Cutler Capital Management

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Client assets under management

$280,193,816

Clients

124

82% high-net worth

Advisors

of 9 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

Typical

Average account size

$2,259,628

About

Cutler Capital Management provides discretionary portfolio management and financial planning to individuals (including high‑net‑worth clients), trusts, estates, retirement plans and private investment funds. The firm manages separately managed accounts and serves as the general partner and investment manager of private funds, and delivers tailored advisory services based on each client's objectives and risk tolerance.

The firm’s investment approach emphasizes convertible securities, concentrated exposure to the financials sector (notably community banks), and public real estate securities (REITs), using both fundamental and technical analysis. Cutler may implement strategies across separately managed accounts and funds that include convertible ETFs, margin and leverage, short selling and option strategies, and seeks to diversify holdings across sectors and market capitalizations.

Compared with many peers, Cutler’s business includes pooled investment vehicles and private fund management alongside individual account management, and it offers performance‑based fee arrangements for qualified clients and certain fund classes. The firm discloses performance results to investors (quarterly letters showing year‑to‑date, after‑fee performance), aggregates trade orders across account types, and documents allocation procedures that may prioritize opportunistic or illiquid opportunities for the funds and related accounts, creating specific allocation and conflict‑of‑interest considerations that the firm addresses in its policies.

Client services

Financial planning Portfolio management

Expertise

Concentrated stock management Real estate investing Active portfolio management Options & derivatives strategies Private / alternative investments

Fee options

Fixed

Financial planning services fixed fee between $2,500 and $6,000

Percentage

$0 - $999,999: $1,000,000+: 1.00% annually (fixed management fee for non-qualified clients) $1,000,000+: 0.50% management fee plus 11% performance fee (performance-based fee option for qualified clients)

Performance-based

11% of increase in net market value for performance-based fee option in Separately Managed Accounts; 10%-15% performance fees in Private Investment Funds depending on class

Other

Account minimum: $1,000,000 Minimum fee: $3,000 annually, billed quarterly in arrears Fee-only: Fixed fee for financial planning services generally ranges between $2,500 and $6,000, negotiable

Main office location

Cutler Capital Management

306 Main St, 2 Nd Floor

Worcester MA 01608-1518, United States

Number of offices

Most active in

Florida · Massachusetts · New Hampshire

Disclosures

Business activities & affiliations

Is not active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

LinkedIn Facebook Website 508-757-4455

Advisors at this firm

Michael H

ChFC®, Series 63, Series 65

Worcester, MA

Cutler Capital Management

Michael Hogan is a ChFC® credentialed financial advisor with 38 years of industry experience. He has worked at Cutler Capital Management since 2019 and previously held roles at Wellesley Investment Advisors, Foreside Fund Services, and had a brief period of unemployment. Outside of his advisory work, he serves as secretary on the board of Fashion for Friends, a nonprofit focused on mental health awareness and suicide prevention supporting women with breast cancer. Cutler Capital Management is a SEC-registered investment adviser serving individuals, trusts, retirement plans, and pooled private investment funds. The firm specializes in convertible securities, financial-sector equities, and publicly traded REITs, employing both fundamental and technical analysis and using various hedging and leverage techniques tailored to client objectives and risk tolerance.

Concentrated stock management Real estate investing Active portfolio management Options & derivatives strategies Private / alternative investments

Geoffrey D

CFA®, Series 65

Worcester, MA

Cutler Capital Management

Geoffrey Dancey is a CFA® charterholder and holds a Series 65 license, with 22 years of industry experience. He has been with Cutler Capital Management LLC since 2003, working in Worcester, MA as part of a six-person advisory team. Cutler Capital Management is a SEC-registered investment adviser serving individuals, trusts, retirement plans, and pooled private investment funds. The firm specializes in convertible securities, financial-sector equities with a focus on community banks, and publicly traded REITs, using both fundamental and technical analysis to construct portfolios aimed at current income with upside potential and managed downside risk.

Concentrated stock management Real estate investing Active portfolio management Options & derivatives strategies Private / alternative investments

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