Richardson Financial Services

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Client assets under management

$220,893,731

Clients

192

55% high-net worth

Advisors

of 6 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

High

Average account size

$1,150,488

About

The firm provides financial planning and portfolio management to individuals (including high-net-worth clients), as well as pension and profit-sharing plans, trusts, estates and business entities. It delivers written financial plans and manages client accounts primarily through the AssetMark and Envestnet wrap-fee platforms, offering SMA, UMA, ETF and mutual fund solutions to tailor portfolios.

RFS selects third‑party managers available on the AssetMark and Envestnet platforms, conducts initial and periodic due diligence (including at least annual reviews of platform oversight), and — when given discretionary authority — may hire, fire or reallocate among managers to match clients’ risk profiles. The firm’s investment programs typically use long‑term manager strategies, with occasional short‑term or tactical trades by third‑party managers, and it emphasizes tailoring recommendations to each client’s circumstances.

Compared with many peers, RFS combines advisory services with multiple non‑advisory affiliations: several principals are registered representatives of a broker‑dealer and licensed insurance agents, the firm is affiliated with an insurance brokerage (JRIB) and an accounting firm (Richardson & Company, P.C.), and a principal holds a governance role at a bank — arrangements the brochure discloses and which can give rise to conflicts of interest (for example, a requirement that certain planning clients use the broker‑dealer for implementation and fee offsets for commissions). The firm reports approximately $256 million in total assets under management across a three‑advisor team and discloses practices to mitigate conflicts, such as fee reductions tied to separate commission or insurance compensation.

Client services

Financial planning Portfolio management Selection of other advisers

Expertise

General retirement planning Income planning General tax planning

Fee options

Fixed

Financial planning fixed fees typically range from $2,000 to $7,500

Percentage

$0 - $250,000: 0.05% - 1.81% (varies by program and manager) $250,000 - $500,000: 0.05% - 1.56% (varies by program and manager) $500,000 - $1,000,000: 0.05% - 1.36% (varies by program and manager) $1,000,000 - $3,000,000: 0.05% - 1.26% (varies by program and manager) $3,000,000 - $5,000,000: 0.05% - 1.26% (varies by program and manager) $5,000,000+: 0.05% - 1.26% (varies by program and manager)

Commissions

Certain principals and employees receive commissions as registered representatives and insurance agents

Project-based

Typically $250 per hour for financial planning

Other

Account minimum: $500,000 Minimum fee: For smaller accounts, a minimum annual account fee may apply (e.g., $100 minimum annual account program fee) Fee-only: Financial planning fixed fees typically range from $2,000 to $7,500; hourly fees typically $250 per hour

Main office location

Richardson Financial Services

165 Village St

Medway MA 02053, United States

Number of offices

Most active in

Arizona · Connecticut · Florida · Georgia · Maine · Massachusetts · New Hampshire · North Carolina · South Carolina · Texas

Disclosures

Business activities & affiliations

Is 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.

Accountant / CPA / tax prep

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

Is not active or affiliated with:

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.

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

Website 508.533.2335

Advisors at this firm

Steven R

Series 63, Series 65

Medway, MA

Richardson Financial Services

Steven Richardson is a financial advisor at Richardson Financial Services with 29 years of industry experience. He holds Series 63 and Series 65 licenses and has worked at J.W. Cole Financial, Inc. since 2020 and First Allied Securities, Inc. from 1998 to 2020. In addition to his advisory role, Richardson manages a CPA practice, serves as a director of Charles River Bank, and is involved in several other business and community activities. Richardson Financial Services, Inc. is a fee-based registered investment adviser serving individual and high-net-worth clients. The firm provides comprehensive financial planning and portfolio management, using third-party managers on platforms such as AssetMark and Envestnet, with ongoing due diligence and quarterly reviews of managers and asset allocation.

General retirement planning Income planning General tax planning

Edward P

CFP®, Series 63, Series 65

Medway, MA

Richardson Financial Services

Edward Pitts is a CFP® professional with 31 years of industry experience. He is currently with Richardson Financial Services and previously worked at J.W. Cole Financial, Edward Jones, and TIAA. Outside of his advisory role, he serves as an independent ice hockey referee. Richardson Financial Services is a fee-based registered investment adviser serving individual and high-net-worth clients. The firm offers comprehensive financial planning and portfolio management, utilizing third-party managers through wrap platforms such as AssetMark and Envestnet.

General retirement planning Income planning General tax planning

Brian M

CFP®, Series 63, Series 65

Medway, MA

Richardson Financial Services

Brian Maxfield is a CFP® with 27 years of industry experience, currently serving at Richardson Financial Services. He has worked at Richardson Financial Services since 2004 and at J.W. Cole Financial, Inc. since 2020. Outside of his advisory role, Maxfield coaches pickleball. Richardson Financial Services is a fee-based registered investment adviser serving individual and high-net-worth clients, managing approximately $213 million in assets. The firm provides comprehensive financial planning and portfolio management through third-party managers on platforms like AssetMark and Envestnet.

General retirement planning Income planning General tax planning

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