Cornerstone Financial Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, and educational seminars. Financial planning was provided to 51–100 clients last fiscal year.
Cornerstone Financial Management reports 108 clients. They include 52 individual clients, 49 high-net-worth individuals and 7 charitable organizations. Of its assets, 99.0% ($165M across 443 accounts) are managed with discretion; $1.66M across 1 account is not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 15% |
| High-net-worth individuals | 45% | 84% |
| Charitable organizations | 6% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 52 | $25.7M | 15.4% | $493K |
| High-net-worth individuals | 49 | $140M | 83.8% | $2.86M |
| Charitable organizations | 7 | $1.43M | 0.9% | $204K |
| Total | 108 | $167M | 100% | $1.55M |
- Clients
- 52
- Regulatory AUM
- $25.7M
- AUM share
- 15.4%
- Avg. per client
- $493K
- Clients
- 49
- Regulatory AUM
- $140M
- AUM share
- 83.8%
- Avg. per client
- $2.86M
- Clients
- 7
- Regulatory AUM
- $1.43M
- AUM share
- 0.9%
- Avg. per client
- $204K
Total
- Clients
- 108
- Regulatory AUM
- $167M
- AUM share
- 100%
- Avg. per client
- $1.55M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Cornerstone Financial Management charges 0.50%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance or in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$3M | 1.00% |
| $3M–$5M | 0.85% |
| $5M–$7.5M | 0.75% |
| $7.5M–$10M | 0.68% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Project-Based Financial Planning
- Project-based financial planning is a fixed fee of up to $10,000 or an hourly fee of up to $400, negotiable; advance payment is capped at $1,200 for work due in six months or more.
- Retirement Plan Consulting
- Retirement plan consulting carries a one-time implementation fee of up to $10,000 plus an ongoing fee on plan assets that will not exceed 1.00%.
Kevin Arruda owns 50% to 75% of Cornerstone Financial Management. It has 7 employees, 4 of them in advisory roles.
Leadership
- Kevin ArrudaPartner & CCO
- George NewfieldPartner
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 7 employees
- 4 in advisory functions
- 4 state-registered reps
- 1 insurance agent
- Owns 50% to 75% of Cornerstone Financial Management LLC
Kevin Arruda
Control person · since March 2021
- Owns 50% to 75% of Cornerstone Financial Management LLC
George Newfield
Control person · since March 2021
Cornerstone Financial Management’s regulatory assets grew from $114M (March 2024) to $167M (March 2026); clients rose from 92 to 108 and employees from 3 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $167M | 108 | 7 | 3 |
| March 2025 | $135M | 97 | 4 | 2 |
| March 2024 | $114M | 92 | 3 | 2 |
Besides its headquarters, Cornerstone Financial Management has 2 offices, with 3 listed addresses in Massachusetts and Rhode Island.
Rhode Island · 2 listed addresses
- 2 Richmond Square, Providence
- 513 Broadway, Newport
Massachusetts · 1 listed address
- 10 Mall Road, Suite 301, BurlingtonHQ
Contact and registration details
- Legal name
- Cornerstone Financial Management LLC
- Headquarters
- 10 Mall Road, Suite 301, Burlington, MA 01803-4131
- Website
- cornerstonefm.com
- Phone
- 800-527-1238
- @cornerstonefm
- SEC file
- 801-130130
- Structure
- Massachusetts LLC
- Fiscal year end
- December
Cornerstone Financial Management uses Fidelity ($160M) as custodian for its separately managed accounts. Cornerstone Financial Management does not have custody of client assets.
- FidelityNational Financial Services LLC · Boston, MA · $160M100%
At year end, Cornerstone Financial Management’s separately managed accounts were mostly in funds (81%) and stocks (12%). Its reported 13F holdings for the quarter ended 30 June 2026 total $125M across 1,471 positions; the largest are Vanguard Morningstar Mega Cap Value ETF (4.9%), Vanguard Morningstar Mega Cap Growth ETF (4.7%) and Vanguard Short-term Treasury ETF (4.3%).
What the accounts hold
- Stocks12%
- Funds81%
- Bonds1%
- Cash6%
Reported 13F holdings
- $125M
- Reported 13F value
- 1,471
- Positions
- 36.5%
- In the 10 largest
- +14.4%
- Value vs. prior quarter
- Vanguard Morningstar Mega Cap Value ETFETF4.9%
- Vanguard Morningstar Mega Cap Growth ETFETF4.7%
- Vanguard Short-term Treasury ETFETF4.3%
- Vanguard Intermediate-term Treasury ETFETF4.1%
- Schwab U.S. Large-cap ETFETF3.7%
- First Trust Low Duration Opportunities ETFETF3.2%
- Vanguard Morningstar Mega Cap ETFETF3.2%
- Vanguard Mortgage-backed Securities ETFETF3.2%
- Vanguard Dividend Appreciation ETFETF3.0%
- iShares MSCI Eafe Growth ETFETF2.3%
Together, the ten largest are 36.5% of reported value.
How many clients does Cornerstone Financial Management have?
Cornerstone Financial Management has 108 clients and manages $167 million for them, as of March 2026. They include 52 individual clients, 49 high-net-worth individuals and 7 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does Cornerstone Financial Management offer?
Cornerstone Financial Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Cornerstone Financial Management charge?
Cornerstone Financial Management charges 0.50%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance or in arrears and is negotiable.
Source: CORNERSTONE FINANCIAL MANAGEMENT ADV PART 2A BROCHURE MARCH 2025, filed 26 March 2026
Which custodians does Cornerstone Financial Management use?
Cornerstone Financial Management’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $160M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does Cornerstone Financial Management have?
Cornerstone Financial Management has 4 investment adviser representatives registered with state securities authorities, out of 7 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Cornerstone Financial Management invest in?
At the end of its last fiscal year, Cornerstone Financial Management’s separately managed accounts held 81% registered funds (mutual funds, ETFs, BDCs), 12% exchange-traded equities, 6% cash and equivalents and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cornerstone Financial Management?
Cornerstone Financial Management’s direct owners are Kevin Arruda (50% to 75%) and George Newfield (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does Cornerstone Financial Management get paid?
Cornerstone Financial Management is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Cornerstone Financial Management registered with the SEC?
Yes, Cornerstone Financial Management has been registered with the SEC as an investment adviser since 30 April 2024. Its CRD number is 140967 and its SEC file number is 801-130130.
Source: Form ADV Part 1A, Item 1, filed 26 March 2026; IAPD firm record
How do I contact Cornerstone Financial Management?
Cornerstone Financial Management’s main office is at 10 Mall Road, Suite 301, Burlington, MA 01803-4131. Its phone number is 800-527-1238. Its website is cornerstonefm.com.