Andrew R. Sullivan

Founder | President

Biography 

Andrew has been advising wealth management clients for over 24 years. Over that span of time, he has gained a broad perspective of the global markets, the wealth management industry's platforms and client offerings, and the importance of client relationships.

Andrew began his career at Merrill Lynch Wealth Management in Wellesley, MA in 1997 as a financial consultant trainee. He has managed investment portfolios, client financial plans, and client relationships through major market events such as the 1998 Long Term Capital Management hedge fund failure/ Russian currency default, the 2000-2002 internet /.com bubble, the September 11 2001 terrorist attacks, the 2007-2009 housing bubble and resulting US financial crisis, and the more recently the 2020 Covid-19 epidemic. In addition to managing portfolios through these major market events, Andrew has guided adjustments to investment strategies and financial plans for numerous changes to the federal income and estate tax codes during his career.

Andrew has watched the wealth management industry evolve over the last two and half decades. In the late 1990's he witnessed the waning years of the old wall street commission brokerage business model and the advent of the discount brokerage business. At Merrill Lynch, considered the leading “wirehouse” in the late 1990s, two wealth management industry tenets were instilled in financial consultants in the development program; charge your clients an annual fee rather than commissions and create a written financial plan addressing each client goal. Those two practices became the focus of the wealth management industry going forward. During the same period IRS Section 529 College Savings Plans were legislatively created in 1996 and updated in 2001 adding a new tool for college investing. Years later, the great recession of 2007-2009 resulted in a redrawing and the financial services landscape with the acquisitions and forced marriages of the wall street investment banks/ brokerages and the largest US commercial banks. Coming out of the great recession the largest bank brokerage units focused on placing client assets in fee-based advisory programs at their corporate registered investment advisor (RIA) while non-wall street firms such as Fidelity and Schwab began a rapid expansion into custody services for independent registered investment advisors (RIAs). Over the last decade, Andrew has seen the use of exchange-traded funds (ETFs) explode, overtaking mutual funds, Vanguard's John Bogles' creation in 1975. More recently Andrew has employed newer products such as ESG funds however he has remained an observer of an industry push in private equity investments, structured investments, and cryptocurrency.

While the financial markets are everchanging and the wealth management industry continually evolves with new products and platforms, the core of CIO's business remains our client relationships. By knowing our clients, understanding their goals and perspective, their financial and career history, their achievements, failures, and goals, realized or yet to be attained, CIO builds trusted client relationships lasting decades and generations.

 

Education and Credentials

Boston College, BA History, 1997

Certified Financial Planner (CFP®), 2002

Certified Investment Management Analyst (CIMA®), 2004

Investments and Wealth Institute, Member

Financial Planning Association, Member 

Phone (978) 287-1405
Mobile Phone 617) 905-9295