October 28, 2019
It began with a vision of creating a client-focused, commonsense wealth management company and a single client with $140,000 to invest. Twenty-five years later, Adviser Investments serves over 3,500 clients nationwide who’ve entrusted the firm with more than $5 billion. The original mission continues even as the company has become one of the country’s leading independent financial advisers.
In recognition of the milestone anniversary, the firm held a party for employees and their families so we could all celebrate together. With pizza, falafel and barbecue trucks, cotton candy and gelato stations, face-painting and carnival games, stilt-walkers, clowns, magicians and make-your-own-t-shirt stations—just some of the attractions—not only was it fun for all ages, but also a party for the ages.
“We’re proud and humbled to celebrate 25 years of helping people achieve the peace of mind that results from working with a financial adviser that you can actually talk to,” said Adviser Investments Chairman and Co-founder Dan Wiener. “Through markets good and bad, what’s remained consistent is our personalized care for our clients and our commitment to exceeding expectations for both those who entrust us with their hard-earned dollars and for the employees who’ve been crucial to our success.”
Adviser Investments was formed in 1994 in part to meet the demands of subscribers to Wiener’s newsletter, The Independent Adviser for Vanguard Investors, who wanted him to oversee their portfolios. That motivating factor evolved into the firm’s enduring pursuit of providing institutional-quality asset management and financial planning services while remaining within reach of a wide range of clients.
“What’s remained consistent is our personalized care for our clients and our commitment to exceeding expectations for both those who entrust us with their hard-earned dollars and for the employees who’ve been crucial to our success,” said Adviser Investments Chairman and Co-founder Dan Wiener.
Today, Adviser Investments offers expertise in actively managed mutual funds, ETFsA type of security which allows investors to indirectly invest in an underlying basket of financial instruments (these may include stocks, bonds, commodities or other types of instruments). Shares in an ETF are publicly traded on an exchange, and the price of an ETF’s shares will fluctuate throughout the trading day (traditional mutual funds trade only once a day). For example, one popular ETF tracks the companies in the S&P 500, so buying a share of the ETF gets an investor exposure to all 500 companies in the index., individual stocksA financial instrument giving the holder a proportion of the ownership and earnings of a company. and bondsA financial instrument representing an IOU from the borrower to the lender. Bond issuers promise to pay bond holders a given amount of interest for a pre-determined amount of time until the loan is repaid in full (otherwise known as the maturity date). Bonds can have a fixed or floating interest rate. Fixed-rate bonds pay out a pre-determined amount of interest each year, while floating-rate bonds can pay higher or lower interest each year depending on prevailing market interest rates., socially responsible investments, tactical strategies and financial planning, with the added signature proficiency in the Vanguard and Fidelity fund families—delivering the resources and capabilities of a large firm with the care and attention of a small one.
“While we celebrate the past that has brought us to this humbling anniversary, our continuing mission at Adviser Investments is to improve the quality and range of wealth management services we offer,” said President, CEO and Co-founder Dan Silver. “We’re committed to building a firm that will provide exceptional investment and financial planning expertise to our clients and their families for generations to come. We celebrate each other at this landmark milestone, but our true success is our clients’ satisfaction with our partnership.”
While Adviser Investments has expanded organically, acquisitions have also been a key growth driver. Bringing key talent in-house began in 1999 with the addition of Chief Investment Officer Jim Lowell and his deep Fidelity expertise. The 2011 acquisition of leading competitor Kobren Insight Management added a strong cadre of relationship and investment research personnel to Adviser Investments’ fold. In 2017, the firm acquired Braver Wealth Management, enhancing financial planning capabilities and tactical investment product offerings.
“While we celebrate the past that has brought us to this humbling anniversary, our continuing mission at Adviser Investments is to improve the quality and range of wealth management services we offer,” said President, CEO and Co-founder Dan Silver.
As Adviser Investments has grown in prominence, national publications have taken notice. For the seventh consecutive year, the firm was named to Barron’s list of the top 100 independent financial advisers nationwide and its list of the top advisory firms in Massachusetts in 2019. Adviser Investments has also been recognized on the Financial Times 300 Top Registered Investment Advisers list in 2014, 2015, 2016, 2018 and 2019.
