Hebert, and chief compliance officer, Timothy Riley, who both are certified financial planners (CFPs). The team works out of its single Bedford office.
Most of the firm’s clients are individuals and families, including those who are high net worth (defined by the SEC as having at least $750,000 under management or a net worth of at least $1.5 million). However, the team also can work with institutions such as pension and profit-sharing plans, trusts, estates, charitable organizations and businesses.
Clients rely on the team for portfolio management as well as financial planning, the latter of which may be done as a standalone service or combined with investment management. Financial planning may include discussions of cash flow, taxes, insurance, education, retirement and estate planning. The team also offers business planning, including planning for successions, pensions and employee benefits.
At The Harbor Group, client money is invested globally, primarily in portfolios of no-load mutual funds and ETFs using discount brokers. The team does not strongly emphasize individual stock picking. That said, other investments may be recommended when appropriate such as stocks, bonds and variable life insurance and annuities, as well as occasionally real estate investment trusts. Outside managers may be used for municipal bond management.
The firm determines each client’s investment strategy based on the information they provide about their objectives during consultations.
The Harbor Group discloses no legal or disciplinary actions against the firm or its employees or affiliates over the past 10 years that clients would find materially impacts their views of the firm or the leaders’ integrity. To learn more, visit the firm’s IAPD page.
Since 2002, Charter Oak Capital Management has worked with individuals and families, including those who are high net worth, as well as a handful of institutions such as charitable organizations. The firm’s bread-and-butter services include ongoing portfolio management as well as financial planning and consulting. Topics addressed may include cash flow, retirement, insurance, taxes, estate planning and education planning.
The firm was founded by its managing partner Jeffrey Troiano, who owns the firm along with three other employee partners. Alongside its headquarters in Portsmouth, Charter Oak Capital Management has a second office in Portsmouth and two offices in Maine, in Portland and Kennebunk.
Charter Oak Capital Management works with clients primarily through discretionary relationships, meaning clients give advisors control to place trades in their accounts without first getting client approval. In limited circumstances, advisors may work with clients through non-discretionary relationships.
To make its investment recommendations, the team at Charter Oak Capital Management does not rely on one type of analysis but instead combines many different ways of assessing options. The fundamental aspects considered include a company’s management team, financial health and competitive advantages as well as competitors’ market advantages.
Advisors may recommend unaffiliated money managers for some of a client’s portfolio.
Charter Oak Capital Management discloses no legal or disciplinary actions against the firm or its employees or affiliates in the prior decade that clients would find materially impacts their view of the firm and the integrity of its leaders.
Visit the firm’s IAPD page if you’d like to learn more.
Founded in 2009, CMH Wealth Management, LLC is primarily owned by two key employees: chief investment officer and portfolio manager Brian Carolan, and chief financial officer and wealth advisor Karen McCloskey. The team has a single office in North Hampton, N.H.
The group provides portfolio management and financial planning, the latter which may address a range of topics including retirement, charitable giving, insurance and taxes. Advisors also can help with business transitions and family changes, such as divorce or death.
CMH Wealth Management primarily works with individuals and families, including those who are high net worth as well as those with more modest incomes. The firm charges an $8,000 annual fee. To meet that minimum, accounts smaller than $670,000 will pay a higher than standard asset-based fees. The firm also serves a limited number of institutions including charitable organizations and businesses.
The team at CMH Wealth Management manages client money through discretionary relationships, meaning clients give their advisors the power to place trades in their accounts without the clients giving pre-approval. When clients begin working with the firm, they will have in-depth discussions around their goals, risk tolerance, time horizon, liquidity needs and other unique factors. Advisors then create a portfolio and asset allocation to meet these needs.
The firm’s internal investment committee is responsible for creating the firm’s strategies. They analyze both qualitative and quantitative factors, meaning they dig into the company’s industry, competitive advantages, financial health and management team, as well as mathematical figures such as the firm’s sales.
In the end, client money may be invested in a portfolio solely of mutual funds and ETFs, or one that also includes bonds, stocks and money market instruments. The team does not outsource client money for other investment advisors to manage.
CMH Wealth Management has a clean legal and disciplinary record. The firm discloses no criminal, civil or regulatory actions against the firm, its employees or its affiliates in the prior decade that clients would view as material when assessing the firm and the integrity of its leaders. Learn more by visiting the firm’s IAPD page.
This employee-owned firm was founded in 1989 by its eponymous founder, Dave Carlson. Today, president and CIO Jay Mullins owns more than 25% of the firm. The team works out of its single office in Concord, N.H.
D.L. Carlson Investment Group’s client list includes individuals and families who both are and are not high net worth, as well as a handful of institutions such as pension and profit-sharing plans, charitable organizations and businesses. These clients typically turn to the firm for investment management and financial planning, including planning for retirement, philanthropy or their business. Specific business services including planning to sell or pass the business to the next generation. The firm generally suggests a minimum account size of $250,000.
D.L. Carlson Investment Group customizes portfolios to each client’s unique needs, and factors in tax efficiency. The firm offers three different portfolio investment styles, which have varying fee schedules. These include equity, balanced and fixed-income categories.
