Carosa & Stanton Asset Management

What Carosa & Stanton Asset Management does

Carosa & Stanton Asset Management (legal entity: Carosa Stanton Asset Management, LLC) is a privately-held Registered Investment Adviser founded in November 1996 by Christopher Carosa, CTFA and the late Gordon Stanton, headquartered in Mendon, New York. The firm operates a three-pillar investment management platform serving high-net-worth individuals, 401k plan fiduciaries, and retail mutual fund investors. The core service is the Carosa Stanton Privately Managed Portfolios line, which delivers exclusive private investment counsel to corporate executives, professionals, non-profit endowments, IRA rollovers, trusts and estates, and corporate retirement plans, with a minimum portfolio size of $200,000 and an average of approximately $900,000.

The firm differentiates through proprietary, behavioral-economics-based methodologies — specifically the trademarked Lifetime Dream Process℠ (a seven-step goal-setting and investment process incorporating behavioral techniques and downside risk analysis) and Goal-Oriented Targeting℠ (a patent-pending methodology for 401k plan participants). The Independent Fiduciary Consultants℠ division provides standalone fiduciary consulting to 401k plan trustees for plans ranging from $5 million to $50 million (average approximately $6 million), offering Investment Policy Statements, compliance documentation, and semi-annual due-diligence reports. The Bullfinch Fund family of no-load mutual funds (Unrestricted Series, average shareholder account $77,000; Western New York Series, average shareholder account $42,000) is wholly advised by the firm.

The business model is entirely asset-based fee — the firm explicitly accepts no commissions — with go-to-market executed exclusively through direct outreach and referral-driven acquisition rather than paid advertising or third-party distribution. Operating geographies are confined to Western New York, and headcount is reported in the 1-10 range. Christopher Carosa, the president, drives the firm's thought-leadership presence through authorship of more than 500 articles and multiple books on finance and investment management, including 401k Fiduciary Standards.

Name

Carosa & Stanton Asset Management

Legal name

Carosa Stanton Asset Management, LLC

Website

https://carosastanton.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

Carosa & Stanton Asset Management is a privately-held, Western New York-based Registered Investment Adviser (founded 1996) providing asset-based-fee portfolio management to high-net-worth individuals, 401k plan fiduciary consulting, and mutual fund advisory through the Bullfinch Fund family, using a proprietary behavioral-economics-based Lifetime Dream Process℠ methodology.

Ownership category

akta.pro rank

Product category

Investment Advisory & Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Based Advisory (FSAEAAAM)

akta.pro secondary industries

Institutional Consultants & Fiduciary Management (Investment Consulting) (FSAAAGAJ), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

Keywords

• Portfolio management
• Fiduciary consulting
• Retirement planning
• Wealth management
• Asset management

Headquarters

HQ city

Mendon

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset-Based Fee Services: Exclusively an asset-based fee service provider. No commissions are accepted. This fee structure aligns the firm's interests with clients' interests. Minimum fee generally applies to accounts below $400,000.
2. Privately Managed Portfolios: Principal service managing investment portfolios for individuals and organizations. Minimum portfolio size of $200,000 with average portfolio size of $900,000. Fee based on assets under management.
3. Independent Fiduciary Consultants: Fiduciary consulting service to 401k plan trustees and fiduciaries seeking to reduce fiduciary liability. Targets plans ranging from $5 million to $50 million with average client size of roughly $6 million.
4. Bullfinch Fund Management: Sole investment adviser to the Bullfinch Fund family of no-load mutual funds. Includes Unrestricted Series (average shareholder account $77,000) and Western New York Series (average shareholder account $42,000). Minimum initial contribution $2,500, recommended $10,000.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Carosa & Stanton Asset Management provides personalized private investment counsel via its Privately Managed Portfolios service (minimum $200,000, average $900,000), fiduciary consulting for 401k plan trustees through its Independent Fiduciary ConsultantsSM division (plans $5M–$50M), and acts as sole investment adviser to the Bullfinch Fund family of no-load mutual funds. All services are delivered on an exclusively asset-based fee model with no commissions, applying the proprietary Lifetime Dream ProcessSM and Goal-Oriented TargetingSM behavioral-economics methodologies.

Product overview

Carosa & Stanton Asset Management offers a unified investment management platform centered on behavioral finance techniques. The core offering is the Carosa Stanton Privately Managed Portfolios service, supplemented by the Independent Fiduciary Consultants℠ division for 401k plan fiduciary services. The firm also sponsors the Bullfinch Fund family of no-load mutual funds (Unrestricted Series and Western New York Series). These products are unified by the proprietary Lifetime Dream ProcessSM and Goal-Oriented TargetingSM methodologies that incorporate behavioral economics to reduce downside risk and fiduciary liability.

