Best Financial Advisors in Worcester

Find top-rated local financial advisors who can help you achieve your financial goals with personalized strategies and expert guidance.

Find an Advisor Estimated Advisor Fees
180+
Advisors
4.6/5.0
Average Rating

Worcester Financial Landscape

Worcester's economy is diverse, with strong sectors in healthcare, education, and manufacturing. The city is experiencing growth, driven by a revitalized downtown and educational institutions.

Major industries
Healthcare, Education, Manufacturing
Population
182.5K (metro: 1.0M)
Median household income
$65,000
Unique needs
Worcester requires targeted economic diversification to mitigate risks in healthcare and education sectors.
Market Insights
Economic Growth
According to BEA (2023), Worcester's GDP grew by 3.2% in the last year, driven by healthcare and educational services.
Wealth Demographics
According to Census (2023), the median household income in Worcester is $65,000, with a growing number of high-income households.
Advisor Specializations
Based on BLS (2023), financial advisors in Worcester are increasingly focusing on retirement planning and wealth management.
Local Considerations
Cost of Living
According to BLS (2024), Worcester's cost of living is 10% lower than the national average, making it attractive for new residents.
Real Estate Market
According to Zillow (2024), home prices in Worcester have stabilized, with a slight increase of 2% year-over-year, indicating a balanced market.
Business Environment
According to Fortune (2024), Worcester's business climate is improving, with incentives for startups and a supportive local government.

Top 5 Financial Advisors in Worcester

Carr Financial Group | Financial Planning | Wealth Management
★ ★ ★ ★ ★ 5
Worcester Advisors
★ ★ ★ ★ ★ 5
Joffrey Smith Financial Group
★ ★ ★ ★ ★ 5
Larson, Potter, Stratton & Cote Financial
★ ★ ★ ★ ★ 5
Forward Financial Services, Inc
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Worcester, consider these essential factors

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Fiduciary Standard
Prioritize advisors who commit to acting as fiduciaries 100% of the time, legally obligating them to put your interests first.
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Worcester-Specific Expertise
For Worcester residents working in Healthcare, Education, Manufacturing, consider advisors with specific experience in your industry's unique compensation and benefit structures.
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Fee Structure Transparency
Understand how your advisor is compensated—whether through fees, commissions, or a combination—and how this might influence their recommendations.
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Credentials
Seek advisors with recognized credentials such as CFP®, CFA, or ChFC designations, indicating advanced training and ethical standards.
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Communication Style
Choose an advisor whose communication approach matches your preferences regarding frequency, detail, and method of interaction.
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Risk Management Focus
Worcester's healthcare focus poses risks; diversify investments. Real estate is cooling, watch for bubble signs. Flooding and winter storms are concerns.

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Find Financial Advisors in Nearby Cities

Explore financial advisor options in these nearby Massachusetts locations

Boston Worcester Springfield Lowell Cambridge New Bedford Brockton Quincy