Baystate Financial Announces Retirement of Managing Partner Dave Porter, Passing Leadership to Andrew Cleary

BOSTON, Dec. 2, 2025 /PRNewswire/ -- Baystate Financial today announced that Managing Partner Dave Porter will retire on January 2, 2026, after three decades of extraordinary leadership. Porter will transition leadership of the firm to Partner Andrew Cleary, marking the beginning of a new era as Baystate Financial celebrates 125 years in business in 2026.

Since assuming leadership in 1996, Porter has guided Baystate Financial through remarkable growth and transformation, expanding the firm from a single office with 49 advisors and 10 staff associates to 17 major offices and more than 600 advisors and staff associates. Baystate's assets under management grew from $280 million to $24.2 billion*, while life insurance protection climbed to $20.4 billion**. Baystate has become a recognized leader in the industry and a repeated recipient of "Best Places to Work" honors from The Boston Globe, Providence Business News, and the Boston Business Journal.

Equally remarkable is the culture of collaboration, philanthropy, and excellence that Porter fostered. During his tenure, the Baystate Financial Charitable Foundation raised $5 million for children's charities and community programs earning repeated recognition as a Corporate Citizenship Award winner noting top charitable companies by the Boston Business Journal.

Porter's leadership extends far beyond Baystate. He is a former Chairman and current member of the Board of Trustees at Elon University as well as former Chairman of the Board of Directors at Zoo New England. His previous board memberships include Tufts Medical Center, YPO New England, Citi Performing Arts Center, and the Boston Police Activities League of Massachusetts (PAL). He has also been an international speaker and authored Where Winners Live.

"This firm has been my life's work, and I am deeply proud of the people, culture, and success we've built together," said Porter. "We've achieved extraordinary growth while staying true to our mission-helping families and businesses secure their financial futures. I could not be more confident in Andrew to lead Baystate into its next great chapter."

Cleary, who was named a Partner at Baystate in 2024 and serves as Co-Founder and Partner at SFP Wealth, brings two decades of experience advising clients and leading high-performing teams.

"I am honored to follow in Dave's footsteps," said Cleary. "Dave's leadership has elevated Baystate into one of the premier firms in the country. His vision and commitment to people have built a foundation that will continue to thrive for decades to come."

Partners Greg Meahl and Bryan Morrell will continue in their leadership roles, supporting Baystate's advisors, clients, and strategic initiatives as the firm enters this exciting new phase.

About Baystate Financial

Headquartered in Boston, Baystate Financial is one of the oldest and largest wealth management and financial services firms in the Northeast, with offices across the region and in Florida. With more than 600 financial professionals and staff associates and an infrastructure of specialists, their long-standing history of excellence, stability and adaptability dates back to 1901. Baystate serves the financial needs of individuals, families, businesses, and institutions. The firm is uniquely positioned to guide clients through the ever-changing world of finance. Learn more at www.baystatefinancial.com.

Media Contact:
Jill Constantine
Marketing Director
Baystate Financial
[email protected] | 617-686-0016

Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. www.SIPC.org. SFP Wealth is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. OSJ: 1 Marina Park Drive, 16th Floor, Boston, MA 02210; Ph: 617-585-4500.
*As of 11/25/2025 our firm's total Assets Under Management (AUM) were $24.2 billion. This reflects the market value of all investments our advisors manage through MML Investors Services, LLC managed account programs. MML Investors Services, LLC is a registered investment adviser.
**$20.4 billion life insurance basic face amount as of 11/25/2025 CRN202811-9914320

SOURCE Baystate Financial