Differentiator

Problem solved

Functional benefit

Brands

• Independent Fiduciary Consultants℠: A division of Carosa Stanton providing exclusive fiduciary consulting service to 401k plan trustees and fiduciaries who seek to reduce their fiduciary liability. Provides services to plans ranging from $5 million to $50 million.
• Bullfinch Fund
• Carosa Stanton Privately Managed Portfolios

Products and services

• Carosa Stanton Privately Managed Portfolios The principal managed portfolio service of the firm, delivering exclusive private independent investment counsel to individuals, corporate executives, professionals, non-profit endowments, IRA rollovers, corporate retirement plans, and trusts and estates. Minimum portfolio size $200,000; average portfolio size $900,000. Investment offerings include Unrestricted Allocation and Income-Oriented (Balanced) Allocation.
• Independent Fiduciary ConsultantsSM Trademarked division of Carosa Stanton providing exclusive fiduciary consulting services to 401k plan trustees and fiduciaries seeking to reduce fiduciary liability. Targets plans ranging from $5 million to $50 million with average client size ~$6 million; delivers a formal Investment Policy Statement, compliance documentation, and semi-annual due-diligence reports.
• Bullfinch Fund – Unrestricted Series A no-load mutual fund created by Carosa Stanton for investors seeking conservative long-term growth who do not yet have assets to afford privately managed portfolios. Average shareholder account $77,000; minimum initial contribution $2,500.
• Bullfinch Fund – Western New York Series A regional no-load mutual fund for investors who wish to promote Western New York while pursuing long-term growth. Average shareholder account $42,000.

Quantifiable outcome

• Average portfolio size of $900,000 demonstrates trust and high-value client relationships
• +1 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Bullfinch FundcoreOthersCarosa Stanton Asset Management serves as the sole investment adviser to the Bullfinch Fund family of no-load mutual funds. The firm creates and manages two mutual fund series: the Unrestricted Series (average shareholder account $77,000) and the Western New York Series (average shareholder account $42,000). Principals of Carosa Stanton serve as officers to the Bullfinch Fund.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Personal Capital (now Empower Personal Dashboard): Hybrid robo-advisor and human advisor platform serving HNW and mass-affluent clients with goal-based planning and discretionary portfolio management. Competes for the same digitally-engaged HNW segment Carosa Stanton targets, but at lower cost points and broader scale.
• Commonwealth Financial Network: Independent RIA support platform providing custody, practice management, and back-office infrastructure to independent financial advisors. Represents the platform/infrastructure peer that competing small RIAs might affiliate with to scale operations.

Direct peers

• New England Investment & Retirement Group: Independent, fee-only RIA serving individuals, families, and small businesses in New England with retirement plan services, investment management, and financial planning. Comparable target market and HNW/mass-affluent positioning.
• Fiducient Advisors: Independent, fee-only investment advisor specializing in consulting for retirement plan sponsors, endowments/foundations, and private clients. Highly comparable to Carosa Stanton's Independent Fiduciary Consultants division, with similar target market of $5M-$50M plans and similar fiduciary-only positioning.
• Foundation Resource Management: Small, fee-only RIA focused on serving retirement plans, endowments, foundations, and private wealth clients. Highly comparable in business model, fee-only fiduciary positioning, and concentration on the same underserved mid-market plan sponsor segment.
• Manning & Napier: Founded in Rochester, NY, Manning & Napier is a closely analogous regional investment adviser that grew from a similar Upstate New York base to serve both institutional and individual clients with a single mutual fund product line. Both firms share regional NY roots, proprietary investment processes, and a multi-product structure combining separately managed accounts and mutual funds.

Broad incumbents

• Mariner Wealth Advisors: Large national RIA serving HNW individuals, corporate executives, retirement plans, and endowments with a similar fiduciary-only positioning and 401k advisory capability. Represents the scaled incumbent that consolidates smaller RIAs of Carosa Stanton's profile.
• Edelman Financial Engines: One of the largest independent RIAs in the US, providing investment advisory, retirement plan services, and wealth management to individuals and corporate plans. Represents the scaled, multi-channel incumbent competing for the same 401k fiduciary and HNW segments.
• LPL Financial: Largest independent broker-dealer and RIA support platform in the US, serving independent financial advisors who manage portfolios and serve retirement plans. Comparable indirect competitor as a distribution and infrastructure alternative for independent RIAs.

Others

• Vanguard Group: Owner of one of the largest mutual fund complexes in the US. Direct structural comparison to the Bullfinch Fund mutual fund product line, although at vastly greater scale and lower cost. Sets the price and service benchmark that small no-load fund families must exceed to attract retail investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/carosa-stanton-asset-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

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 Carosa & Stanton Asset Management