The Patriot Financial Group, LLC

CRD#172470
Investment Advisor Firm

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Overview

The Patriot Financial Group, LLC is a financial advisor firm located in Westborough, Massachusetts. The company controls $1.6 billion in assets over 5,972 client accounts, making it one of the biggest firms in the country by assets under management (AUM). The company has an average-sized group, including 53 financial advisors. The Patriot Financial Group, LLC does not act as a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are defined as tradable fiscal assets such as bonds, equities and options.

The Patriot Financial Group, LLC manages all of the firm's client assets on a discretionary basis. Discretionary management is a structure in which transaction decisions are made by a portfolio manager without needing the client's permission. The company's typical account size is $272,900. An average advisor at The Patriot Financial Group, LLC manages about 113 client accounts.

The company's central office is at 182 Turnpike Road, Westborough, Massachusetts 1581. The company is legally allowed to provide services to customers across 31 U.S. states and territories.

Assets Under Management

$1.6 billion

Number of Advisors

53

Disclosures

No

Office Location

182 Turnpike Road
Westborough, MA 01581

The Patriot Financial Group, LLC by the Numbers

Total Assets Under Management

$1.6 billion

National Average: $8.6 billion
Total Number of Employees

75

National Average: 64
Total Number of Accounts

5,972

National Average: 375,227
Average Account Size

$272.9 thousand

National Average: $23.0 thousand
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Products and Services

The Patriot Financial Group, LLC offers multiple services, which can consist of financial planning services, portfolio management for individuals and small businesses, pension consulting services and selection of other advisers. In the past fiscal year, The Patriot Financial Group, LLC provided financial planning services to 26-50 of its clients. It does not sell products or offer services other than investment advisory services to its investment advisory customers. The firm also has a number of financial industry affiliations, including with a lawyer or law firm and insurance company or agency.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advice typically depend on which service is provided. However, fee types billed by the company most likely are comprised of any blend of the following fee structures: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are provided by The Patriot Financial Group, LLC.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The Patriot Financial Group, LLC works with a broad range of customers. The company caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 5,972 clients, The Patriot Financial Group, LLC's largest client by number of accounts is retail investors, though it also serves 185 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its accounts reside abroad.

  • High-Net-Worth Individuals* - 6.48%
  • Other Individuals - 87.64%
  • Corporations - 5.85%
  • Charitable Organizations - 0.04%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

The Patriot Financial Group, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at The Patriot Financial Group, LLC

Seth Neben
Omaha, NE
Christopher Eddy
Newfields, NH
Joseph Bakaysa
Shrewsbury, MA
Joffrey Smith
Westborough, MA
Theodore Provo
Shrewsbury, MA
Maxwell Lavelle
Westborough, MA
Rhonda Bernier
Westborough, MA
Jacob Murray
Westborough, MA
Ellis Pfahl
Westborough, MA

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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