November Business of the Month: Mark Porter

Sponsored by the Canton Economic Development Committee & the Canton Association of Business and Industry

“It all started back in seventh grade,” recalled Canton resident and financial planner Mark Porter. “Our Boy Scout troop took a trip to Virginia Beach, and my parents gave me $100 for the trip, a fortune to me back then. I thought to spend my money wisely and keep what was left over and invest it in a bank account. From there, I was hooked — saving, investing and planning for the future.”

Mark Porter

Porter graduated from the prestigious MIT at the age of 20 with a major in finance and a minor in economics and began his career as a financial planner in Boston. Not satisfied with the title, he set a goal of becoming a Certified Financial Planner, and after passing several tests, merely three years into his career, he became one of the youngest to ever hold that designation.

Porter serves on a small committee with the CFP Board of Standards responsible for developing new test questions for the exam, and in June he sat for and passed the final exam required to become a Chartered Financial Analyst (CFA).

Porter hasn’t stopped there. “I come from the ‘extracurricular generation,’” he said of his busy schedule. “Back in the late 90s, we were all taught in high school to get involved with various organizations to better yourself and your community. I didn’t see any reason to stop doing that as an adult.”

Porter is the chairman of Canton’s Finance Committee, the Scoutmaster of Canton BSA Troop 77, and a member of the boards of two organizations affiliated with MIT. Growing up in Canton, Ohio, and moving after college to Canton, Massachusetts, makes him a “lifetime Canton guy.” He and his wife, Anna, live close to his office. “It’s great to be involved in the community, ride your bike to work, and be able to stop home for lunch,” he said.

In 2011, Porter formed his own financial planning practice, Northeast Planning Associates. “A lot of advisors start with the investments,” he said, “but in this increasingly commoditized industry, everyone is selling the same thing. Where people set themselves apart is through the financial planning process.” When Porter speaks to his clients about investments, he makes sure clients focus on risk first, rather than return.

Porter works with his clients by first establishing realistic goals surrounding important concerns such as college funding and retirement. Next, he guides his clients through a variety of scenarios in order to help them understand how a savings commitment today equates to college funding, retirement age, and retirement lifestyle. Next, he evaluates the other aspects of a client’s situation, such as their debts, insurance coverage, taxes and wills, referring his clients to other Canton professionals when needed. Finally, when the financial plan is in place, he provides his clients with investment advice, with a focus on downside risk.

“Everyone is happy to take risk when the market is going up,” said Porter. “However, staying invested in a down market is key to long-term success. It’s amazing how the best annual return for many investments comes right after their worst annual return. I’m cautious by nature — that’s a good thing for my clients. Before my clients put a dollar into any investment, I make sure my clients understand what would happen if we have another bad period of time like 2008. My clients were not jumping for joy when the markets were down in 2008, but since we had the conversation ahead of time, and because we had diversified, it was easier to stick to the plan.”

Mark Porter of Northeast Planning Associates is located at 742 Washington Street in the Capen building and Porter can be reached at 781-562-1800.

Mark Porter, Financial Planner, offers advisory services through Northeast Planning Associates, Inc. (NPA), a registered investment adviser. Securities and advisory services offered through LPL Financial, member FINRA/SIPC. NPA and LPL Financial are not affiliated.

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