In October 2016, the firm received Fidelity’s Be Greater award, which recognizes registered investment advisers who are evolving their businesses to meet ever-changing demands of a growing and sophisticated investor class. Fidelity singled out Adviser Investments among those RIAs with more than $1 billion in total assets under management that use its custodian and record-keeping services.
Despite those wide-ranging honors, the firm’s leadership say the best is yet to come.
“We’ve invested heavily in our mentorship program and are seeing very promising results in developing the next generation of leadership,” Wiener said. “And we are also always on the lookout for acquisition opportunities that can add investment and financial planning talent to our already deep bench of professionals.”
The firm’s commitment to workplace culture and professional development has also garnered attention. In 2019, for the fourth year in a row, Adviser Investments was named among Boston’s Best and Brightest Companies To Work For®, while InvestmentNews placed it on its list of the “Best Places to Work for Financial Advisers” for the second straight year. Adviser Investments has also been honored for the past three years as one of Pension & Investments’ “Best Places to Work in Money Management.”
“We are honored by the accolades we’ve received over the years,” said Silver, “none more so that the recognition of our unique workplace culture. We recognize the skill and dedication of our employees and strive to create an environment where their unique talents can shine. Because of this, Adviser Investments consistently attracts and retains talented individuals—even in this competitive labor market—to the benefit of both our clients and our entire team.
“As we celebrate our 25th anniversary, Adviser Investments’ scope ranges from coast to coast in partnering with clients nationwide,” Silver said. “But we continue to offer the same personalized service we did when we were one-tenth the size, and we expect to do so for decades to come.”
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Barron’s Top 100 Independent Wealth Advisors rankings reflect the volume of assets overseen by participating advisers and their teams, revenues generated for the firms and the quality of the advisers’ practices, as determined by its editors. Barron’s Top Massachusetts Financial Advisors rankings consider factors such as assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work.
The Financial Times 300 Top Registered Investment Advisers (2019) is an independent listing produced annually by the Financial Times and Ignites Research (June 2019). According to the Financial Times, approximately 2,000 firms were invited to be considered for its list; 740 responded. The listing reflects each practice’s performance in six primary areas: Assets under management (70%–75% of a firm’s score), asset growth (15% of a firm’s score), years in existence, compliance record, credentials and online accessibility. Neither the participating firms nor their employees pay a fee to the Financial Times in exchange for inclusion in the FT 300.
The 2016 Fidelity Be Greater Awards were open to current clients of Fidelity Investments who met certain eligibility requirements, including but not limited to (1) at least $50 million in total assets under management, (2) more than two full-time employees, (3) in business for four years or more prior to January 1, 2016, (4) not under investigation by any regulatory or government agency or enforcement division, and (5) completed the program application, and acknowledged and agreed to the terms and conditions set forth in the program rules and regulations.
The Be Greater Award does not include client surveys or testimonials as part of its analysis; thus, the award does not reflect the individual experience of any client or group of clients.
Pensions & Investments’ Best Places to Work in Money Management award is conducted by research firm Best Companies Group (BCG). Participating firms and their employees complete surveys assessing corporate culture and communications, role satisfaction, work environment, relationship with supervisor, training, development and resources, pay and benefits and overall engagement. BCG analyzes the results and ranks participating firms, which must have an office in the United States, at least 20 employees and $100 million in regulatory assets under management, and have been in business for at least one year.
InvestmentNews’ Best Places to Work for Financial Advisers Award is based on responses to surveys voluntarily completed by participating firms. Firms do not pay a fee to participate. InvestmentNews conducts the survey, evaluates participating firms’ ability to attract and retain talented employees and then ranks the firms. To be eligible for the award, firms must be a registered investment adviser or broker-dealer; be in business for at least one year and have at least 15 full-time employees.
Boston’s Best and Brightest Companies to Work For® award evaluates the following categories, among others: Compensation, benefits and employee solutions; employee enrichment, engagement and retention; employee education and development; recruitment, selection and orientation; employee achievement and recognition; communication and shared vision; diversity and inclusion; work-life balance; community initiatives and strategic company performance.
Awards referenced herein do not evaluate client experience or investment performance and are not indicative of future performance. Awards and rankings are generally based on information submitted by the participating firms. Adviser Investments, LLC, does not pay a fee to participate in any of the awards referenced above.