The firm’s recommendations typically include stocks, bonds, mutual funds, options, futures, partnership interest and initial public offerings. To generate its investment recommendations, D.L. Carlson Investment Group primarily studies the fundamentals of the investment, though they may also look at technical or other information available. The team places trades for the long term as well as the short term, and uses more complicated margin and options strategies.
D.L. Carlson Investment Group discloses no legal or disciplinary actions, such as criminal, civil or regulatory issues, in the last 10 years that clients would find material to their views of the firm or the integrity of its leaders. To learn more, visit the firm’s IAPD page.
Founded in 1998 by its owner and current chief compliance officer Gregory Gagne, Affinity Investment Group, LLC operates out of a single office in Exeter, N.H. Most of Affinity Investment Group’s clients are individuals and families, including investors deemed high net worth by the SEC, meaning they have at least $750,000 to invest or a net worth of $1.5 million. That said, the team can also serve institutions such as charitable organizations.
Affinity Investment Group manages client investment portfolios as well as provides financial planning and consulting services. Possible topics that can be addressed include cash flow, insurance, education funding, estates and planning for various life events such as retirement. The team can also help its clients identify financial problems. Each client receives a written report. A $250,000 minimum is generally needed for the firm’s portfolio management services, which also require an annual fee of at least $3,125.
Affinity Investment Group invests client money based on the client’s objectives, time horizon, risk tolerance and liquidity needs. To create a client’s asset allocation, advisors generally use a two-pronged core and satellite approach. The core piece uses passively-managed index funds and ETFs, while the satellite portion adds actively managed funds as appropriate.
Portfolios created by the firm typically include no-load or load-waived mutual funds, although other investments such as variable annuities and ETFs may be added when appropriate. The firm aims to achieve global diversification in order to mitigate risk.
Affinity Investment Group discloses no legal or disciplinary actions against the firm or its management personnel or its affiliates in the prior decade that would impact a client’s view of the firm or the integrity of its leaders. View the firm’s IAPD page to learn more.
Grove Street Fiduciary, LLC has been serving clients since 1991. Carl Amos Johnson is the firm’s chief executive officer and chief investment strategist. The firm is owned by the Carl Amos Johnson Revocable Trust and the Forget-Me-Not Blue Trust. The team works out of a single office in Peterborough, N.H.
Grove Street Fiduciary manages client investment accounts, offers financial planning and consulting services and provides trust advisory services. The firm also offers limited pension consulting services. The team can address a gamut of wealth planning topics such as cash flow, taxes, benefits, estate planning, education funding, cash flow, retirement, insurance and more, including business planning.
The client list at Grove Street Fiduciary includes primarily individuals, about half of whom are high net worth. The team also works with institutions like charitable organizations. Clients with more than $2 million in assets to invest will receive the firm’s comprehensive services and pay a percentage of assets under management. The firm notes that its hourly consultations, for which a flat fee is charged, are most appropriate for clients with less than $2 million.
Advisors at Grove Street Fiduciary create custom portfolios for clients based on their objectives, risk tolerance and other personal factors. The firm builds asset allocations to be globally diversified, primarily utilizing ETFs, index funds and no-load indexed mutual funds. However, it notes that tax efficiency is not its primary concern when managing clients’ assets.
To identify their investment recommendations, the team at Grove Street Fiduciary relies on many types of research and analysis. They dig into the individual company and industry, and look for past technical patterns or recurring patterns that could indicate an investment’s future price. They also buy and sell securities for both the long term and the short term.
Grove Street Fiduciary has no legal or disciplinary disclosures on its Form ADV regarding the firm or its employees or its affiliates from within the last 10 years. The SEC requires all registered investment advisors to report such events that clients would find materially impacts their view of the firm and the integrity of its managers.
To learn more about Grove Street Fiduciary, visit its IAPD page.
With roots dating back to 1985, this firm, formally known as Baldwin & Clarke Advisory Services, LLC, has a single office in Bedford, N.H. The group is owned by Baldwin & Clarke Holding Company, LLC, which is equally owned by the firm’s co-founders Charles Baldwin and John Clarke. The holding company also owns an insurance firm as well as an investment banking and business financial consulting firm.
BaldwinClarke has a broad client list, serving middle-income and wealthy individuals and families as well as institutions, such as pension and profit-sharing plans, charitable organizations and businesses. The team offers the typical asset management and financial planning services, as well as estate and wealth transfer planning. The firm’s services for businesses, such as continuity and succession planning, are more specialized. The group also can calculate a fair value for a business.
The team at BaldwinClarke tailors portfolios to each client’s specific circumstances, particularly their short- and long-term objectives and risk tolerance. From there, the firm will make tactical adjustments as needed by the client or as market conditions change.
Client money can be put into global, traditional and alternative asset classes. Funds are typically invested through a combination of separate account managers, mutual funds, structured notes and ETFs. The team offers limited advice on individual stocks and bonds. Tax-sensitive and sustainable strategies are also available.
