Assabet Financial Group

Name

Assabet Financial Group

Legal name

Assabet Financial Group

Website

https://assabetfinancial.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Robo-Advisors & Digital Wealth Managers (FSAAAAAD)

Keywords

• Financial planning services
• Retirement planning
• Investment advisory
• Tax preparation services
• Insurance advisory

Headquarters

HQ city

Northborough

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Financial Advisory Fees: Fee-based financial planning and investment advisory services provided through Bright Futures Wealth Management, a Registered Investment Advisor. The firm provides personalized financial guidance covering investments, insurance, tax planning, and retirement strategies.
2. Securities Commissions: Robert N. Richard, Jr. is a Registered Principal with Silver Oak Securities, Inc. (member FINRA/SIPC), selling securities products including bonds, stocks, mutual funds, ETFs, variable annuities, options, government securities, IRAs, and managed accounts, earning commissions on product sales.
3. Insurance Product Sales: Sale of insurance products including life insurance, disability insurance, long-term care insurance, and business continuation insurance, earning commissions on policy placements.
4. Tax Preparation and Planning Fees: Federal and state tax return preparation; individual, business, and small business tax planning and preparation services; small business accounting services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Assabet Financial Group is a privately-held financial advisory firm that provides investment management, comprehensive financial and retirement planning, tax planning and preparation, and insurance services. The firm serves individual consumers and small business owners from its Northborough, Massachusetts office, with the founder/owner Robert N. Richard, Jr., EA, CRPS personally delivering advisory services.

Product overview

Assabet Financial Group offers a comprehensive suite of financial advisory services organized into five core offerings: Investment Management (covering securities, ETFs, annuities, and managed accounts), Tax Planning and Preparation (including individual, business, and estate tax services), Financial Planning (encompassing retirement analysis, asset allocation, and estate planning), Retirement Planning (specializing in 401(k), 403(b), and pension plan strategies), and Insurance Services (life, disability, long-term care, and business continuation coverage). The firm does not operate a unified software platform but rather provides personalized advisory services through experienced professionals.

Differentiator

Problem solved

Functional benefit

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Silver Oak Securities, Inc.coreChannel Partner/ Reseller/ DistributorSecurities offered through Silver Oak Securities, Inc. (SOSI), a registered broker/dealer and member of FINRA and SIPC. This is the primary custodial and brokerage platform through which Assabet Financial Group executes securities transactions for clients. Robert N. Richard, Jr. serves as a Registered Principal with SOSI.
• Bright Futures Wealth ManagementcoreStrategic or Co-development PartnerAdvisory services are offered through Bright Futures Wealth Management (BFWM), a Registered Investment Advisor. Assabet Financial Group operates as the client-facing brand while BFWM provides the RIA infrastructure for investment advisory services. Both entities are under the leadership of Robert N. Richard, Jr.

Recent moves5 records

Expansion highlights3 records

Peers

• Charles Schwab Wealth Advisory:

Direct peers

• Cetera Financial Group: Hybrid RIA/broker-dealer supporting independent financial advisors in delivering investment, retirement, tax, and insurance services to individuals and small businesses — same independent-advisor distribution model and similar product breadth as Assabet.
• Robert W. Baird: Private client wealth management firm providing personalized financial planning, investment management, and retirement services to individuals and families through dedicated advisors — comparable relationship-driven, comprehensive-planning model.
• Commonwealth Financial Network: Largest privately-held independent broker-dealer/RIA in the U.S., headquartered in Waltham, MA (same regional market), supporting independent financial advisors serving retail and mass-affluent clients with hybrid RIA/broker-dealer services — directly comparable operating model to Assabet's Silver Oak + Bright Futures affiliate arrangement.
• Ameriprise Financial: Individual-advisor franchise model with mass-affluent client focus offering comprehensive financial planning, investment, and insurance services through thousands of franchise advisors — comparable advisor-driven, multi-product delivery model serving similar client segment.
• Cambridge Investment Research: Major independent broker-dealer supporting individual financial advisors with RIA and broker-dealer capabilities. Highly comparable to Assabet's hybrid independent advisor model serving individual clients through affiliated BD/RIA infrastructure.
• Edward Jones: Mass-affluent, sole-practitioner-focused U.S. wealth management franchise where individual financial advisors deliver comprehensive financial planning and investment services to retail clients — a near-exact model parallel to Assabet's relationship-based, individual-client advisory practice.
• Raymond James Financial Services: Independent broker-dealer and RIA serving individual financial advisors who deliver investment, retirement, and financial planning to retail clients — closely comparable hybrid advisor model and client segment to Assabet.

Broad incumbents

• Fidelity Wealth Services: Large-scale retail wealth advisory and investment management franchise serving individual investors across the mass-affluent and high-net-worth segments — broader incumbent peer competing for the same retail client demand, supported by proprietary technology Assabet lacks.
• LPL Financial: Largest U.S. independent broker-dealer providing technology, compliance, and product infrastructure to a national network of independent financial advisors — comparable advisor-affiliation model but at materially greater scale than Assabet's single-practice footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Assabet Financial Group