The team at BaldwinClarke lists on its Form ADV no legal or disciplinary actions against the firm, its employees or its affiliates in the prior 10 years that clients would find materially shifts their view of the firm or its leaders’ integrity. You can view the firm’s IAPD page to learn more.
Mascoma Wealth Management, based in Hanover with an additional office in Norwich, Vt., was originally established in 2013. It is owned by the community bank Mascoma Bank, which is headquartered in Lebanon, N.H.
Most of the firm’s clients are individuals and families, including some deemed high net worth. In general, the team focuses more on managing these clients’ portfolios than on financial planning, but may provide planning and advice as part of an all-inclusive service. In addition to these individual investors, the firm also works with many charitable organizations and a smattering of businesses, government entities and pension and profit-sharing plans.
The team at Mascoma Wealth Management believes that the most important drivers of superior investment returns are asset allocation, geographical diversity and risk management. To decide on its asset allocation recommendations, the team researches many asset classes, paying attention to growth, inflation, interest rates, current valuations, price trends and fiscal policies.
For equity exposure, the team uses ETFs and individual stocks for large, mid and small cap companies based in the U.S. For developing and emerging international markets with more limited volumes and less transparency, the team generally uses ETFs and no-load mutual funds. In general, the team looks for ETFs with broad diversification and low expense ratios.
In addition to the aforementioned domestic and international stocks, bonds, no-load mutual funds and ETFs, Mascoma Wealth Management may recommend other types of securities when appropriate, such as commodities, gold and real estate.
Mascoma Wealth Management has a clean legal and disciplinary record, disclosing no material actions against the firm or its employees in the last decade that would raise questions about the firm or the integrity of its leaders. View the firm’s IAPD page to learn more.
Measured Wealth Private Client Group, LLC has been a registered investment adviser since 2014. The firm is owned by its founder and president Edward Benway, who specifically specializes in estate and business planning. The group is based in Portsmouth and has additional offices in Saco, Maine, and Fort Lauderdale, Fla.
Most of the firm’s clients are middle-income and wealthy individuals and families, including medical professionals, business clients and federal employees. The firm also has a select number of institutional clients such as pension and profit-sharing plans and businesses. Though Measured Wealth Private Client Group generally recommends its services for those with at least $250,000, it may accept smaller accounts at its discretion.
The advisory team offers asset management and financial planning and consulting. The latter may address a variety of topics such as estate planning, retirement planning, charitable planning, insurance, real estate and taxes. Business planning, including tax and corporate structure, is also available. The team also offers pension consulting services to employers.
At Measured Wealth Private Client Group, client money is generally invested in a portfolio consisting of individual stocks, bonds, ETFs, options and mutual funds, among others. Independent managers may also be used.
To determine their recommendations, the team at Measured Wealth mixes a variety of types of research, including quantitative, cyclical, fundamental and qualitative. These methods focus on a variety of factors, ranging from the ins and outs of a company’s industry and financial health, to the overall economic market and conditions. The team buys and sells securities for the long-term and short-term, sometimes even for less than 30 days when advisors see the opportunity for an investment to rerate in the near term. The team also uses margins, options and futures when investing clients’ funds.
Measured Wealth Private Client Group has a clean record, disclosing no legal or disciplinary actions against the firm or its employees or affiliates in the prior decade that clients would view as significant when assessing the firm and its leaders’ integrity. You can learn more about the firm by viewing its IAPD page.
New Hampshire is unique in that it charges no income tax on your W-2 wages, but it does charge a 5% tax on interest and dividends for residents who earn more than $2,400 annually ($4,800 for joint filers). New Hampshire levies no state inheritance taxes or estate taxes. Ultra-large estates could still face the federal estate tax, however.
While most financial advisors invest money that families plan to live on during their retirement, not all financial advisors specifically focus on helping you plan for and ultimately achieve your retirement goals. Some advisors are set up more for asset management, where advisors focus on investing your portfolio. Other advisors take a more holistic approach and can help you figure out how much you’ll need to save for retirement, including factoring in other income and expenses such as Social Security and health care needs. They can then help set you on a path to achieve those goals and, once you approach retirement, figure out an appropriate withdrawal plan to cover your living expenses.
If you are looking for help with planning your retirement, ask all potential advisors about what specifically they do to help people get prepared for their golden years.
To identify the best financial advisor in New Hampshire for you, start by looking for advisors who work with clients with the amount of money you plan to invest, since some advisors require large minimum investment amounts. Next, ask the advisors about the fees they charge, and check whether they offer the services you are looking for. Also look at the advisor’s public disclosures for any legal or disciplinary events, including criminal, civil or regulatory, by searching their firm and the individual advisor’s name at investor.gov/CRS.
From there, you will want to ask potential advisors a number of questions to determine if you think it would be a good fit. The process of finding a financial advisor who is right for you is largely guided by personal preferences.
All financial advisors in New Hampshire must register either with the state or with the SEC, depending on their size. Although advisors may have different designations, they all must pass the necessary exams in order to earn them, if they choose to do so. Some advisors may pass the exam for a certified financial planner (CFP) and others the chartered financial analyst (CFA), among others. Either way, both designations require extensive coursework and exams.
The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.